CAVA Group (NYSE:CAVA) Hits New 52-Week High at $69.66

CAVA Group, Inc. (NYSE:CAVA)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $69.66 and last traded at $68.95, with a volume of 99144 shares traded. The stock had previously closed at $68.25.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. TD Cowen started coverage on CAVA Group in a report on Wednesday, December 13th. They set an “outperform” rating and a $46.00 price target for the company. Citigroup upped their target price on shares of CAVA Group from $49.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Argus started coverage on shares of CAVA Group in a report on Monday, January 29th. They set a “hold” rating on the stock. Piper Sandler boosted their price objective on shares of CAVA Group from $46.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. increased their target price on CAVA Group from $50.00 to $64.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $56.50.

CAVA Group Trading Up 1.4 %

The business has a 50-day moving average of $55.83 and a 200 day moving average of $42.74.

CAVA Group (NYSE:CAVA) last announced its earnings results on Monday, February 26th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. CAVA Group had a net margin of 1.82% and a return on equity of 4.28%. The company had revenue of $175.50 million during the quarter, compared to analyst estimates of $240.03 million. The firm’s revenue for the quarter was up 52.6% compared to the same quarter last year. As a group, equities analysts forecast that CAVA Group, Inc. will post 0.24 EPS for the current year.

Insider Activity at CAVA Group

In other CAVA Group news, Director International S.C.A. Artal sold 2,000,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $66.25, for a total value of $132,500,000.00. Following the completion of the sale, the director now owns 26,507,990 shares in the company, valued at $1,756,154,337.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director International S.C.A. Artal sold 2,000,000 shares of the firm’s 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 sale, the director now directly owns 26,507,990 shares in the company, valued at approximately $1,756,154,337.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Ronald M. Shaich sold 1,500,000 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $57.20, for a total value of $85,800,000.00. Following the completion of the sale, the insider now owns 4,457,634 shares of the company’s stock, valued at approximately $254,976,664.80. The disclosure for this sale can be found here.

Institutional Trading of CAVA Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC purchased a new position in shares of CAVA Group in the third quarter worth $26,000. Montag A & Associates Inc. bought a new stake in shares of CAVA Group in the fourth quarter worth about $26,000. PNC Financial Services Group Inc. lifted its position in shares of CAVA Group by 190.0% in the third quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock worth $27,000 after buying an additional 570 shares in the last quarter. Clearstead Advisors LLC bought a new position in CAVA Group during the third quarter valued at approximately $31,000. Finally, Osaic Holdings Inc. bought a new position in shares of CAVA Group during the 2nd quarter valued at approximately $74,000. 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.