Brokerages Set CAVA Group, Inc. (NYSE:CAVA) Price Target at $143.80

Shares of CAVA Group, Inc. (NYSE:CAVA) have been given an average rating of “Moderate Buy” by the sixteen ratings firms that are covering the stock, Marketbeat.com reports. Eight research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $143.80.

A number of analysts have recently commented on the company. Morgan Stanley lifted their target price on CAVA Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Sanford C. Bernstein started coverage on CAVA Group in a research note on Wednesday, November 20th. They issued a “market perform” rating and a $145.00 price objective for the company. UBS Group initiated coverage on shares of CAVA Group in a research report on Friday, September 27th. They set a “neutral” rating and a $135.00 target price on the stock. Barclays upped their price target 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, November 13th. Finally, Robert W. Baird increased their target price on shares of CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th.

CAVA Group Stock Up 1.7 %

CAVA stock opened at $119.05 on Monday. The business has a 50 day moving average price of $136.66 and a 200 day moving average price of $114.09. The stock has a market cap of $13.64 billion, a price-to-earnings ratio of 258.80 and a beta of 2.93. CAVA Group has a fifty-two week low of $39.05 and a fifty-two week high of $172.43.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.04. The business had revenue of $243.82 million during the quarter, compared to the consensus estimate of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The company’s revenue was up 38.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.06 EPS. As a group, sell-side analysts anticipate that CAVA Group will post 0.5 EPS for the current year.

Insiders Place Their Bets

In other CAVA Group news, Director Karen Kochevar sold 15,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $140.00, for a total value of $2,100,000.00. Following the completion of the transaction, the director now directly owns 1,307 shares of the company’s stock, valued at approximately $182,980. This trade represents a 91.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ronald M. Shaich sold 622,549 shares of CAVA Group stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $149.40, for a total transaction of $93,008,820.60. Following the sale, the director now owns 6,307 shares of the company’s stock, valued at approximately $942,265.80. The trade was a 99.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 652,549 shares of company stock worth $97,242,271. Company insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On CAVA Group

Several hedge funds have recently bought and sold shares of the company. Conway Capital Management Inc. acquired a new position in CAVA Group during the third quarter worth about $5,524,000. SpiderRock Advisors LLC raised its position in shares of CAVA Group by 8.9% during the 3rd quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock worth $59,364,000 after purchasing an additional 39,319 shares during the last quarter. Xponance Inc. raised its position in shares of CAVA Group by 95.2% during the 2nd quarter. Xponance Inc. now owns 9,846 shares of the company’s stock worth $913,000 after purchasing an additional 4,803 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in CAVA Group by 262.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock valued at $63,918,000 after buying an additional 373,835 shares in the last quarter. Finally, PFG Investments LLC grew its holdings in CAVA Group by 36.8% during the 3rd quarter. PFG Investments LLC now owns 15,907 shares of the company’s stock valued at $1,970,000 after buying an additional 4,275 shares during the last quarter. 73.15% of the stock is owned by hedge funds and other 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.