CAVA Group (NYSE:CAVA) PT Raised to $95.00

CAVA Group (NYSE:CAVA) had its price objective increased by TD Cowen from $90.00 to $95.00 in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also recently commented on CAVA. Citigroup raised their target price on CAVA Group from $60.00 to $81.00 and gave the company a neutral rating in a report on Tuesday, May 21st. Wedbush lifted their price objective on CAVA Group from $74.00 to $90.00 and gave the company an outperform rating in a research note on Wednesday, May 29th. Barclays lifted their price objective on CAVA Group from $58.00 to $72.00 and gave the company an equal weight rating in a research note on Thursday, May 30th. Robert W. Baird lifted their price objective on CAVA Group from $90.00 to $92.00 and gave the company an outperform rating in a research note on Wednesday, May 29th. Finally, Jefferies Financial Group lifted their price objective on CAVA Group from $72.00 to $94.00 and gave the company a buy rating in a research note on Wednesday, May 29th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $81.50.

CAVA Group Stock Performance

NYSE CAVA opened at $89.93 on Thursday. The business has a fifty day moving average price of $75.66 and a 200 day moving average price of $59.37. CAVA Group has a one year low of $29.05 and a one year high of $96.93. The company has a market cap of $10.25 billion and a P/E ratio of 219.35.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, May 28th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.08. The business had revenue of $259.01 million during the quarter, compared to the consensus estimate of $246.02 million. CAVA Group had a return on equity of 5.18% and a net margin of 3.75%. CAVA Group’s revenue for the quarter was up 27.5% compared to the same quarter last year. As a group, sell-side analysts predict that CAVA Group will post 0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other CAVA Group news, Director Ronald M. Shaich sold 1,231,979 shares of CAVA Group stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $87.25, for a total transaction of $107,490,167.75. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at $436,250. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Ronald M. Shaich sold 1,231,979 shares of CAVA Group stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $87.25, for a total value of $107,490,167.75. Following the sale, the director now directly owns 5,000 shares in the company, valued at $436,250. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director International S.C.A. Artal sold 2,000,000 shares of CAVA Group stock in a transaction that occurred on 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 completion of the sale, the director now owns 26,507,990 shares in the company, valued at $1,756,154,337.50. The disclosure for this sale can be found here. Insiders have sold a total of 3,279,218 shares of company stock valued at $243,216,119 over the last quarter.

Institutional Trading of CAVA Group

A number of institutional investors have recently bought and sold shares of the company. Cetera Advisors LLC purchased a new stake in CAVA Group during the first quarter worth $301,000. Cetera Investment Advisers purchased a new stake in CAVA Group during the first quarter worth $2,455,000. National Wealth Management Group LLC purchased a new stake in CAVA Group during the first quarter worth $258,000. Jaffetilchin Investment Partners LLC boosted its position in CAVA Group by 38.8% during the first quarter. Jaffetilchin Investment Partners LLC now owns 6,629 shares of the company’s stock worth $464,000 after purchasing an additional 1,854 shares in the last quarter. Finally, Comerica Bank boosted its position in CAVA Group by 14.9% during the first quarter. Comerica Bank now owns 12,105 shares of the company’s stock worth $848,000 after purchasing an additional 1,567 shares in the last quarter. 73.15% of the stock is currently owned by hedge funds and other 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.