CAVA Group (NYSE:CAVA) Shares Gap Up – What’s Next?

CAVA Group, Inc. (NYSE:CAVA)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $86.67, but opened at $89.63. CAVA Group shares last traded at $89.94, with a volume of 1,348,422 shares traded.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. William Blair reissued an “outperform” rating on shares of CAVA Group in a research note on Wednesday, February 26th. Piper Sandler upgraded shares of CAVA Group from a “neutral” rating to an “overweight” rating and dropped their price objective for the stock from $142.00 to $115.00 in a report on Friday, February 28th. TD Securities reduced their target price on shares of CAVA Group from $150.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Loop Capital cut their price target on CAVA Group from $147.00 to $100.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Finally, JPMorgan Chase & Co. upgraded CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 price objective for the company in a report on Thursday, March 20th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, CAVA Group currently has an average rating of “Moderate Buy” and an average price target of $131.47.

CAVA Group Trading Down 3.0 %

The stock has a market capitalization of $9.91 billion, a price-to-earnings ratio of 186.41 and a beta of 3.58. The company’s 50-day simple moving average is $108.04 and its 200-day simple moving average is $121.93.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The company had revenue of $227.40 million for the quarter, compared to the consensus estimate of $223.34 million. On average, equities research analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CAVA Group news, CFO Tricia K. Tolivar sold 2,086 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total transaction of $248,609.48. Following the transaction, the chief financial officer now directly owns 235,592 shares in the company, valued at approximately $28,077,854.56. This trade represents a 0.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kenneth Robert Bertram sold 678 shares of CAVA Group stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $84,336.42. Following the transaction, the insider now directly owns 57,312 shares in the company, valued at approximately $7,129,039.68. This represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,235 shares of company stock worth $3,514,101. Corporate insiders own 12.10% of the company’s stock.

Institutional Trading of CAVA Group

Large investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC raised its holdings in shares of CAVA Group by 36,658.7% in the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock worth $277,683,000 after purchasing an additional 2,455,035 shares during the period. Vanguard Group Inc. increased its holdings in CAVA Group by 20.4% during the 4th quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company’s stock worth $903,709,000 after acquiring an additional 1,357,187 shares during the period. Man Group plc boosted its holdings in CAVA Group by 563.7% in the 4th quarter. Man Group plc now owns 935,075 shares of the company’s stock valued at $105,476,000 after purchasing an additional 794,187 shares during the period. Geode Capital Management LLC raised its position in shares of CAVA Group by 121.0% in the third quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock worth $151,492,000 after buying an additional 669,599 shares in the last quarter. Finally, Barclays PLC increased its stake in CAVA Group by 116.7% in the 4th quarter. Barclays PLC now owns 84,755 shares of the company’s stock worth $9,560,000 after acquiring an additional 591,866 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

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.