TD Cowen Forecasts Strong Price Appreciation for CAVA Group (NYSE:CAVA) Stock

CAVA Group (NYSE:CAVA) had its target price hoisted by TD Cowen from $130.00 to $150.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts have also recently commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of CAVA Group from $77.00 to $90.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. TD Securities raised their price target on CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Barclays upped their price objective on CAVA Group from $95.00 to $113.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. UBS Group assumed coverage on shares of CAVA Group in a research note on Friday, September 27th. They issued a “neutral” rating and a $135.00 target price for the company. Finally, Stifel Nicolaus upped their price target on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $143.71.

CAVA Group Price Performance

CAVA stock opened at $141.38 on Wednesday. The stock has a market capitalization of $16.16 billion, a P/E ratio of 307.35 and a beta of 3.23. CAVA Group has a fifty-two week low of $31.47 and a fifty-two week high of $172.43. The business has a 50-day moving average of $131.69 and a 200-day moving average of $104.46.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.04. The company had revenue of $243.82 million during the quarter, compared to analysts’ expectations of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.23%. The business’s quarterly revenue was up 38.9% on a year-over-year basis. During the same period last year, the business earned $0.06 EPS. Equities analysts expect that CAVA Group will post 0.46 EPS for the current year.

Insider Activity

In related news, Director Theodoros Xenohristos sold 98,490 shares of the company’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 approximately $53,432,881.42. This represents a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brett Schulman sold 201,504 shares of CAVA Group stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the completion of the sale, the chief executive officer now owns 702,590 shares of the company’s stock, valued at $88,196,122.70. This trade represents a 22.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 304,994 shares of company stock valued at $38,310,084. 12.10% of the stock is owned by insiders.

Institutional Investors Weigh In On CAVA Group

A number of large investors have recently added to or reduced their stakes in the stock. SpiderRock Advisors LLC lifted its position in shares of CAVA Group by 8.9% during the 3rd quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock valued at $59,364,000 after acquiring an additional 39,319 shares during the period. Xponance Inc. raised its stake in CAVA Group by 95.2% in the second quarter. Xponance Inc. now owns 9,846 shares of the company’s stock valued at $913,000 after purchasing an additional 4,803 shares in the last quarter. PFG Investments LLC lifted its position in CAVA Group by 36.8% during the third quarter. PFG Investments LLC now owns 15,907 shares of the company’s stock worth $1,970,000 after purchasing an additional 4,275 shares during the period. Intech Investment Management LLC acquired a new stake in CAVA Group during the second quarter worth about $1,728,000. Finally, Aigen Investment Management LP bought a new position in CAVA Group in the 3rd quarter valued at about $1,293,000. Institutional investors and hedge funds own 73.15% of the company’s stock.

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.