CAVA Group (NYSE:CAVA) Upgraded to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of CAVA Group (NYSE:CAVA) from a neutral rating to an overweight rating in a research report sent to investors on Thursday morning, MarketBeat reports. JPMorgan Chase & Co. currently has $110.00 price objective on the stock.

Several other research firms also recently weighed in on CAVA. William Blair reissued an “outperform” rating on shares of CAVA Group in a research note on Wednesday, February 26th. Citigroup decreased their price target on shares of CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. TD Securities decreased their price target on shares of CAVA Group from $150.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. UBS Group reduced their target price on shares of CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, Barclays reduced their target price on shares of CAVA Group from $127.00 to $104.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $131.47.

CAVA Group Stock Up 4.6 %

Shares of NYSE CAVA opened at $84.69 on Thursday. The company’s 50-day simple moving average is $111.31 and its 200-day simple moving average is $123.09. CAVA Group has a 52-week low of $58.22 and a 52-week high of $172.43. The firm has a market cap of $9.79 billion, a price-to-earnings ratio of 184.10 and a beta of 3.58.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The company had revenue of $227.40 million during the quarter, compared to analyst estimates of $223.34 million. Equities research analysts anticipate that CAVA Group will post 0.5 EPS for the current fiscal year.

Insider Activity

In related news, CFO Tricia K. Tolivar sold 2,086 shares of CAVA Group stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total value of $248,609.48. Following the completion of the transaction, the chief financial officer now owns 235,592 shares in the company, valued at approximately $28,077,854.56. The trade was a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Theodoros Xenohristos sold 851 shares of CAVA Group stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $101,422.18. Following the completion of the transaction, the insider now owns 358,995 shares of the company’s stock, valued at $42,785,024.10. This trade represents a 0.24 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,235 shares of company stock valued at $3,514,101. Company insiders own 12.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of CAVA Group by 20.4% in the fourth quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company’s stock valued at $903,709,000 after purchasing an additional 1,357,187 shares in the last quarter. FMR LLC grew its holdings in CAVA Group by 14.1% during the 4th quarter. FMR LLC now owns 3,976,353 shares of the company’s stock worth $448,533,000 after acquiring an additional 491,320 shares in the last quarter. Jennison Associates LLC grew its holdings in CAVA Group by 36,658.7% during the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock worth $277,683,000 after acquiring an additional 2,455,035 shares in the last quarter. Two Sigma Advisers LP grew its holdings in CAVA Group by 17.0% during the 3rd quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock worth $273,820,000 after acquiring an additional 321,800 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in CAVA Group by 33.0% during the 4th quarter. Federated Hermes Inc. now owns 1,464,987 shares of the company’s stock worth $165,243,000 after acquiring an additional 363,814 shares in the last quarter. Institutional investors and hedge funds 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.