CAVA Group (NYSE:CAVA) Given New $148.00 Price Target at Robert W. Baird

CAVA Group (NYSE:CAVA) had its price target hoisted by analysts at Robert W. Baird from $125.00 to $148.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 12.52% from the company’s previous close.

CAVA has been the subject of several other reports. JPMorgan Chase & Co. raised their target price on shares of CAVA Group from $77.00 to $90.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Morgan Stanley downgraded CAVA Group from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $90.00 to $110.00 in a research note on Thursday, August 29th. Argus increased their price target on CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Barclays lifted their price objective on shares of CAVA Group from $95.00 to $113.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Finally, Wedbush increased their price objective on shares of CAVA Group from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $120.36.

CAVA Group Stock Performance

Shares of NYSE CAVA opened at $131.53 on Monday. The stock has a 50 day moving average price of $126.65 and a 200 day moving average price of $99.32. The stock has a market capitalization of $15.04 billion, a PE ratio of 355.49 and a beta of 3.23. CAVA Group has a 52 week low of $29.66 and a 52 week high of $141.25.

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

Insider Activity at CAVA Group

In other CAVA Group news, CEO Brett Schulman sold 201,504 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.53, for a total value of $25,294,797.12. Following the transaction, the chief executive officer now directly owns 702,590 shares of the company’s stock, valued at $88,196,122.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Theodoros Xenohristos sold 98,490 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.77, for a total value of $12,387,087.30. Following the sale, the director now directly owns 424,846 shares in the company, valued at approximately $53,432,881.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brett Schulman sold 201,504 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 702,590 shares of the company’s stock, valued at approximately $88,196,122.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 304,994 shares of company stock worth $38,310,084. Company insiders own 12.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Jamison Private Wealth Management Inc. acquired a new position in CAVA Group in the 2nd quarter worth about $28,000. Nemes Rush Group LLC acquired a new position in shares of CAVA Group in the second quarter valued at approximately $28,000. Mark Sheptoff Financial Planning LLC bought a new position in CAVA Group in the 2nd quarter valued at approximately $36,000. Headlands Technologies LLC acquired a new stake in CAVA Group during the 2nd quarter worth approximately $37,000. Finally, GAMMA Investing LLC grew its holdings in CAVA Group by 68.3% during the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock worth $38,000 after acquiring an additional 125 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

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.