CAVA Group (NYSE:CAVA) Stock Price Up 2.9%

CAVA Group, Inc. (NYSE:CAVA)’s stock price rose 2.9% during trading on Monday . The company traded as high as $114.04 and last traded at $114.04. Approximately 2,956,000 shares traded hands during mid-day trading, an increase of 4% from the average daily volume of 2,833,462 shares. The stock had previously closed at $110.87.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CAVA shares. Morgan Stanley lowered CAVA Group from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $90.00 to $110.00 in a report on Thursday. TD Cowen lifted their price target on CAVA Group from $95.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Stifel Nicolaus increased their price objective on CAVA Group from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Piper Sandler lowered shares of CAVA Group from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $63.00 to $92.00 in a research report on Thursday, May 30th. Finally, Jefferies Financial Group increased their price target on shares of CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, CAVA Group presently has an average rating of “Moderate Buy” and a consensus target price of $106.75.

CAVA Group Trading Up 2.9 %

The firm has a market capitalization of $13.00 billion, a PE ratio of 278.15 and a beta of 3.27. The stock’s 50 day moving average price is $92.21 and its two-hundred day moving average price is $78.44.

CAVA Group (NYSE:CAVA) last released its earnings results on Thursday, August 22nd. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. The company had revenue of $233.50 million for the quarter, compared to analyst estimates of $219.47 million. During the same period in the prior year, the firm earned $0.21 EPS. The firm’s quarterly revenue was up 35.1% on a year-over-year basis. Analysts expect that CAVA Group, Inc. will post 0.43 earnings per share for the current year.

Insider Transactions at CAVA Group

In other CAVA Group news, Director Ronald M. Shaich sold 1,231,979 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $87.25, for a total value of $107,490,167.75. Following the sale, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $436,250. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other CAVA Group news, Director Ronald M. Shaich sold 1,231,979 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $87.25, for a total transaction of $107,490,167.75. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at $436,250. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 owns 904,094 shares in the company, valued at approximately $81,467,910.34. The disclosure for this sale can be found here. Insiders have sold 1,725,558 shares of company stock worth $163,000,919 over the last quarter.

Institutional Trading of CAVA Group

A number of institutional investors have recently modified their holdings of the company. Montag A & Associates Inc. purchased a new stake in CAVA Group during the fourth quarter worth approximately $26,000. Jamison Private Wealth Management Inc. purchased a new stake in CAVA Group during the 2nd quarter worth $28,000. Nemes Rush Group LLC acquired a new stake in CAVA Group in the 2nd quarter valued at $28,000. CWM LLC raised its position in CAVA Group by 101.2% in the first quarter. CWM LLC now owns 505 shares of the company’s stock valued at $35,000 after purchasing an additional 254 shares during the period. Finally, Mark Sheptoff Financial Planning LLC acquired a new position in shares of CAVA Group during the second quarter worth about $36,000. Hedge funds and other 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.