CAVA Group (NYSE:CAVA) Given New $150.00 Price Target at TD Cowen

CAVA Group (NYSE:CAVA) had its price objective lifted by TD Cowen from $130.00 to $150.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also issued reports on the company. Barclays boosted their price objective on CAVA Group from $95.00 to $113.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Morgan Stanley downgraded shares of CAVA Group from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $90.00 to $110.00 in a report on Thursday, August 29th. Jefferies Financial Group increased their price objective on shares of CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Stifel Nicolaus boosted their target price on shares of CAVA Group from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Finally, Wedbush upped their target price on shares of CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $143.71.

CAVA Group Price Performance

NYSE CAVA opened at $141.23 on Wednesday. The company has a market capitalization of $16.15 billion, a price-to-earnings ratio of 307.02 and a beta of 3.23. CAVA Group has a 12 month low of $31.47 and a 12 month high of $172.43. The company’s fifty day moving average price is $131.69 and its two-hundred day moving average price is $104.24.

CAVA Group (NYSE:CAVA) last released its earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.04. CAVA Group had a net margin of 5.88% and a return on equity of 9.23%. The firm had revenue of $243.82 million during the quarter, compared to analyst estimates of $233.05 million. During the same quarter in the previous year, the firm earned $0.06 earnings per share. The firm’s revenue for the quarter was up 38.9% compared to the same quarter last year. As a group, analysts anticipate that CAVA Group will post 0.46 EPS for the current year.

Insider Activity

In other CAVA Group news, CFO Tricia K. Tolivar sold 5,000 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.64, for a total value of $628,200.00. Following the transaction, the chief financial officer now owns 292,600 shares of the company’s stock, valued at approximately $36,762,264. This represents a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brett Schulman sold 201,504 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.53, for a total value of $25,294,797.12. Following the sale, the chief executive officer now directly owns 702,590 shares of the company’s stock, valued at approximately $88,196,122.70. This represents a 22.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 304,994 shares of company stock worth $38,310,084. 12.10% of the stock is owned by company insiders.

Institutional Trading of CAVA Group

Hedge funds have recently bought and sold shares of the company. SpiderRock Advisors LLC lifted its position in shares of CAVA Group by 8.9% in the 3rd quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock valued at $59,364,000 after acquiring an additional 39,319 shares in the last quarter. Xponance Inc. boosted its position in shares of CAVA Group by 95.2% in the second quarter. Xponance Inc. now owns 9,846 shares of the company’s stock worth $913,000 after buying an additional 4,803 shares during the period. PFG Investments LLC grew its holdings in shares of CAVA Group by 36.8% during the third 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 in the last quarter. Intech Investment Management LLC acquired a new position in CAVA Group during the second quarter valued at $1,728,000. Finally, Aigen Investment Management LP purchased a new stake in CAVA Group in the 3rd quarter worth about $1,293,000. 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.