Sanford C. Bernstein Begins Coverage on CAVA Group (NYSE:CAVA)

Investment analysts at Sanford C. Bernstein assumed coverage on shares of CAVA Group (NYSE:CAVA) in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. The firm set a “market perform” rating and a $145.00 price target on the stock. Sanford C. Bernstein’s target price would indicate a potential upside of 2.71% from the company’s current price.

CAVA has been the subject of several other research reports. Barclays lifted their target price on CAVA Group from $113.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Jefferies Financial Group raised their price objective on shares of CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Loop Capital upped their price target on shares of CAVA Group from $122.00 to $147.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. lifted their target price on shares of CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Finally, Piper Sandler upped their price objective on shares of CAVA Group from $100.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, CAVA Group currently has an average rating of “Moderate Buy” and an average target price of $143.80.

CAVA Group Stock Up 2.9 %

Shares of NYSE:CAVA opened at $141.18 on Wednesday. The firm’s 50 day moving average price is $132.03 and its 200 day moving average price is $105.21. The stock has a market cap of $16.18 billion, a price-to-earnings ratio of 306.90 and a beta of 3.23. CAVA Group has a fifty-two week low of $31.47 and a fifty-two week high of $172.43.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. The business had revenue of $243.82 million for the quarter, compared to analysts’ expectations of $233.05 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The company’s revenue was up 38.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.06 EPS. On average, equities analysts anticipate that CAVA Group will post 0.5 EPS for the current year.

Insiders Place Their Bets

In related news, Director Theodoros Xenohristos sold 98,490 shares of CAVA Group stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.77, for a total value of $12,387,087.30. Following the completion of the sale, the director now directly owns 424,846 shares in the company, valued at approximately $53,432,881.42. This trade represents a 18.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karen Kochevar sold 15,000 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $140.00, for a total value of $2,100,000.00. Following the transaction, the director now directly owns 1,307 shares in the company, valued at $182,980. The trade was a 91.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 319,994 shares of company stock valued at $40,410,084 in the last quarter. Corporate insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On CAVA Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Nwam LLC boosted its holdings in shares of CAVA Group by 2.6% during the 3rd quarter. Nwam LLC now owns 3,368 shares of the company’s stock valued at $417,000 after purchasing an additional 85 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of CAVA Group by 3.5% in the third quarter. CIBC Asset Management Inc now owns 3,287 shares of the company’s stock worth $407,000 after purchasing an additional 110 shares during the last quarter. Farther Finance Advisors LLC grew its stake in CAVA Group by 6.3% in the third quarter. Farther Finance Advisors LLC now owns 1,916 shares of the company’s stock worth $237,000 after purchasing an additional 113 shares in the last quarter. GAMMA Investing LLC lifted its stake in CAVA Group by 68.3% in the third quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock worth $38,000 after acquiring an additional 125 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of CAVA Group by 0.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 39,154 shares of the company’s stock worth $3,632,000 after purchasing an additional 184 shares during the period. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

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.