Analysts Set CAVA Group, Inc. (NYSE:CAVA) PT at $60.42

CAVA Group, Inc. (NYSE:CAVA) has received a consensus rating of “Moderate Buy” from the fourteen brokerages that are currently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $60.42.

CAVA has been the topic of a number of recent research reports. Robert W. Baird increased their price target on CAVA Group from $54.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. Morgan Stanley boosted their price target on shares of CAVA Group from $62.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, April 12th. JPMorgan Chase & Co. lifted their price target on CAVA Group from $50.00 to $64.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Citigroup raised their price objective on CAVA Group from $49.00 to $60.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Finally, William Blair reiterated an “outperform” rating on shares of CAVA Group in a research note on Tuesday, February 27th.

CAVA Group Stock Performance

CAVA Group stock opened at $74.21 on Friday. CAVA Group has a 12-month low of $29.05 and a 12-month high of $77.14. The firm has a 50-day moving average price of $64.78 and a 200-day moving average price of $49.54.

CAVA Group (NYSE:CAVA) last issued its earnings results on Monday, February 26th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. CAVA Group had a net margin of 1.82% and a return on equity of 4.28%. The firm had revenue of $175.50 million during the quarter, compared to analyst estimates of $240.03 million. The firm’s quarterly revenue was up 52.6% compared to the same quarter last year. As a group, analysts predict that CAVA Group will post 0.25 earnings per share for the current fiscal year.

Insider Activity at CAVA Group

In other CAVA Group news, Director Theodoros Xenohristos sold 47,239 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $68.29, for a total value of $3,225,951.31. Following the sale, the director now directly owns 526,521 shares of the company’s stock, valued at $35,956,119.09. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other CAVA Group news, Director Theodoros Xenohristos sold 47,239 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $68.29, for a total transaction of $3,225,951.31. Following the completion of the sale, the director now directly owns 526,521 shares in the company, valued at approximately $35,956,119.09. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director International S.C.A. Artal sold 2,000,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 26,507,990 shares in the company, valued at approximately $1,756,154,337.50. The disclosure for this sale can be found here. Insiders sold a total of 3,547,239 shares of company stock worth $221,525,951 in the last three months.

Institutional Investors Weigh In On CAVA Group

A number of large investors have recently modified their holdings of the business. Sei Investments Co. lifted its stake in CAVA Group by 70.6% in the 1st quarter. Sei Investments Co. now owns 35,784 shares of the company’s stock worth $2,507,000 after purchasing an additional 14,811 shares in the last quarter. Montag A & Associates Inc. increased its position in shares of CAVA Group by 66.7% during the first quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock valued at $70,000 after acquiring an additional 400 shares during the last quarter. Swiss National Bank raised its holdings in shares of CAVA Group by 50.2% in the 1st quarter. Swiss National Bank now owns 67,300 shares of the company’s stock valued at $4,714,000 after buying an additional 22,500 shares during the period. Zevenbergen Capital Investments LLC purchased a new position in CAVA Group in the 1st quarter valued at approximately $571,000. Finally, ClariVest Asset Management LLC purchased a new position in shares of CAVA Group in the 1st quarter valued at about $1,488,000. 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.