CAVA Group (NYSE:CAVA) Price Target Raised to $68.00

CAVA Group (NYSE:CAVA) had its price objective upped by Morgan Stanley from $62.00 to $68.00 in a report released on Friday, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities research analysts have also commented on the company. TD Cowen restated a buy rating and issued a $63.00 price objective on shares of CAVA Group in a research note on Wednesday, April 10th. Argus raised shares of CAVA Group from a hold rating to a buy rating and set a $70.00 price objective on the stock in a report on Wednesday, April 10th. Citigroup raised their target price on shares of CAVA Group from $49.00 to $60.00 and gave the company a neutral rating in a research note on Wednesday, February 28th. JPMorgan Chase & Co. lifted their price objective on shares of CAVA Group from $50.00 to $64.00 and gave the stock an overweight rating in a research note on Tuesday, March 19th. Finally, Piper Sandler raised their target price 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. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $59.82.

CAVA Group Trading Down 4.0 %

Shares of CAVA stock opened at $63.75 on Friday. CAVA Group has a 52-week low of $29.05 and a 52-week high of $71.60. The business’s fifty day moving average is $60.23 and its 200 day moving average is $45.51.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Monday, February 26th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. The firm had revenue of $175.50 million for 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 company’s quarterly revenue was up 52.6% on a year-over-year basis. As a group, equities research analysts predict that CAVA Group will post 0.24 earnings per share for the current year.

Insider Activity

In related news, Director International S.C.A. Artal sold 2,000,000 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $66.25, for a total value of $132,500,000.00. Following the sale, the director now directly owns 26,507,990 shares of the company’s stock, valued at $1,756,154,337.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Theodoros Xenohristos sold 47,239 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $68.29, for a total transaction of $3,225,951.31. Following the completion of the transaction, the director now owns 526,521 shares in the company, valued at approximately $35,956,119.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director International S.C.A. Artal sold 2,000,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $1,756,154,337.50. The disclosure for this sale can be found here. Insiders have sold 3,547,239 shares of company stock worth $221,525,951 over the last 90 days.

Hedge Funds Weigh In On CAVA Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC bought a new position in CAVA Group in the third quarter worth $26,000. Montag A & Associates Inc. bought a new position in CAVA Group in the fourth quarter worth $26,000. PNC Financial Services Group Inc. lifted its position in 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 purchasing an additional 570 shares during the period. Clearstead Advisors LLC bought a new position in CAVA Group in the third quarter worth $31,000. Finally, CWM LLC lifted its position in CAVA Group by 101.2% in the first quarter. CWM LLC now owns 505 shares of the company’s stock worth $35,000 after purchasing an additional 254 shares during the period. Institutional investors and hedge funds 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.