Brokerages Set CAVA Group, Inc. (NYSE:CAVA) PT at $99.47

Shares of CAVA Group, Inc. (NYSE:CAVA) have been assigned a consensus rating of “Moderate Buy” from the nineteen brokerages that are covering the firm, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $99.4706.

A number of equities analysts have recently weighed in on the company. Cfra Research upgraded CAVA Group to a “strong-buy” rating in a research note on Thursday, August 14th. Stifel Nicolaus dropped their target price on CAVA Group from $175.00 to $125.00 and set a “buy” rating for the company in a report on Wednesday, June 18th. Sanford C. Bernstein set a $74.00 price target on shares of CAVA Group in a research note on Wednesday, August 13th. TD Securities reiterated a “buy” rating and issued a $120.00 price objective on shares of CAVA Group in a research note on Friday, May 16th. Finally, JPMorgan Chase & Co. cut their price objective on shares of CAVA Group from $115.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, June 25th.

Insiders Place Their Bets

In related news, insider Jennifer Somers sold 2,861 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $215,032.76. Following the sale, the insider owned 137,048 shares of the company’s stock, valued at $10,300,527.68. This represents a 2.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brett Schulman sold 31,856 shares of CAVA Group stock in a transaction on Monday, June 16th. The shares were sold at an average price of $75.16, for a total value of $2,394,296.96. Following the completion of the transaction, the chief executive officer directly owned 792,318 shares of the company’s stock, valued at $59,550,620.88. This represents a 3.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,360 shares of company stock valued at $3,634,738 in the last quarter. Company insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On CAVA Group

Hedge funds have recently bought and sold shares of the company. Envestnet Asset Management Inc. lifted its holdings in shares of CAVA Group by 20.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 10,871 shares of the company’s stock worth $1,226,000 after acquiring an additional 1,874 shares during the period. Dimensional Fund Advisors LP raised its position in CAVA Group by 43.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 239,561 shares of the company’s stock valued at $27,019,000 after purchasing an additional 72,288 shares in the last quarter. Stifel Financial Corp lifted its stake in CAVA Group by 17.0% during the fourth quarter. Stifel Financial Corp now owns 67,166 shares of the company’s stock worth $7,576,000 after purchasing an additional 9,771 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of CAVA Group in the 4th quarter valued at $2,047,000. Finally, Integrated Wealth Concepts LLC increased its stake in shares of CAVA Group by 4.5% in the 4th quarter. Integrated Wealth Concepts LLC now owns 6,678 shares of the company’s stock valued at $753,000 after purchasing an additional 288 shares during the last quarter. 73.15% of the stock is owned by institutional investors.

CAVA Group Stock Performance

NYSE CAVA opened at $67.64 on Friday. The stock has a market cap of $7.84 billion, a PE ratio of 56.84, a P/E/G ratio of 3.41 and a beta of 2.65. The firm has a 50-day moving average of $81.25 and a 200-day moving average of $86.52. CAVA Group has a 52-week low of $65.03 and a 52-week high of $172.43.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Tuesday, August 12th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.03. CAVA Group had a net margin of 12.98% and a return on equity of 9.83%. The firm had revenue of $280.62 million for the quarter, compared to analysts’ expectations of $285.65 million. During the same period in the prior year, the firm earned $0.17 EPS. The business’s revenue was up 20.2% on a year-over-year basis. As a group, analysts predict that CAVA Group will post 0.5 EPS for the current fiscal year.

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.