CAVA Group (NYSE:CAVA) Price Target Raised to $142.00 at Piper Sandler

CAVA Group (NYSE:CAVA) had its price target boosted by research analysts at Piper Sandler from $100.00 to $142.00 in a report released on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s target price suggests a potential upside of 1.61% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Robert W. Baird raised their price objective on CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Barclays raised their price objective on CAVA Group from $113.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Citigroup raised their price objective on CAVA Group from $140.00 to $163.00 and gave the stock a “neutral” rating in a research note on Wednesday. William Blair reissued an “outperform” rating on shares of CAVA Group in a research note on Wednesday. Finally, Wedbush raised their target price on CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $143.71.

CAVA Group Trading Up 1.0 %

CAVA traded up $1.41 during trading hours on Friday, hitting $139.75. The company’s stock had a trading volume of 1,654,007 shares, compared to its average volume of 2,753,076. CAVA Group has a fifty-two week low of $31.47 and a fifty-two week high of $172.43. The firm has a market capitalization of $15.98 billion, a PE ratio of 303.80 and a beta of 3.23. The company has a 50-day simple moving average of $130.75 and a 200 day simple moving average of $103.50.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.04. CAVA Group had a return on equity of 9.23% and a net margin of 5.88%. The company had revenue of $243.82 million for the quarter, compared to analysts’ expectations of $233.05 million. During the same period last year, the firm earned $0.06 EPS. The firm’s revenue for the quarter was up 38.9% on a year-over-year basis. Research analysts expect that CAVA Group will post 0.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CAVA Group news, Director Theodoros Xenohristos sold 98,490 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.77, for a total value of $12,387,087.30. Following the completion of the transaction, the director now owns 424,846 shares of the company’s stock, valued at $53,432,881.42. This represents a 18.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 completion of the sale, the chief financial officer now owns 292,600 shares in the company, valued at approximately $36,762,264. This represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 304,994 shares of company stock valued at $38,310,084. Insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

A number of large investors have recently bought and sold shares of CAVA. Vanguard Group Inc. grew its position in CAVA Group by 215.7% during the 1st 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. Capital Research Global Investors lifted its holdings in CAVA Group by 21.6% during the 1st quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock worth $372,059,000 after buying an additional 942,054 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in CAVA Group by 102.5% during the 2nd quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock worth $82,770,000 after buying an additional 451,800 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in CAVA Group by 262.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock worth $63,918,000 after buying an additional 373,835 shares in the last quarter. Finally, Eagle Asset Management Inc. lifted its holdings in CAVA Group by 233.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 398,991 shares of the company’s stock worth $49,415,000 after buying an additional 279,306 shares in the last quarter. 73.15% of the stock is currently owned by institutional investors.

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.