CAVA Group (NYSE:CAVA) Stock Price Expected to Rise, Piper Sandler Analyst Says

CAVA Group (NYSE:CAVA) had its price objective increased by Piper Sandler from $100.00 to $142.00 in a report released on Friday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also weighed in on the stock. Citigroup boosted their price objective on shares of CAVA Group from $140.00 to $163.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Robert W. Baird boosted their price target on CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. TD Cowen increased their price objective on CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Loop Capital boosted their target price on CAVA Group from $122.00 to $147.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Finally, UBS Group assumed coverage on shares of CAVA Group in a report on Friday, September 27th. They set a “neutral” rating and a $135.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, CAVA Group currently has a consensus rating of “Moderate Buy” and an average price target of $143.71.

CAVA Group Trading Down 2.9 %

NYSE CAVA opened at $137.23 on Friday. The stock’s fifty day moving average price is $131.69 and its 200-day moving average price is $104.72. The stock has a market cap of $15.72 billion, a P/E ratio of 295.33 and a beta of 3.23. CAVA Group has a 12 month low of $31.47 and a 12 month high of $172.43.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.11 by $0.04. The company had revenue of $243.82 million for the quarter, compared to the consensus estimate of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. CAVA Group’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.06 EPS. As a group, analysts forecast that CAVA Group will post 0.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On CAVA Group

Large investors have recently added to or reduced their stakes in the company. Jamison Private Wealth Management Inc. bought a new stake in shares of CAVA Group during the 2nd quarter valued at $28,000. Nemes Rush Group LLC purchased a new stake in CAVA Group in the 2nd quarter worth $28,000. GAMMA Investing LLC raised its holdings in CAVA Group by 68.3% during the third quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock valued at $38,000 after acquiring an additional 125 shares during the period. Mark Sheptoff Financial Planning LLC bought a new stake in CAVA Group during the second quarter valued at about $36,000. Finally, Sunbelt Securities Inc. purchased a new position in shares of CAVA Group in the third quarter valued at about $50,000. 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.