CAVA Group (NYSE:CAVA) Price Target Raised to $128.00

CAVA Group (NYSE:CAVA) had its price objective increased by Argus from $104.00 to $128.00 in a research note published on Wednesday morning, Benzinga reports. Argus currently has a buy rating on the stock.

A number of other equities research analysts have also weighed in on CAVA. JPMorgan Chase & Co. raised their price objective on shares of CAVA Group from $77.00 to $90.00 and gave the company a neutral rating in a report on Monday, August 26th. Stifel Nicolaus raised their price target on CAVA Group from $90.00 to $110.00 and gave the company a buy rating in a research note on Monday, August 19th. Robert W. Baird upped their price objective on CAVA Group from $105.00 to $125.00 and gave the stock an outperform rating in a research report on Friday, August 23rd. TD Cowen raised their target price on CAVA Group from $95.00 to $115.00 and gave the stock a buy rating in a research report on Friday, August 23rd. Finally, Loop Capital upped their price target on CAVA Group from $80.00 to $122.00 and gave the company a hold rating in a report on Monday, August 26th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, CAVA Group has an average rating of Moderate Buy and an average price target of $111.58.

CAVA Group Price Performance

CAVA opened at $122.57 on Wednesday. The stock has a market capitalization of $14.01 billion, a price-to-earnings ratio of 298.96 and a beta of 3.34. The business has a fifty day moving average price of $97.16 and a 200 day moving average price of $82.66. CAVA Group has a 12 month low of $29.05 and a 12 month high of $128.18.

CAVA Group (NYSE:CAVA) last released its earnings results on Thursday, August 22nd. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. The firm had revenue of $233.50 million for the quarter, compared to analyst estimates of $219.47 million. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. The business’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 earnings per share. On average, research analysts anticipate that CAVA Group will post 0.43 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Brett Schulman sold 201,504 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.53, for a total value of $25,294,797.12. Following the completion of the sale, the chief executive officer now directly owns 702,590 shares of the company’s stock, valued at $88,196,122.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Brett Schulman sold 201,504 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.53, for a total value of $25,294,797.12. Following the transaction, the chief executive officer now owns 702,590 shares of the company’s stock, valued at $88,196,122.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kenneth Robert Bertram sold 5,250 shares of the stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $95.28, for a total value of $500,220.00. Following the sale, the insider now directly owns 67,005 shares of the company’s stock, valued at $6,384,236.40. The disclosure for this sale can be found here. Insiders sold a total of 427,165 shares of company stock worth $49,526,186 in the last 90 days.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Jamison Private Wealth Management Inc. purchased a new position in shares of CAVA Group during the 2nd quarter worth approximately $28,000. Nemes Rush Group LLC purchased a new position in CAVA Group in the second quarter worth $28,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of CAVA Group in the second quarter valued at about $36,000. Headlands Technologies LLC purchased a new stake in CAVA Group during the second quarter worth about $37,000. Finally, Mather Group LLC. purchased a new position in CAVA Group in the second quarter valued at about $45,000. 73.15% of the stock is 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.