CAVA Group (NYSE:CAVA) Price Target Raised to $100.00

CAVA Group (NYSE:CAVA) had its target price raised by Wedbush from $90.00 to $100.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock. Wedbush also issued estimates for CAVA Group’s FY2024 earnings at $0.35 EPS, Q1 2025 earnings at $0.14 EPS, Q2 2025 earnings at $0.18 EPS, Q3 2025 earnings at $0.15 EPS, Q4 2025 earnings at $0.03 EPS and FY2025 earnings at $0.51 EPS.

A number of other research analysts also recently issued reports on CAVA. Morgan Stanley boosted their price objective on CAVA Group from $68.00 to $85.00 and gave the company an overweight rating in a research note on Wednesday, May 29th. Piper Sandler downgraded CAVA Group from an overweight rating to a neutral rating and boosted their price objective for the company from $63.00 to $92.00 in a research note on Thursday, May 30th. Barclays boosted their price objective on CAVA Group from $58.00 to $72.00 and gave the company an equal weight rating in a research note on Thursday, May 30th. Jefferies Financial Group boosted their price objective on CAVA Group from $72.00 to $94.00 and gave the company a buy rating in a research note on Wednesday, May 29th. Finally, JPMorgan Chase & Co. downgraded CAVA Group from an overweight rating to a neutral rating and set a $77.00 price objective on the stock. in a research note on Monday, June 3rd. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CAVA Group has a consensus rating of Moderate Buy and an average price target of $82.33.

CAVA Group Trading Down 1.1 %

Shares of CAVA opened at $84.25 on Thursday. The company has a market capitalization of $9.61 billion and a PE ratio of 205.49. CAVA Group has a 12 month low of $29.05 and a 12 month high of $98.69. The stock’s 50-day moving average price is $86.74 and its two-hundred day moving average price is $66.91.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, May 28th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.04 by $0.08. The firm had revenue of $259.01 million for the quarter, compared to the consensus estimate of $246.02 million. CAVA Group had a return on equity of 5.18% and a net margin of 3.75%. CAVA Group’s revenue was up 27.5% compared to the same quarter last year. Equities research analysts predict that CAVA Group will post 0.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other CAVA Group news, insider Kenneth Robert Bertram sold 5,250 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $95.28, for a total transaction of $500,220.00. Following the completion of the sale, the insider now directly owns 67,005 shares of the company’s stock, valued at approximately $6,384,236.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Tricia K. Tolivar sold 5,949 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $94.47, for a total value of $562,002.03. Following the transaction, the chief financial officer now owns 297,600 shares in the company, valued at approximately $28,114,272. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kenneth Robert Bertram sold 5,250 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $95.28, for a total value of $500,220.00. Following the completion of the transaction, the insider now owns 67,005 shares in the company, valued at approximately $6,384,236.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,420,564 shares of company stock valued at $124,690,835.

Hedge Funds Weigh In On CAVA Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Montag A & Associates Inc. purchased a new position in shares of CAVA Group in the 4th quarter worth approximately $26,000. Jamison Private Wealth Management Inc. purchased a new position in shares of CAVA Group in the 2nd quarter worth approximately $28,000. CWM LLC lifted its stake in CAVA Group by 101.2% in the first quarter. CWM LLC now owns 505 shares of the company’s stock valued at $35,000 after purchasing an additional 254 shares during the last quarter. Mather Group LLC. purchased a new position in CAVA Group in the second quarter valued at approximately $45,000. Finally, American International Group Inc. lifted its stake in CAVA Group by 194.2% in the first quarter. American International Group Inc. now owns 709 shares of the company’s stock valued at $50,000 after purchasing an additional 468 shares during the last quarter. Hedge funds and other 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.