CAVA Group (NYSE:CAVA) Trading Up 0.7% Following Analyst Upgrade

CAVA Group, Inc. (NYSE:CAVA)’s share price was up 0.7% during trading on Monday after TD Securities raised their price target on the stock from $115.00 to $130.00. TD Securities currently has a buy rating on the stock. CAVA Group traded as high as $131.82 and last traded at $129.70. Approximately 968,308 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 2,821,556 shares. The stock had previously closed at $128.79.

Other equities analysts also recently issued reports about the stock. Citigroup boosted their target price on shares of CAVA Group from $93.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Morgan Stanley downgraded shares of CAVA Group from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $90.00 to $110.00 in a report on Thursday, August 29th. Piper Sandler downgraded shares of CAVA Group from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $63.00 to $92.00 in a report on Thursday, May 30th. Wedbush upped their price objective on shares of CAVA Group from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Finally, Stifel Nicolaus upped their price objective on shares of CAVA Group from $90.00 to $110.00 and gave the company a “buy” rating in a report on Monday, August 19th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $114.15.

Insider Activity at CAVA Group

In other CAVA Group news, CFO Tricia K. Tolivar sold 5,949 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $94.47, for a total value of $562,002.03. Following the sale, the chief financial officer now owns 297,600 shares in the company, valued at approximately $28,114,272. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Theodoros Xenohristos sold 98,490 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the transaction, the director now owns 424,846 shares in the company, valued at approximately $53,432,881.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Tricia K. Tolivar sold 5,949 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $94.47, for a total value of $562,002.03. Following the transaction, the chief financial officer now owns 297,600 shares in the company, valued at approximately $28,114,272. The disclosure for this sale can be found here. Insiders have sold a total of 310,943 shares of company stock worth $38,872,086 over the last quarter.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CAVA. Vanguard Group Inc. lifted its position in shares of CAVA Group by 215.7% during the 1st quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock valued at $346,330,000 after buying an additional 3,377,840 shares in the last quarter. Capital Research Global Investors raised its stake in CAVA Group by 249.5% in the 4th quarter. Capital Research Global Investors now owns 4,369,281 shares of the company’s stock valued at $187,792,000 after purchasing an additional 3,119,281 shares during the last quarter. 1832 Asset Management L.P. raised its stake in CAVA Group by 79.5% in the 4th quarter. 1832 Asset Management L.P. now owns 2,248,400 shares of the company’s stock valued at $96,636,000 after purchasing an additional 995,800 shares during the last quarter. Artemis Investment Management LLP acquired a new position in CAVA Group in the 1st quarter valued at $38,225,000. Finally, Lord Abbett & CO. LLC raised its stake in CAVA Group by 55.9% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,373,749 shares of the company’s stock valued at $96,231,000 after purchasing an additional 492,667 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Stock Performance

The company has a 50 day moving average of $102.46 and a 200 day moving average of $86.28. The stock has a market capitalization of $14.53 billion, a price-to-earnings ratio of 310.85 and a beta of 3.34.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Thursday, August 22nd. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.13 by $0.04. CAVA Group had a return on equity of 7.37% and a net margin of 5.04%. The firm had revenue of $233.50 million during the quarter, compared to the consensus estimate of $219.47 million. During the same period in the prior year, the company earned $0.21 EPS. The firm’s revenue was up 35.1% compared to the same quarter last year. On average, equities analysts predict that CAVA Group, Inc. will post 0.43 EPS for the current fiscal year.

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.