CAVA Group (NYSE:CAVA) Raised to “Overweight” at Piper Sandler

CAVA Group (NYSE:CAVA) was upgraded by equities research analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a research note issued on Friday,Briefing.com Automated Import reports. The brokerage currently has a $115.00 price target on the stock, down from their previous price target of $142.00. Piper Sandler’s price target suggests a potential upside of 27.75% from the company’s current price.

A number of other equities analysts have also issued reports on CAVA. Barclays lowered their price target on CAVA Group from $127.00 to $104.00 and set an “equal weight” rating on the stock in a report on Wednesday. Loop Capital lowered their target price on CAVA Group from $147.00 to $100.00 and set a “hold” rating on the stock in a research note on Thursday. Stifel Nicolaus upped their price target on CAVA Group from $118.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. lifted their price objective on shares of CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Finally, Morgan Stanley upped their price objective on shares of CAVA Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, CAVA Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.47.

CAVA Group Stock Down 9.0 %

NYSE:CAVA opened at $90.02 on Friday. CAVA Group has a 52-week low of $54.21 and a 52-week high of $172.43. The stock’s 50 day moving average price is $121.75 and its 200 day moving average price is $125.78. The company has a market capitalization of $10.31 billion, a PE ratio of 195.69 and a beta of 3.25.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The business had revenue of $227.40 million during the quarter, compared to analysts’ expectations of $223.34 million. As a group, sell-side analysts anticipate that CAVA Group will post 0.5 EPS for the current fiscal year.

Insider Activity at CAVA Group

In other CAVA Group news, insider Theodoros Xenohristos sold 851 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $101,422.18. Following the completion of the transaction, the insider now directly owns 358,995 shares in the company, valued at approximately $42,785,024.10. This trade represents a 0.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Adam David Phillips sold 615 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $76,499.85. Following the completion of the sale, the chief accounting officer now owns 10,884 shares in the company, valued at $1,353,860.76. This represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 651,784 shares of company stock valued at $96,522,922 in the last ninety days. Corporate insiders own 12.10% of the company’s stock.

Institutional Trading of CAVA Group

Large investors have recently made changes to their positions in the stock. Nwam LLC raised its stake in CAVA Group by 2.6% in the 3rd quarter. Nwam LLC now owns 3,368 shares of the company’s stock valued at $417,000 after purchasing an additional 85 shares during the last quarter. Utah Retirement Systems boosted its position in CAVA Group by 2.5% during the fourth quarter. Utah Retirement Systems now owns 4,100 shares of the company’s stock worth $462,000 after acquiring an additional 100 shares during the last quarter. Howard Financial Services LTD. grew its stake in CAVA Group by 1.8% in the 4th quarter. Howard Financial Services LTD. now owns 6,194 shares of the company’s stock worth $699,000 after acquiring an additional 109 shares during the period. CIBC Asset Management Inc raised its holdings in CAVA Group by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 3,287 shares of the company’s stock valued at $407,000 after acquiring an additional 110 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of CAVA Group by 6.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,916 shares of the company’s stock worth $237,000 after purchasing an additional 113 shares during the period. Institutional investors and hedge funds 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.