CAVA Group’s (CAVA) “Outperform” Rating Reaffirmed at Wedbush

CAVA Group (NYSE:CAVA)‘s stock had its “outperform” rating reissued by stock analysts at Wedbush in a report released on Wednesday,Benzinga reports. They currently have a $150.00 price target on the stock. Wedbush’s price objective indicates a potential upside of 50.76% from the company’s current price.

A number of other equities research analysts have also weighed in on the company. Robert W. Baird lifted their price objective on CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. upped their price objective on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Morgan Stanley raised their price target on CAVA Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Loop Capital increased their price objective 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. Finally, Sanford C. Bernstein assumed coverage on shares of CAVA Group in a research note on Wednesday, November 20th. They set a “market perform” rating and a $145.00 target price on the stock. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $136.40.

CAVA Group Price Performance

CAVA opened at $99.50 on Wednesday. CAVA Group has a 1 year low of $50.37 and a 1 year high of $172.43. The stock’s 50 day simple moving average is $122.12 and its 200 day simple moving average is $125.97. The firm has a market cap of $11.40 billion, a price-to-earnings ratio of 216.29 and a beta of 3.25.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The firm had revenue of $227.40 million during the quarter, compared to the consensus estimate of $223.34 million. As a group, sell-side analysts anticipate that CAVA Group will post 0.5 EPS for the current year.

Insider Activity

In other CAVA Group news, CAO Adam David Phillips sold 615 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $76,499.85. Following the sale, the chief accounting officer now directly owns 10,884 shares in the company, valued at $1,353,860.76. This represents a 5.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ronald M. Shaich sold 622,549 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $149.40, for a total value of $93,008,820.60. Following the completion of the sale, the director now owns 6,307 shares in the company, valued at approximately $942,265.80. The trade was a 99.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 651,784 shares of company stock worth $96,522,922 over the last three months. Insiders own 12.10% of the company’s stock.

Institutional Trading of CAVA Group

A number of institutional investors have recently bought and sold shares of the business. Nwam LLC grew its holdings in shares of CAVA Group by 2.6% during the third quarter. Nwam LLC now owns 3,368 shares of the company’s stock worth $417,000 after purchasing an additional 85 shares during the last quarter. Utah Retirement Systems increased its stake in CAVA Group by 2.5% in the 4th quarter. Utah Retirement Systems now owns 4,100 shares of the company’s stock valued at $462,000 after buying an additional 100 shares during the period. Howard Financial Services LTD. raised its holdings in CAVA Group by 1.8% during the fourth quarter. Howard Financial Services LTD. now owns 6,194 shares of the company’s stock worth $699,000 after purchasing an additional 109 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of CAVA Group by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 3,287 shares of the company’s stock valued at $407,000 after buying an additional 110 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in shares of CAVA Group by 6.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,916 shares of the company’s stock worth $237,000 after purchasing an additional 113 shares during the period. 73.15% of the stock is owned by hedge funds and other institutional investors.

About CAVA Group

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.