CAVA Group (NYSE:CAVA) Reaches New 52-Week High – What’s Next?

CAVA Group, Inc. (NYSE:CAVA)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $141.25 and last traded at $140.37, with a volume of 1432466 shares traded. The stock had previously closed at $136.09.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. TD Securities lifted their target price on shares of CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Citigroup upped their price objective on CAVA Group from $115.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday. JPMorgan Chase & Co. raised their target price on CAVA Group from $77.00 to $90.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Argus upped their price target on CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Finally, Stifel Nicolaus lifted their price objective on CAVA Group from $90.00 to $110.00 and gave the company a “buy” rating in a report on Monday, August 19th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $118.71.

CAVA Group Stock Performance

The stock has a 50-day simple moving average of $125.20 and a 200 day simple moving average of $97.82. The stock has a market capitalization of $15.30 billion, a P/E ratio of 362.78 and a beta of 3.33.

CAVA Group (NYSE:CAVA) last posted 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. The business had revenue of $233.50 million for the quarter, compared to analysts’ expectations of $219.47 million. CAVA Group had a return on equity of 7.37% and a net margin of 5.04%. The firm’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.21 earnings per share. Equities analysts predict that CAVA Group, Inc. will post 0.43 earnings per share for the current year.

Insider Transactions at CAVA Group

In related news, CEO Brett Schulman sold 201,504 shares of the 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 transaction, the chief executive officer now directly owns 702,590 shares in the company, valued at $88,196,122.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Tricia K. Tolivar sold 5,000 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.64, for a total value of $628,200.00. Following the completion of the sale, the chief financial officer now directly owns 292,600 shares of the company’s stock, valued at $36,762,264. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Brett Schulman sold 201,504 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 702,590 shares in the company, valued at $88,196,122.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 304,994 shares of company stock worth $38,310,084 in the last quarter. 12.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On CAVA Group

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of CAVA Group by 215.7% in the 1st quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock valued at $346,330,000 after buying an additional 3,377,840 shares during the period. Capital Research Global Investors increased its holdings in shares of CAVA Group by 21.6% in the first quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock worth $372,059,000 after acquiring an additional 942,054 shares in the last quarter. Lord Abbett & CO. LLC raised its position in shares of CAVA Group by 55.9% during the first quarter. Lord Abbett & CO. LLC now owns 1,373,749 shares of the company’s stock worth $96,231,000 after purchasing an additional 492,667 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of CAVA Group by 102.5% during the 2nd quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock valued at $82,770,000 after purchasing an additional 451,800 shares in the last quarter. Finally, Driehaus Capital Management LLC grew its position in shares of CAVA Group by 51.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 732,603 shares of the company’s stock valued at $67,949,000 after purchasing an additional 250,110 shares during the period. 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.