TD Securities Raises CAVA Group (NYSE:CAVA) Price Target to $130.00

CAVA Group (NYSE:CAVA) had its price objective hoisted by TD Securities from $115.00 to $130.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

CAVA has been the subject of a number of other research reports. Robert W. Baird upped their price objective on CAVA Group from $105.00 to $125.00 and gave the company an outperform rating in a research report on Friday, August 23rd. Citigroup upped their price target on CAVA Group from $93.00 to $115.00 and gave the stock a neutral rating in a research report on Friday, August 23rd. Jefferies Financial Group upped their price target on CAVA Group from $94.00 to $117.00 and gave the stock a buy rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. upped their price target on CAVA Group from $77.00 to $90.00 and gave the stock a neutral rating in a research report on Monday, August 26th. Finally, Wedbush upped their price target on CAVA Group from $100.00 to $120.00 and gave the stock an outperform rating in a research report on Friday, August 23rd. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $114.15.

CAVA Group Price Performance

Shares of NYSE:CAVA opened at $127.07 on Tuesday. The company has a market cap of $14.53 billion, a P/E ratio of 309.93 and a beta of 3.34. CAVA Group has a 1 year low of $29.05 and a 1 year high of $131.82. The stock’s fifty day moving average price is $104.31 and its 200-day moving average price is $86.85.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Thursday, August 22nd. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. The firm had revenue of $233.50 million for the quarter, compared to the consensus estimate of $219.47 million. CAVA Group had a return on equity of 7.37% and a net margin of 5.04%. The company’s quarterly revenue was up 35.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 earnings per share. On average, sell-side analysts anticipate that CAVA Group will post 0.43 earnings per share for the current year.

Insider Activity at CAVA Group

In related news, CFO Tricia K. Tolivar sold 5,949 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $94.47, for a total transaction of $562,002.03. Following the completion of the transaction, the chief financial officer now directly owns 297,600 shares of the company’s stock, valued at $28,114,272. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Theodoros Xenohristos sold 98,490 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the completion of the transaction, the director now directly owns 424,846 shares of the company’s stock, valued at $53,432,881.42. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Tricia K. Tolivar sold 5,949 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $94.47, for a total value of $562,002.03. Following the transaction, the chief financial officer now directly owns 297,600 shares of the company’s stock, valued at $28,114,272. The disclosure for this sale can be found here. Over the last three months, insiders sold 310,943 shares of company stock valued at $38,872,086.

Hedge Funds Weigh In On CAVA Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Private Advisor Group LLC boosted its holdings in shares of CAVA Group by 69.1% in the 1st quarter. Private Advisor Group LLC now owns 33,619 shares of the company’s stock worth $2,355,000 after purchasing an additional 13,739 shares during the period. CHURCHILL MANAGEMENT Corp purchased a new position in shares of CAVA Group in the 1st quarter worth approximately $3,213,000. Stephens Inc. AR purchased a new position in shares of CAVA Group in the 4th quarter worth approximately $1,014,000. Cetera Investment Advisers purchased a new position in shares of CAVA Group in the 1st quarter worth approximately $2,455,000. Finally, Intech Investment Management LLC purchased a new position in shares of CAVA Group in the 2nd quarter worth approximately $1,728,000. Hedge funds and other institutional investors own 73.15% of the company’s stock.

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.