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

CAVA Group (NYSE:CAVA) had its price objective increased by Citigroup from $140.00 to $163.00 in a research report sent to investors on Wednesday,Benzinga reports. Citigroup currently has a neutral rating on the stock.

A number of other analysts also recently issued reports on the company. Stifel Nicolaus lifted their price target on CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday. William Blair reiterated an “outperform” rating on shares of CAVA Group in a research report on Wednesday. TD Securities lifted their price target on CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Morgan Stanley downgraded CAVA Group from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $90.00 to $110.00 in a research report on Thursday, August 29th. Finally, Robert W. Baird lifted their price target on CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $143.71.

CAVA Group Stock Up 2.2 %

Shares of NYSE CAVA opened at $141.38 on Wednesday. CAVA Group has a 52 week low of $31.47 and a 52 week high of $172.43. The business has a 50-day simple moving average of $131.69 and a two-hundred day simple moving average of $104.46. The company has a market cap of $16.16 billion, a P/E ratio of 307.35 and a beta of 3.23.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.11 by $0.04. CAVA Group had a return on equity of 9.23% and a net margin of 5.88%. The business had revenue of $243.82 million during the quarter, compared to the consensus estimate of $233.05 million. During the same quarter last year, the company earned $0.06 EPS. The firm’s revenue was up 38.9% compared to the same quarter last year. Equities research analysts anticipate that CAVA Group will post 0.46 EPS for the current year.

Insider Buying and Selling

In other CAVA Group news, Director Theodoros Xenohristos sold 98,490 shares of CAVA Group stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.77, for a total value of $12,387,087.30. Following the transaction, the director now directly owns 424,846 shares of the company’s stock, valued at $53,432,881.42. The trade was a 18.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Tricia K. Tolivar sold 5,000 shares of CAVA Group stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 292,600 shares in the company, valued at $36,762,264. This trade represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 304,994 shares of company stock worth $38,310,084 in the last quarter. 12.10% of the stock is owned by insiders.

Hedge Funds Weigh In On CAVA Group

Several hedge funds have recently made changes to their positions in CAVA. Jamison Private Wealth Management Inc. purchased a new position in shares of CAVA Group during the second quarter valued at approximately $28,000. Nemes Rush Group LLC purchased a new position in shares of CAVA Group during the second quarter valued at approximately $28,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of CAVA Group during the second quarter valued at approximately $36,000. Headlands Technologies LLC purchased a new position in shares of CAVA Group during the second quarter valued at approximately $37,000. Finally, GAMMA Investing LLC boosted its position in shares of 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 purchasing an additional 125 shares in the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

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.