Brokerages Set CAVA Group, Inc. (NYSE:CAVA) Price Target at $81.50

CAVA Group, Inc. (NYSE:CAVA) has received an average recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $81.50.

Several equities research analysts have weighed in on the stock. Piper Sandler downgraded shares of CAVA Group from an “overweight” rating to a “neutral” rating and raised their target price for the company from $63.00 to $92.00 in a research note on Thursday, May 30th. Argus upgraded shares of CAVA Group from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research note on Wednesday, April 10th. Robert W. Baird raised their target price on shares of CAVA Group from $90.00 to $92.00 and gave the company an “outperform” rating in a research note on Wednesday, May 29th. Barclays raised their target price on shares of CAVA Group from $58.00 to $72.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. Finally, Morgan Stanley raised their target price on shares of CAVA Group from $68.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, May 29th.

CAVA Group Stock Performance

NYSE CAVA opened at $92.72 on Monday. The firm’s 50 day moving average price is $81.72 and its 200-day moving average price is $63.25. CAVA Group has a 52-week low of $29.05 and a 52-week high of $97.64. The company has a market cap of $10.57 billion and a PE ratio of 226.15.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, May 28th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.08. The firm had revenue of $259.01 million for the quarter, compared to the consensus estimate of $246.02 million. CAVA Group had a net margin of 3.75% and a return on equity of 5.18%. The firm’s quarterly revenue was up 27.5% on a year-over-year basis. On average, analysts forecast that CAVA Group will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CAVA Group news, Director Ronald M. Shaich sold 1,231,979 shares of CAVA Group stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $87.25, for a total value of $107,490,167.75. Following the completion of the transaction, the director now owns 5,000 shares of the company’s stock, valued at $436,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other CAVA Group news, Director Ronald M. Shaich sold 1,231,979 shares of CAVA Group stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $87.25, for a total value of $107,490,167.75. Following the completion of the transaction, the director now owns 5,000 shares of the company’s stock, valued at $436,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brett Schulman sold 66,414 shares of CAVA Group stock in a transaction on Friday, June 14th. The shares were sold at an average price of $90.11, for a total transaction of $5,984,565.54. Following the completion of the transaction, the chief executive officer now directly owns 904,094 shares of the company’s stock, valued at approximately $81,467,910.34. The disclosure for this sale can be found here. Insiders sold a total of 1,414,615 shares of company stock valued at $124,128,832 over the last 90 days.

Institutional Trading of CAVA Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Capital Research Global Investors increased its stake in shares of CAVA Group by 21.6% during the first quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock worth $372,059,000 after purchasing an additional 942,054 shares in the last quarter. Vanguard Group Inc. boosted its position in CAVA Group by 215.7% during the first quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock worth $346,330,000 after acquiring an additional 3,377,840 shares during the last quarter. 1832 Asset Management L.P. boosted its position in CAVA Group by 79.5% during the fourth quarter. 1832 Asset Management L.P. now owns 2,248,400 shares of the company’s stock worth $96,636,000 after acquiring an additional 995,800 shares during the last quarter. Lord Abbett & CO. LLC boosted its position in CAVA Group by 55.9% during the first quarter. Lord Abbett & CO. LLC now owns 1,373,749 shares of the company’s stock worth $96,231,000 after acquiring an additional 492,667 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in CAVA Group by 24.7% during the fourth quarter. Jennison Associates LLC now owns 1,222,240 shares of the company’s stock worth $52,532,000 after acquiring an additional 242,376 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

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.