CAVA Group (NYSE:CAVA) Trading 5% Higher on Analyst Upgrade

CAVA Group, Inc. (NYSE:CAVA) shares rose 5% on Friday after Stifel Nicolaus raised their price target on the stock from $66.00 to $90.00. Stifel Nicolaus currently has a buy rating on the stock. CAVA Group traded as high as $81.68 and last traded at $81.49. Approximately 480,163 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 2,197,114 shares. The stock had previously closed at $77.60.

Other equities research analysts have also issued reports about the stock. Piper Sandler lifted their price target on shares of CAVA Group from $46.00 to $63.00 and gave the company an “overweight” rating in a research note on Wednesday, February 28th. Robert W. Baird lifted their price target on shares of CAVA Group from $54.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Morgan Stanley lifted their price target on shares of CAVA Group from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Argus upgraded shares of CAVA Group from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Wednesday, April 10th. Finally, JPMorgan Chase & Co. lifted their price target on shares of 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 ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $65.08.

Insider Buying and Selling

In related news, major shareholder Ronald M. Shaich sold 1,500,000 shares of CAVA Group stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $57.20, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Ronald M. Shaich sold 1,500,000 shares of CAVA Group stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $57.20, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director International S.C.A. Artal sold 2,000,000 shares of the business’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 completion of the sale, the director now directly owns 26,507,990 shares of the company’s stock, valued at approximately $1,756,154,337.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,547,239 shares of company stock valued at $221,525,951.

Institutional Trading of CAVA Group

Institutional investors have recently bought and sold shares of the business. CWM LLC raised its position in shares of CAVA Group by 101.2% in the 1st quarter. CWM LLC now owns 505 shares of the company’s stock valued at $35,000 after buying an additional 254 shares in the last quarter. Miracle Mile Advisors LLC raised its position in shares of CAVA Group by 4.4% in the 1st quarter. Miracle Mile Advisors LLC now owns 7,574 shares of the company’s stock valued at $531,000 after buying an additional 318 shares in the last quarter. Montag A & Associates Inc. raised its position in shares of CAVA Group by 66.7% in the 1st quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock valued at $70,000 after buying an additional 400 shares in the last quarter. American International Group Inc. raised its position in shares of CAVA Group by 194.2% in the 1st quarter. American International Group Inc. now owns 709 shares of the company’s stock valued at $50,000 after buying an additional 468 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of CAVA Group by 190.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock valued at $27,000 after buying an additional 570 shares in the last quarter. Institutional investors own 73.15% of the company’s stock.

CAVA Group Stock Up 4.7 %

The firm’s 50-day moving average price is $68.52 and its 200 day moving average price is $52.88.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Monday, February 26th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $175.50 million during the quarter, compared to analysts’ expectations of $240.03 million. CAVA Group had a net margin of 1.82% and a return on equity of 4.28%. CAVA Group’s quarterly revenue was up 52.6% on a year-over-year basis. Sell-side analysts predict that CAVA Group, Inc. will post 0.25 earnings per share for the current fiscal year.

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.