Wedbush Boosts CAVA Group (NYSE:CAVA) Price Target to $190.00

CAVA Group (NYSE:CAVA) had its target price raised by Wedbush from $155.00 to $190.00 in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The firm currently has an “outperform” rating on the stock. Wedbush’s target price suggests a potential upside of 37.39% from the stock’s previous close. Wedbush also issued estimates for CAVA Group’s Q4 2024 earnings at $0.06 EPS, FY2024 earnings at $0.50 EPS, Q3 2025 earnings at $0.22 EPS and FY2025 earnings at $0.70 EPS.

A number of other research firms have also commented on CAVA. Jefferies Financial Group lifted their target price on CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Citigroup lifted their target price on CAVA Group from $115.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Robert W. Baird lifted their target price on CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. TD Securities lifted their price objective on CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Finally, UBS Group initiated coverage on CAVA Group in a report on Friday, September 27th. They issued a “neutral” rating and a $135.00 price objective for the company. Eight 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, CAVA Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.14.

CAVA Group Stock Down 6.1 %

CAVA stock opened at $138.29 on Wednesday. CAVA Group has a twelve month low of $31.47 and a twelve month high of $172.43. The firm has a market cap of $15.81 billion, a PE ratio of 298.04 and a beta of 3.23. The business has a 50 day moving average of $130.75 and a 200 day moving average of $103.50.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. The company had revenue of $243.82 million during the quarter, compared to analyst estimates of $233.05 million. CAVA Group had a return on equity of 9.23% and a net margin of 5.88%. The firm’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same quarter last year, the company earned $0.06 EPS. On average, research analysts expect that CAVA Group will post 0.44 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Brett Schulman sold 201,504 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.53, for a total value of $25,294,797.12. Following the transaction, the chief executive officer now directly owns 702,590 shares in the company, valued at $88,196,122.70. The trade was a 22.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Tricia K. Tolivar sold 5,000 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were 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 owns 292,600 shares in the company, valued at $36,762,264. The trade was a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 304,994 shares of company stock worth $38,310,084 over the last ninety days. Corporate insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

Several large investors have recently made changes to their positions in CAVA. Jamison Private Wealth Management Inc. bought a new stake in shares of CAVA Group in the second quarter worth about $28,000. Nemes Rush Group LLC bought a new stake in shares of CAVA Group in the second quarter worth about $28,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of CAVA Group in the second quarter worth about $36,000. Headlands Technologies LLC bought a new stake in shares of CAVA Group in the second quarter worth about $37,000. Finally, GAMMA Investing LLC increased its holdings in shares of CAVA Group by 68.3% in the third quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock worth $38,000 after purchasing an additional 125 shares during the last quarter. 73.15% of the stock is owned by 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.