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

CAVA Group, Inc. (NYSE:CAVA) shares reached a new 52-week high on Monday . The company traded as high as $136.96 and last traded at $136.50, with a volume of 92348 shares trading hands. The stock had previously closed at $135.34.

Analysts Set New Price Targets

Several equities analysts recently commented on CAVA shares. TD Securities upped their price objective on CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. UBS Group assumed coverage on CAVA Group in a research note on Friday, September 27th. They set a “neutral” rating and a $135.00 price target for the company. Robert W. Baird upped their price objective on shares of CAVA Group from $105.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Argus boosted their price objective on CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. 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 report on Monday, August 19th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $115.64.

CAVA Group Stock Up 0.5 %

The company has a fifty day moving average price of $119.49 and a 200-day moving average price of $94.20. The stock has a market capitalization of $15.51 billion, a P/E ratio of 330.10 and a beta of 3.33.

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

Insider Activity at CAVA Group

In other news, CEO Brett Schulman sold 201,504 shares of the business’s 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 sale, the chief executive officer now owns 702,590 shares in the company, valued at approximately $88,196,122.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other CAVA Group news, 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 approximately $88,196,122.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Theodoros Xenohristos sold 98,490 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was 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. This trade represents a 0.00 % 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 in the last ninety days. Corporate insiders own 12.10% of the company’s stock.

Institutional Trading of CAVA Group

A number of institutional investors have recently made changes to their positions in CAVA. GAMMA Investing LLC lifted its stake in shares of CAVA Group by 68.3% in the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock valued at $38,000 after purchasing an additional 125 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in CAVA Group by 0.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 39,154 shares of the company’s stock valued at $3,632,000 after buying an additional 184 shares during the period. CWM LLC lifted its position in shares of CAVA Group by 101.2% during the 1st quarter. CWM LLC now owns 505 shares of the company’s stock worth $35,000 after purchasing an additional 254 shares during the last quarter. Jaffetilchin Investment Partners LLC raised its stake in CAVA Group by 4.2% in the second quarter. Jaffetilchin Investment Partners LLC now owns 6,907 shares of the company’s stock valued at $641,000 after buying an additional 278 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. acquired a new stake in shares of CAVA Group during the 2nd quarter worth about $28,000. 73.15% of the stock is owned by institutional investors and hedge funds.

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.