CAVA Group (NYSE:CAVA) Now Covered by Analysts at Sanford C. Bernstein

Equities research analysts at Sanford C. Bernstein initiated coverage on shares of CAVA Group (NYSE:CAVA) in a report released on Wednesday,Briefing.com Automated Import reports. The brokerage set a “market perform” rating and a $145.00 price target on the stock. Sanford C. Bernstein’s price target would indicate a potential upside of 2.71% from the stock’s current price.

Other research analysts also recently issued research reports about the company. TD Cowen increased their price objective on CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Stifel Nicolaus raised their price objective on shares of CAVA Group from $118.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Piper Sandler upped their target price on shares of CAVA Group from $100.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Argus lifted their price target on shares of CAVA Group from $104.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Finally, Morgan Stanley upped their price objective on shares of CAVA Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $143.80.

CAVA Group Trading Up 2.9 %

NYSE:CAVA opened at $141.18 on Wednesday. CAVA Group has a 12 month low of $31.47 and a 12 month high of $172.43. The firm has a market cap of $16.18 billion, a P/E ratio of 306.90 and a beta of 3.23. The stock has a 50 day moving average of $132.03 and a two-hundred day moving average of $105.21.

CAVA Group (NYSE:CAVA) last posted its earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.04. The company had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. CAVA Group’s revenue was up 38.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.06 EPS. On average, research analysts forecast that CAVA Group will post 0.5 earnings per share for the current year.

Insider Transactions at CAVA Group

In other news, CFO Tricia K. Tolivar sold 5,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.64, for a total transaction of $628,200.00. Following the transaction, the chief financial officer now owns 292,600 shares of the company’s stock, valued at approximately $36,762,264. This trade represents a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brett Schulman sold 201,504 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 702,590 shares in the company, valued at approximately $88,196,122.70. This represents a 22.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 319,994 shares of company stock valued at $40,410,084. Corporate insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Capital Research Global Investors increased its stake in CAVA Group by 21.6% in the 1st quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock valued at $372,059,000 after buying an additional 942,054 shares during the period. Vanguard Group Inc. grew its stake in CAVA Group by 215.7% in the first quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock valued at $346,330,000 after purchasing an additional 3,377,840 shares in the last quarter. FMR LLC increased its position in CAVA Group by 0.9% in the 3rd quarter. FMR LLC now owns 3,485,033 shares of the company’s stock worth $431,621,000 after purchasing an additional 29,668 shares during the last quarter. Two Sigma Advisers LP raised its stake in shares of CAVA Group by 17.0% during the 3rd quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock worth $273,820,000 after purchasing an additional 321,800 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of CAVA Group by 33.3% during the 3rd quarter. State Street Corp now owns 1,267,333 shares of the company’s stock valued at $156,959,000 after buying an additional 316,514 shares during the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

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.