Brokerages Set CAVA Group, Inc. (NYSE:CAVA) Target Price at $143.80

CAVA Group, Inc. (NYSE:CAVA) has been given an average recommendation of “Moderate Buy” by the sixteen analysts that are covering the firm, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $143.80.

CAVA has been the topic of several research analyst reports. Wedbush increased their price target on CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Jefferies Financial Group upped their price target on CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Robert W. Baird increased their price objective on shares of CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Loop Capital lifted their target price on CAVA Group from $122.00 to $147.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Finally, Sanford C. Bernstein began coverage on shares of CAVA Group in a report on Wednesday, November 20th. They issued a “market perform” rating and a $145.00 price target on the stock.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, Director Karen Kochevar sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $142.23, for a total value of $2,133,450.00. Following the completion of the sale, the director now owns 1,307 shares of the company’s stock, valued at $185,894.61. This trade represents a 91.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 12.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in CAVA Group by 215.7% during the 1st quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock valued at $346,330,000 after acquiring an additional 3,377,840 shares during the period. Capital Research Global Investors boosted its stake in shares of CAVA Group by 21.6% during the first quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock valued at $372,059,000 after purchasing an additional 942,054 shares during the period. Geode Capital Management LLC boosted its stake in shares of CAVA Group by 121.0% during the third quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock valued at $151,492,000 after purchasing an additional 669,599 shares during the period. Renaissance Technologies LLC grew its holdings in shares of CAVA Group by 102.5% in the second quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock worth $82,770,000 after purchasing an additional 451,800 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in CAVA Group by 262.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock worth $63,918,000 after buying an additional 373,835 shares during the period. Institutional investors own 73.15% of the company’s stock.

CAVA Group Stock Performance

NYSE:CAVA opened at $142.56 on Thursday. The firm has a 50-day simple moving average of $133.66 and a two-hundred day simple moving average of $107.15. The firm has a market cap of $16.33 billion, a P/E ratio of 315.22 and a beta of 3.23. CAVA Group has a fifty-two week low of $31.47 and a fifty-two week high of $172.43.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The company had revenue of $243.82 million during the quarter, compared to analyst estimates of $233.05 million. During the same period in the previous year, the business earned $0.06 EPS. The firm’s revenue for the quarter was up 38.9% on a year-over-year basis. On average, equities research analysts predict that CAVA Group will post 0.5 EPS for the current year.

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.