TD Cowen Boosts CAVA Group (NYSE:CAVA) Price Target to $130.00

CAVA Group (NYSE:CAVA) had its target price boosted by TD Cowen from $115.00 to $130.00 in a research report released on Monday, Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also recently commented on CAVA. Barclays upped their target price on shares of CAVA Group from $72.00 to $95.00 and gave the company an equal weight rating in a research report on Friday, August 23rd. Argus increased their target price on CAVA Group from $104.00 to $128.00 and gave the company a buy rating in a research note on Wednesday, September 11th. Robert W. Baird boosted their target price on CAVA Group from $105.00 to $125.00 and gave the stock an outperform rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. increased their price target on shares of CAVA Group from $77.00 to $90.00 and gave the company a neutral rating in a research report on Monday, August 26th. Finally, Stifel Nicolaus boosted 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 equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $114.15.

CAVA Group Stock Down 0.5 %

CAVA stock opened at $126.82 on Monday. CAVA Group has a twelve month low of $29.05 and a twelve month high of $131.82. The company has a market cap of $14.50 billion, a P/E ratio of 309.32 and a beta of 3.34. The business has a fifty day moving average of $103.37 and a 200-day moving average of $86.56.

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

Insider Buying and Selling at CAVA Group

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

Hedge Funds Weigh In On CAVA Group

Institutional investors have recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of CAVA Group in the 2nd quarter valued at about $918,000. Sanctuary Advisors LLC acquired a new stake in CAVA Group in the 2nd quarter valued at about $1,539,000. Cetera Investment Advisers increased its position in CAVA Group by 12.3% during the second quarter. Cetera Investment Advisers now owns 39,344 shares of the company’s stock worth $3,649,000 after buying an additional 4,295 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in CAVA Group in the second quarter valued at approximately $368,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of CAVA Group by 98.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 875 shares of the company’s stock valued at $81,000 after buying an additional 433 shares during the last quarter. 73.15% of the stock is currently 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.