CAVA Group (NYSE:CAVA) Price Target Raised to $74.00 at Wedbush

CAVA Group (NYSE:CAVA) had its target price boosted by analysts at Wedbush from $65.00 to $74.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Wedbush’s price objective indicates a potential upside of 19.90% from the stock’s current price.

A number of other research analysts also recently weighed in on the company. TD Cowen restated a “buy” rating and issued a $63.00 price target on shares of CAVA Group in a research note on Wednesday, April 10th. William Blair reissued an “outperform” rating on shares of CAVA Group in a report on Tuesday, February 27th. Barclays assumed coverage on CAVA Group in a report on Monday. They set an “equal weight” rating and a $58.00 price target for the company. Morgan Stanley lifted their price target on CAVA Group from $62.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Robert W. Baird lifted their price objective on CAVA Group from $54.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, CAVA Group presently has a consensus rating of “Moderate Buy” and an average target price of $60.42.

CAVA Group Stock Down 3.2 %

NYSE CAVA opened at $61.72 on Tuesday. CAVA Group has a one year low of $29.05 and a one year high of $71.60. The stock’s 50-day moving average is $60.49 and its 200-day moving average is $45.72.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Monday, February 26th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $175.50 million during the quarter, compared to the consensus estimate of $240.03 million. CAVA Group had a return on equity of 4.28% and a net margin of 1.82%. CAVA Group’s revenue was up 52.6% on a year-over-year basis. On average, equities research analysts forecast that CAVA Group will post 0.24 EPS for the current year.

Insider Transactions at CAVA Group

In other news, Director Theodoros Xenohristos sold 47,239 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $68.29, for a total transaction of $3,225,951.31. Following the completion of the transaction, the director now owns 526,521 shares of the company’s stock, valued at approximately $35,956,119.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Theodoros Xenohristos sold 47,239 shares of the business’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $68.29, for a total transaction of $3,225,951.31. Following the sale, the director now owns 526,521 shares in the company, valued at approximately $35,956,119.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director International S.C.A. Artal sold 2,000,000 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $66.25, for a total value of $132,500,000.00. Following the sale, the director now owns 26,507,990 shares in the company, valued at approximately $1,756,154,337.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,547,239 shares of company stock valued at $221,525,951.

Institutional Investors Weigh In On CAVA Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Capital Research Global Investors grew its position in shares of CAVA Group by 249.5% in the 4th quarter. Capital Research Global Investors now owns 4,369,281 shares of the company’s stock valued at $187,792,000 after buying an additional 3,119,281 shares during the last quarter. 1832 Asset Management L.P. grew its stake in CAVA Group by 79.5% during the fourth quarter. 1832 Asset Management L.P. now owns 2,248,400 shares of the company’s stock worth $96,636,000 after purchasing an additional 995,800 shares during the period. Vanguard Group Inc. grew its stake in CAVA Group by 7.2% during the fourth quarter. Vanguard Group Inc. now owns 1,566,196 shares of the company’s stock worth $67,315,000 after purchasing an additional 105,372 shares during the period. Jennison Associates LLC grew its stake in CAVA Group by 24.7% during the fourth quarter. Jennison Associates LLC now owns 1,222,240 shares of the company’s stock worth $52,532,000 after purchasing an additional 242,376 shares during the period. Finally, FMR LLC grew its stake in CAVA Group by 92.1% during the third quarter. FMR LLC now owns 1,138,113 shares of the company’s stock worth $34,860,000 after purchasing an additional 545,799 shares during the period. Institutional investors 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.