CAVA Group (NYSE:CAVA) Reaches New 12-Month High – Still a Buy?

CAVA Group, Inc. (NYSE:CAVA) shares hit a new 52-week high on Monday . The company traded as high as $134.54 and last traded at $134.54, with a volume of 5869 shares. The stock had previously closed at $133.65.

Analysts Set New Price Targets

A number of analysts have commented on the stock. TD Cowen upped their price objective on shares of CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Wedbush upped their target price on CAVA Group from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Robert W. Baird increased their price objective on CAVA Group from $105.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Barclays upped their price objective on shares of CAVA Group from $72.00 to $95.00 and gave the stock an “equal weight” rating in a report on Friday, August 23rd. Finally, Morgan Stanley downgraded CAVA Group from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $90.00 to $110.00 in a research report on Thursday, August 29th. 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $115.64.

CAVA Group Trading Up 0.6 %

The stock has a market cap of $15.36 billion, a P/E ratio of 361.22 and a beta of 3.33. The stock has a 50 day simple moving average of $114.42 and a 200 day simple moving average of $91.71.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Thursday, August 22nd. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $219.47 million. During the same period in the previous year, the firm posted $0.21 EPS. The firm’s revenue was up 35.1% on a year-over-year basis. Equities analysts anticipate that CAVA Group, Inc. will post 0.43 earnings per share for the current year.

Insider Activity

In related news, CEO Brett Schulman sold 201,504 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.53, for a total value of $25,294,797.12. Following the transaction, the chief executive officer now directly owns 702,590 shares in the company, valued at $88,196,122.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 sale, 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brett Schulman sold 201,504 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 702,590 shares in the company, valued at approximately $88,196,122.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 304,994 shares of company stock valued at $38,310,084. 12.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CAVA Group

Several large investors have recently modified their holdings of CAVA. Creative Planning grew its holdings in shares of CAVA Group by 22.6% during the third quarter. Creative Planning now owns 6,185 shares of the company’s stock worth $766,000 after purchasing an additional 1,139 shares in the last quarter. ORG Partners LLC bought a new position in shares of CAVA Group in the 3rd quarter worth $93,000. CWM LLC lifted its holdings in shares of CAVA Group by 220.4% during the 3rd quarter. CWM LLC now owns 1,852 shares of the company’s stock worth $229,000 after acquiring an additional 1,274 shares during the last quarter. Marion Wealth Management purchased a new position in CAVA Group in the third quarter worth $211,000. Finally, Cypress Financial Planning LLC purchased a new position in shares of CAVA Group in the 3rd quarter worth about $223,000. 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.