CAVA Group (NYSE:CAVA) Reaches New 12-Month High at $71.60

CAVA Group, Inc. (NYSE:CAVAGet Free Report) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $71.60 and last traded at $70.09, with a volume of 292461 shares trading hands. The stock had previously closed at $70.05.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CAVA. Robert W. Baird boosted their price target on shares of CAVA Group from $54.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Morgan Stanley boosted their price target on shares of CAVA Group from $49.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday, February 28th. William Blair reissued an “outperform” rating on shares of CAVA Group in a research report on Tuesday, February 27th. Wedbush reaffirmed an “outperform” rating and set a $65.00 price objective (up previously from $59.00) on shares of CAVA Group in a research note on Tuesday, February 27th. Finally, Piper Sandler boosted their price objective 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. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $56.50.

Check Out Our Latest Research Report on CAVA Group

CAVA Group Stock Down 3.9 %

The stock’s 50 day simple moving average is $57.58 and its 200 day simple moving average is $43.70.

CAVA Group (NYSE:CAVAGet Free Report) last released its quarterly earnings results on Monday, February 26th. The company reported $0.02 EPS for the quarter, topping 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 business had revenue of $175.50 million during the quarter, compared to analysts’ expectations of $240.03 million. The company’s quarterly revenue was up 52.6% on a year-over-year basis. As a group, sell-side analysts expect that CAVA Group, Inc. will post 0.24 earnings per share for the current year.

Insider Activity

In other CAVA Group news, Director Theodoros Xenohristos sold 47,239 shares of the stock in a transaction on 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 sale, the director now owns 526,521 shares of the company’s stock, valued at approximately $35,956,119.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other CAVA Group news, Director Theodoros Xenohristos sold 47,239 shares of the stock in a transaction on 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 sale, the director now owns 526,521 shares of the company’s stock, valued at approximately $35,956,119.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Ronald M. Shaich sold 1,500,000 shares of the stock in a transaction on 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 sale, the insider now directly owns 4,457,634 shares of the company’s stock, valued at approximately $254,976,664.80. 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 Investors Weigh In On CAVA Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC purchased a new stake in shares of CAVA Group in the 3rd quarter worth about $26,000. Montag A & Associates Inc. purchased a new stake in shares of CAVA Group in the 4th quarter worth about $26,000. PNC Financial Services Group Inc. lifted 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 worth $27,000 after purchasing an additional 570 shares during the period. Clearstead Advisors LLC purchased a new stake in shares of CAVA Group in the 3rd quarter worth about $31,000. Finally, Osaic Holdings Inc. purchased a new position in CAVA Group during the 2nd quarter valued at about $74,000. 73.15% of the stock is owned by hedge funds and other institutional investors.

About CAVA Group

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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.

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