TD Cowen Issues Positive Forecast for CAVA Group (NYSE:CAVA) Stock Price

CAVA Group (NYSE:CAVA) had its price objective upped by TD Cowen from $130.00 to $150.00 in a research report report published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts also recently issued reports about the stock. Morgan Stanley downgraded shares of CAVA Group from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $90.00 to $110.00 in a report on Thursday, August 29th. Loop Capital lifted their target price on shares of CAVA Group from $80.00 to $122.00 and gave the company a “hold” rating in a research note on Monday, August 26th. TD Securities increased their price target on CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Robert W. Baird raised their price target on CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Finally, UBS Group began coverage on CAVA Group in a research note on Friday, September 27th. They issued a “neutral” rating and a $135.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, CAVA Group presently has a consensus rating of “Moderate Buy” and an average target price of $143.71.

CAVA Group Stock Up 2.2 %

Shares of CAVA opened at $141.38 on Wednesday. CAVA Group has a 12 month low of $31.47 and a 12 month high of $172.43. The stock has a market cap of $16.16 billion, a price-to-earnings ratio of 307.35 and a beta of 3.23. The company has a 50-day moving average price of $131.69 and a two-hundred day moving average price of $104.46.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.11 by $0.04. CAVA Group had a return on equity of 9.23% and a net margin of 5.88%. The business had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. During the same quarter in the previous year, the firm earned $0.06 EPS. CAVA Group’s quarterly revenue was up 38.9% on a year-over-year basis. Equities research analysts expect that CAVA Group will post 0.46 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Brett Schulman sold 201,504 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the completion of the transaction, the chief executive officer now directly owns 702,590 shares in the company, valued at approximately $88,196,122.70. The trade was a 22.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Tricia K. Tolivar sold 5,000 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.64, for a total transaction of $628,200.00. Following the completion of the sale, the chief financial officer now owns 292,600 shares in the company, valued at $36,762,264. This represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 304,994 shares of company stock valued at $38,310,084 over the last ninety days. Insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

Several large investors have recently bought and sold shares of CAVA. Jamison Private Wealth Management Inc. acquired a new position in shares of CAVA Group in the 2nd quarter valued at $28,000. Nemes Rush Group LLC bought a new position in CAVA Group during the second quarter worth about $28,000. Mark Sheptoff Financial Planning LLC acquired a new position in CAVA Group in the second quarter valued at about $36,000. Headlands Technologies LLC bought a new stake in shares of CAVA Group in the second quarter worth about $37,000. Finally, GAMMA Investing LLC raised its position in shares of CAVA Group by 68.3% during the third quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock worth $38,000 after purchasing an additional 125 shares during the period. Institutional investors own 73.15% of the company’s stock.

CAVA Group Company Profile

CAVA Group, Inc owns and operates a chain of restaurants under the CAVA brand in the United States. The company also offers dips, spreads, and dressings through grocery stores. In addition, the company provides online and mobile ordering platforms. Cava Group, Inc was founded in 2006 and is headquartered in Washington, the District of Columbia.