CAVA Group (NYSE:CAVA) Given New $147.00 Price Target at Loop Capital

CAVA Group (NYSE:CAVA) had its target price lifted by Loop Capital from $122.00 to $147.00 in a research note published on Thursday morning,Benzinga reports. Loop Capital currently has a hold rating on the stock.

CAVA has been the subject of a number of other reports. JPMorgan Chase & Co. lifted their price target on shares of CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday. Argus boosted their target price on shares of CAVA Group from $104.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Wedbush boosted their price objective on shares of CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday. Barclays upped their price target on shares of CAVA Group from $113.00 to $142.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, TD Cowen upped their price target on shares of CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday. 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, CAVA Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.71.

CAVA Group Price Performance

Shares of CAVA stock traded up $1.79 during trading hours on Thursday, reaching $140.13. The company had a trading volume of 2,572,624 shares, compared to its average volume of 2,757,214. The firm has a market cap of $16.02 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. The company has a 50 day moving average of $130.75 and a 200 day moving average of $103.50.

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

Insider Buying and Selling

In other news, CFO Tricia K. Tolivar sold 5,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.64, for a total transaction of $628,200.00. Following the sale, the chief financial officer now owns 292,600 shares of the company’s stock, valued at approximately $36,762,264. This represents a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Theodoros Xenohristos sold 98,490 shares of the company’s 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 sale, the director now owns 424,846 shares in the company, valued at $53,432,881.42. The trade was a 18.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 304,994 shares of company stock worth $38,310,084 in the last three months. Corporate insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On CAVA Group

Several hedge funds have recently added to or reduced their stakes in CAVA. Capital Research Global Investors lifted its holdings in shares of CAVA Group by 21.6% during the first quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock worth $372,059,000 after purchasing an additional 942,054 shares during the period. Vanguard Group Inc. raised its stake in shares of CAVA Group by 215.7% during the 1st quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock worth $346,330,000 after buying an additional 3,377,840 shares during the last quarter. FMR LLC raised its stake in shares of CAVA Group by 0.9% during the 3rd quarter. FMR LLC now owns 3,485,033 shares of the company’s stock worth $431,621,000 after buying an additional 29,668 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of CAVA Group by 9.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,060,029 shares of the company’s stock worth $98,318,000 after buying an additional 93,635 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in CAVA Group by 102.5% during the 2nd 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 in 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.