CAVA Group (NYSE:CAVA) Price Target Raised to $110.00 at JPMorgan Chase & Co.

CAVA Group (NYSE:CAVA) had its price target lifted by JPMorgan Chase & Co. from $90.00 to $110.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts have also commented on the stock. Argus upped their price target on shares of CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Citigroup boosted their price target on shares of CAVA Group from $115.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Stifel Nicolaus raised their price objective 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. Jefferies Financial Group upped their target price on CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, UBS Group began coverage on CAVA Group in a research report on Friday, September 27th. They set a “neutral” rating and a $135.00 price target on the stock. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $136.57.

CAVA Group Price Performance

Shares of NYSE:CAVA opened at $147.31 on Wednesday. The company has a market capitalization of $16.84 billion, a PE ratio of 320.24 and a beta of 3.23. The business has a fifty day moving average price of $130.75 and a two-hundred day moving average price of $103.50. CAVA Group has a 1 year low of $31.41 and a 1 year high of $172.43.

CAVA Group (NYSE:CAVA) last posted its earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. The business had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.23%. CAVA Group’s revenue was up 38.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.06 EPS. Sell-side analysts anticipate that CAVA Group will post 0.44 earnings per share for the current year.

Insider Transactions at CAVA Group

In related news, CEO Brett Schulman sold 201,504 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.53, 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 $88,196,122.70. This trade represents 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 available at the SEC website. In other news, Director Theodoros Xenohristos sold 98,490 shares of the business’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 $53,432,881.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction, the chief executive officer now owns 702,590 shares in the company, valued at approximately $88,196,122.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 304,994 shares of company stock worth $38,310,084. Corporate insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of CAVA Group by 215.7% in the first quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock worth $346,330,000 after acquiring an additional 3,377,840 shares during the period. Capital Research Global Investors lifted its holdings in CAVA Group by 21.6% in the first quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock valued at $372,059,000 after acquiring an additional 942,054 shares during the period. Renaissance Technologies LLC boosted its position in CAVA Group by 102.5% in the second quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock worth $82,770,000 after purchasing an additional 451,800 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of CAVA Group by 262.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock valued at $63,918,000 after purchasing an additional 373,835 shares during the period. Finally, Eagle Asset Management Inc. increased its position in shares of CAVA Group by 233.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 398,991 shares of the company’s stock valued at $49,415,000 after purchasing an additional 279,306 shares during the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

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.