CAVA Group (NYSE:CAVA) Sets New 52-Week High at $75.96

CAVA Group, Inc. (NYSE:CAVA)’s stock price reached a new 52-week high on Monday . The stock traded as high as $75.96 and last traded at $75.92, with a volume of 795818 shares traded. The stock had previously closed at $72.17.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CAVA shares. Argus raised CAVA Group from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Wednesday, April 10th. Piper Sandler raised their price objective on CAVA Group from $46.00 to $63.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. Morgan Stanley upped their target price on CAVA Group from $62.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Barclays initiated coverage on shares of CAVA Group in a report on Monday, April 15th. They set an “equal weight” rating and a $58.00 target price for the company. Finally, Wedbush upped their price target on shares of CAVA Group from $65.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday, April 16th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.42.

CAVA Group Price Performance

The business has a fifty day simple moving average of $63.95 and a 200 day simple moving average of $48.96.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Monday, February 26th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.01. The business had revenue of $175.50 million during the quarter, compared to the consensus estimate of $240.03 million. CAVA Group had a return on equity of 4.28% and a net margin of 1.82%. The business’s revenue for the quarter was up 52.6% compared to the same quarter last year. Equities research analysts expect that CAVA Group, Inc. will post 0.25 EPS for the current year.

Insider Buying and Selling

In other CAVA Group news, Director Theodoros Xenohristos sold 47,239 shares of CAVA Group stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $68.29, for a total value of $3,225,951.31. Following the transaction, the director now owns 526,521 shares in the company, valued at approximately $35,956,119.09. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director International S.C.A. Artal sold 2,000,000 shares of CAVA Group stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $66.25, for a total transaction of $132,500,000.00. Following the transaction, the director now owns 26,507,990 shares in the company, valued at approximately $1,756,154,337.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Theodoros Xenohristos sold 47,239 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $68.29, for a total value of $3,225,951.31. Following the completion of the sale, the director now directly owns 526,521 shares of the company’s stock, valued at approximately $35,956,119.09. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,547,239 shares of company stock worth $221,525,951.

Hedge Funds Weigh In On CAVA Group

Several hedge funds and other institutional investors have recently bought and sold shares of CAVA. Headlands Technologies LLC purchased a new stake in shares of CAVA Group during the third quarter worth about $26,000. Montag A & Associates Inc. acquired a new position in shares of CAVA Group in the 4th quarter valued at approximately $26,000. PNC Financial Services Group Inc. boosted its stake in shares of CAVA Group by 190.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock valued at $27,000 after buying an additional 570 shares during the last quarter. Clearstead Advisors LLC acquired a new stake in shares of CAVA Group during the third quarter worth approximately $31,000. Finally, CWM LLC increased its stake in shares of CAVA Group by 101.2% in the first quarter. CWM LLC now owns 505 shares of the company’s stock worth $35,000 after buying an additional 254 shares during the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

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.