CAVA Group (NYSE:CAVA) Raised to “Outperform” at Sanford C. Bernstein

CAVA Group (NYSE:CAVA) was upgraded by Sanford C. Bernstein from a “market perform” rating to an “outperform” rating in a note issued to investors on Wednesday, MarketBeat reports. The firm presently has a $115.00 price target on the stock. Sanford C. Bernstein’s target price indicates a potential upside of 26.40% from the stock’s previous close.

CAVA has been the topic of several other reports. Robert W. Baird set a $105.00 price objective on CAVA Group and gave the stock an “outperform” rating in a research note on Monday, April 7th. UBS Group decreased their price target on shares of CAVA Group from $160.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Citigroup dropped their price objective 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. JPMorgan Chase & Co. upgraded CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 target price for the company in a research note on Thursday, March 20th. Finally, Wedbush reiterated an “outperform” rating and set a $150.00 price target on shares of CAVA Group in a research report on Wednesday, February 26th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $124.19.

CAVA Group Stock Performance

Shares of CAVA Group stock opened at $90.98 on Wednesday. CAVA Group has a 1 year low of $59.02 and a 1 year high of $172.43. The firm’s 50-day simple moving average is $88.61 and its 200-day simple moving average is $116.28. The firm has a market cap of $10.52 billion, a PE ratio of 197.78 and a beta of 3.33.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data 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). The firm had revenue of $227.40 million for the quarter, compared to analyst estimates of $223.34 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. On average, equities analysts predict that CAVA Group will post 0.5 earnings per share for the current year.

Insider Activity at CAVA Group

In other news, insider Kenneth Robert Bertram sold 678 shares of CAVA Group stock in a transaction on Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $84,336.42. Following the transaction, the insider now directly owns 57,312 shares in the company, valued at approximately $7,129,039.68. This trade represents a 1.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Adam David Phillips sold 615 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $76,499.85. Following the completion of the sale, the chief accounting officer now directly owns 10,884 shares in the company, valued at $1,353,860.76. This represents a 5.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,734 shares of company stock worth $713,252 over the last quarter. 12.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CAVA Group

Large investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its stake in CAVA Group by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 527,868 shares of the company’s stock valued at $59,544,000 after purchasing an additional 11,776 shares during the last quarter. Entropy Technologies LP bought a new position in shares of CAVA Group in the fourth quarter valued at $2,097,000. Empowered Funds LLC acquired a new stake in shares of CAVA Group during the 4th quarter valued at $5,007,000. Legacy Capital Wealth Partners LLC boosted its stake in shares of CAVA Group by 71.9% during the 4th quarter. Legacy Capital Wealth Partners LLC now owns 13,658 shares of the company’s stock worth $1,541,000 after acquiring an additional 5,712 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of CAVA Group by 36,658.7% in 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 during the last quarter. 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.