CAVA Group (NYSE:CAVA) Hits New 12-Month High at $74.58

CAVA Group, Inc. (NYSE:CAVA) shares reached a new 52-week high on Tuesday . The stock traded as high as $74.58 and last traded at $72.83, with a volume of 1351816 shares traded. The stock had previously closed at $70.59.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CAVA. Argus upgraded shares of CAVA Group from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Wednesday, April 10th. Wedbush boosted their price target on CAVA Group from $65.00 to $74.00 and gave the company an “outperform” rating in a report on Tuesday, April 16th. TD Cowen restated a “buy” rating and issued a $63.00 price target on shares of CAVA Group in a research report on Wednesday, April 10th. William Blair reaffirmed an “outperform” rating on shares of CAVA Group in a research report on Tuesday, February 27th. Finally, JPMorgan Chase & Co. boosted their price objective on CAVA Group from $50.00 to $64.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.42.

CAVA Group Stock Up 2.1 %

The stock has a fifty day moving average of $62.43 and a 200 day moving average of $47.95.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Monday, February 26th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. The firm had revenue of $175.50 million for the quarter, compared to analysts’ expectations of $240.03 million. CAVA Group had a net margin of 1.82% and a return on equity of 4.28%. The company’s revenue was up 52.6% on a year-over-year basis. As a group, analysts anticipate that CAVA Group, Inc. will post 0.25 earnings per share for the current year.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $57.20, for a total transaction of $85,800,000.00. Following the completion of the transaction, the insider now owns 4,457,634 shares in the company, valued at approximately $254,976,664.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director International S.C.A. Artal sold 2,000,000 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $66.25, for a total value of $132,500,000.00. Following the sale, the director now directly owns 26,507,990 shares in the company, valued at approximately $1,756,154,337.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Ronald M. Shaich sold 1,500,000 shares of the stock in a transaction dated 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 completion of the transaction, 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. Insiders sold 3,547,239 shares of company stock valued at $221,525,951 in the last 90 days.

Institutional Investors Weigh In On CAVA Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC bought a new stake in shares of CAVA Group in the 3rd quarter worth about $26,000. Montag A & Associates Inc. bought a new stake in CAVA Group in the fourth quarter worth about $26,000. PNC Financial Services Group Inc. boosted its position in shares of CAVA Group by 190.0% during the third quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock valued at $27,000 after buying an additional 570 shares during the period. Clearstead Advisors LLC bought a new position in shares of CAVA Group during the third quarter valued at approximately $31,000. Finally, CWM LLC grew its stake in shares of CAVA Group by 101.2% during the first quarter. CWM LLC now owns 505 shares of the company’s stock valued at $35,000 after buying an additional 254 shares during the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

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.