Piper Sandler Issues Positive Forecast for CAVA Group (NYSE:CAVA) Stock Price

CAVA Group (NYSE:CAVA) had its price objective boosted by research analysts at Piper Sandler from $100.00 to $142.00 in a report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 1.61% from the company’s current price.

CAVA has been the topic of several other research reports. Stifel Nicolaus raised their price objective on CAVA Group from $118.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday. TD Cowen raised their price objective on CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday. Morgan Stanley raised their price objective on CAVA Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Thursday. JPMorgan Chase & Co. increased their target price on CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Barclays lifted their price target on CAVA Group from $113.00 to $142.00 and gave the stock an “equal weight” rating in a report on Wednesday. Eight equities research 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.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $143.71.

CAVA Group Price Performance

Shares of CAVA stock traded up $1.41 during trading hours on Friday, reaching $139.75. The company had a trading volume of 1,654,007 shares, compared to its average volume of 2,753,076. The company has a 50 day moving average of $130.75 and a 200 day moving average of $103.50. The firm has a market cap of $15.98 billion, a price-to-earnings ratio of 303.80 and a beta of 3.23. CAVA Group has a 1-year low of $31.47 and a 1-year high of $172.43.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. The company had revenue of $243.82 million for the quarter, compared to the consensus estimate of $233.05 million. CAVA Group had a return on equity of 9.23% and a net margin of 5.88%. The firm’s quarterly revenue was up 38.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.06 EPS. As a group, sell-side analysts forecast that CAVA Group will post 0.46 EPS for the current fiscal year.

Insider Activity at CAVA Group

In related news, CEO Brett Schulman sold 201,504 shares of the business’s stock in a transaction 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 owns 702,590 shares of the company’s stock, valued at $88,196,122.70. The trade was a 22.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Theodoros Xenohristos sold 98,490 shares of the business’s stock in a transaction 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 owns 424,846 shares in the company, valued at approximately $53,432,881.42. The trade was a 18.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 304,994 shares of company stock valued at $38,310,084 over the last three months. 12.10% of the stock is owned by insiders.

Hedge Funds Weigh In On CAVA Group

Several institutional investors have recently made changes to their positions in the stock. Jamison Private Wealth Management Inc. acquired a new stake in shares of CAVA Group in the 2nd quarter worth about $28,000. Nemes Rush Group LLC bought a new position in shares of CAVA Group during the 2nd quarter valued at approximately $28,000. GAMMA Investing LLC lifted its stake in shares of CAVA Group by 68.3% during 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. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of CAVA Group during the 2nd quarter valued at approximately $36,000. Finally, Headlands Technologies LLC purchased a new stake in CAVA Group in the 2nd quarter worth approximately $37,000. Institutional investors and hedge funds 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.