CAVA Group (NYSE:CAVA) Shares Gap Up – Should You Buy?

CAVA Group, Inc. (NYSE:CAVA)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $81.00, but opened at $82.62. CAVA Group shares last traded at $85.34, with a volume of 719,354 shares.

Wall Street Analyst Weigh In

CAVA has been the topic of several research analyst reports. TD Securities lowered their price objective on shares of CAVA Group from $150.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Wedbush reiterated an “outperform” rating and set a $150.00 price target on shares of CAVA Group in a research note on Wednesday, February 26th. JPMorgan Chase & Co. upgraded shares of CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 price target on the stock in a research note on Thursday. Piper Sandler upgraded shares of CAVA Group from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $142.00 to $115.00 in a research note on Friday, February 28th. Finally, UBS Group decreased their price target on shares of CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $131.47.

CAVA Group Stock Down 1.3 %

The stock has a fifty day moving average of $110.68 and a 200-day moving average of $122.88. The firm has a market capitalization of $9.66 billion, a P/E ratio of 181.71 and a beta of 3.58.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $227.40 million for the quarter, compared to the consensus estimate of $223.34 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. As a group, analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other CAVA Group news, CEO Brett Schulman sold 20,564 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total transaction of $2,450,817.52. Following the completion of the sale, the chief executive officer now directly owns 776,369 shares of the company’s stock, valued at approximately $92,527,657.42. The trade was a 2.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Adam David Phillips sold 615 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $76,499.85. Following the sale, the chief accounting officer now directly owns 10,884 shares of the company’s stock, valued at $1,353,860.76. This represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 29,235 shares of company stock valued at $3,514,101. 12.10% of the stock is currently owned by insiders.

Institutional Trading of CAVA Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Arcadia Investment Management Corp MI bought a new stake in shares of CAVA Group in the 4th quarter valued at about $25,000. Allworth Financial LP increased its stake in shares of CAVA Group by 369.2% in the 4th quarter. Allworth Financial LP now owns 244 shares of the company’s stock valued at $30,000 after acquiring an additional 192 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of CAVA Group by 274.0% in the 4th quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock valued at $31,000 after acquiring an additional 200 shares during the last quarter. Whittier Trust Co. increased its stake in shares of CAVA Group by 80.9% in the 4th quarter. Whittier Trust Co. now owns 284 shares of the company’s stock valued at $32,000 after acquiring an additional 127 shares during the last quarter. Finally, Signaturefd LLC increased its stake in shares of CAVA Group by 884.4% in the 4th quarter. Signaturefd LLC now owns 315 shares of the company’s stock valued at $36,000 after acquiring an additional 283 shares during the last quarter. 73.15% of the stock is 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.