Robert W. Baird Issues Positive Forecast for CAVA Group (NYSE:CAVA) Stock Price

CAVA Group (NYSE:CAVA) had its target price lifted by equities research analysts at Robert W. Baird from $125.00 to $148.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 12.52% from the stock’s current price.

Several other brokerages have also commented on CAVA. UBS Group began coverage on CAVA Group in a research report on Friday, September 27th. They set a “neutral” rating and a $135.00 target price on the stock. Loop Capital boosted their target price on shares of CAVA Group from $80.00 to $122.00 and gave the company a “hold” rating in a research report on Monday, August 26th. Morgan Stanley cut shares of CAVA Group from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $90.00 to $110.00 in a report on Thursday, August 29th. 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, Jefferies Financial Group raised their target price on CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $120.36.

CAVA Group Price Performance

CAVA Group stock opened at $131.53 on Monday. The stock’s 50 day moving average is $126.65 and its 200 day moving average is $99.32. CAVA Group has a one year low of $29.66 and a one year high of $141.25. The firm has a market cap of $15.04 billion, a P/E ratio of 355.49 and a beta of 3.23.

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

Insider Activity

In other CAVA Group news, Director Theodoros Xenohristos sold 98,490 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.77, for a total value of $12,387,087.30. Following the transaction, the director now owns 424,846 shares of the company’s stock, valued at approximately $53,432,881.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other CAVA Group news, Director Theodoros Xenohristos sold 98,490 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.77, for a total value of $12,387,087.30. Following the transaction, the director now directly owns 424,846 shares in the company, valued at $53,432,881.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brett Schulman sold 201,504 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the transaction, the chief executive officer now directly owns 702,590 shares of the company’s stock, valued at $88,196,122.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 304,994 shares of company stock valued at $38,310,084 over the last three months. Corporate insiders own 12.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Jamison Private Wealth Management Inc. purchased a new stake in CAVA Group in the 2nd quarter worth about $28,000. Nemes Rush Group LLC bought a new stake in shares of CAVA Group in the second quarter valued at approximately $28,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of CAVA Group during the 2nd quarter valued at approximately $36,000. Headlands Technologies LLC bought a new position in CAVA Group in the 2nd quarter worth approximately $37,000. Finally, GAMMA Investing LLC grew its stake in CAVA Group by 68.3% in the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock valued at $38,000 after buying an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

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.