Citigroup Forecasts Strong Price Appreciation for CAVA Group (NYSE:CAVA) Stock

CAVA Group (NYSE:CAVA) had its price objective increased by Citigroup from $140.00 to $163.00 in a research report sent to investors on Wednesday,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other research firms have also recently weighed in on CAVA. William Blair reaffirmed an “outperform” rating on shares of CAVA Group in a report on Wednesday. Wedbush raised their target price on shares of CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday. TD Securities boosted their price target on shares of CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Barclays raised their price objective on shares of CAVA Group from $113.00 to $142.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Robert W. Baird upped their target price on shares of CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $136.57.

CAVA Group Trading Up 1.6 %

Shares of CAVA Group stock opened at $147.31 on Wednesday. The company’s 50-day moving average price is $130.75 and its 200-day moving average price is $103.50. The company has a market cap of $16.84 billion, a price-to-earnings ratio of 320.24 and a beta of 3.23. CAVA Group has a 12-month low of $31.41 and a 12-month high of $172.43.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. The firm had revenue of $243.82 million during the quarter, compared to analyst estimates of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.23%. The business’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.06 EPS. On average, sell-side analysts predict that CAVA Group will post 0.44 earnings per share for the current year.

Insider Buying and Selling at CAVA Group

In other news, CFO Tricia K. Tolivar sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.64, for a total value of $628,200.00. Following the transaction, the chief financial officer now owns 292,600 shares in the company, valued at approximately $36,762,264. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Brett Schulman sold 201,504 shares of CAVA Group stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.53, for a total value of $25,294,797.12. Following the sale, the chief executive officer now directly owns 702,590 shares in the company, valued at approximately $88,196,122.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Tricia K. Tolivar sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.64, for a total value of $628,200.00. Following the transaction, the chief financial officer now owns 292,600 shares of the company’s stock, valued at approximately $36,762,264. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 304,994 shares of company stock worth $38,310,084. 12.10% of the stock is currently owned by insiders.

Institutional Trading of CAVA Group

Large investors have recently added to or reduced their stakes in the stock. Nwam LLC lifted its position in shares of CAVA Group by 2.6% in the 3rd quarter. Nwam LLC now owns 3,368 shares of the company’s stock worth $417,000 after purchasing an additional 85 shares during the period. CIBC Asset Management Inc raised its stake in 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 buying an additional 110 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings 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 buying an additional 113 shares during the period. GAMMA Investing LLC boosted its position in CAVA Group by 68.3% during the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock valued at $38,000 after acquiring an additional 125 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of CAVA Group by 0.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 39,154 shares of the company’s stock worth $3,632,000 after acquiring an additional 184 shares during the period. 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.