CAVA Group (NYSE:CAVA) Stock Price Up 1%

CAVA Group, Inc. (NYSE:CAVA)’s stock price traded up 1% during trading on Tuesday . The stock traded as high as $125.46 and last traded at $124.13. 683,205 shares traded hands during trading, a decline of 76% from the average session volume of 2,803,778 shares. The stock had previously closed at $122.85.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Jefferies Financial Group upped their price objective on CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Barclays increased their price target on shares of CAVA Group from $72.00 to $95.00 and gave the company an “equal weight” rating in a research report on Friday, August 23rd. Morgan Stanley downgraded CAVA Group from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $90.00 to $110.00 in a research note on Thursday, August 29th. Piper Sandler cut CAVA Group from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $63.00 to $92.00 in a report on Thursday, May 30th. Finally, Citigroup boosted their price target on CAVA Group from $93.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CAVA Group has a consensus rating of “Moderate Buy” and an average target price of $111.58.

CAVA Group Stock Down 0.8 %

The stock has a market cap of $13.89 billion, a price-to-earnings ratio of 302.76 and a beta of 3.34. The business’s 50 day simple moving average is $97.72 and its 200 day simple moving average is $83.47.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Thursday, August 22nd. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.04. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. The firm had revenue of $233.50 million during the quarter, compared to the consensus estimate of $219.47 million. During the same period last year, the business posted $0.21 earnings per share. The business’s revenue for the quarter was up 35.1% compared to the same quarter last year. Equities research analysts forecast that CAVA Group, Inc. will post 0.43 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Theodoros Xenohristos sold 90,000 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $91.01, for a total transaction of $8,190,900.00. Following the transaction, the director now directly owns 424,846 shares of the company’s stock, valued at $38,665,234.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Theodoros Xenohristos sold 90,000 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $91.01, for a total value of $8,190,900.00. Following the completion of the transaction, the director now owns 424,846 shares of the company’s stock, valued at $38,665,234.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Tricia K. Tolivar sold 5,949 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $94.47, for a total transaction of $562,002.03. Following the sale, the chief financial officer now directly owns 297,600 shares of the company’s stock, valued at approximately $28,114,272. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 400,943 shares of company stock valued at $47,062,986.

Institutional Investors Weigh In On CAVA Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in shares of CAVA Group by 0.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 39,154 shares of the company’s stock valued at $3,632,000 after acquiring an additional 184 shares during the last quarter. CWM LLC boosted its stake in shares of CAVA Group by 101.2% during the first quarter. CWM LLC now owns 505 shares of the company’s stock valued at $35,000 after purchasing an additional 254 shares in the last quarter. Jaffetilchin Investment Partners LLC grew its holdings in shares of CAVA Group by 4.2% during the second quarter. Jaffetilchin Investment Partners LLC now owns 6,907 shares of the company’s stock worth $641,000 after purchasing an additional 278 shares during the last quarter. Jamison Private Wealth Management Inc. acquired a new position in shares of CAVA Group in the second quarter valued at approximately $28,000. Finally, Nemes Rush Group LLC bought a new position in CAVA Group in the 2nd quarter valued at approximately $28,000. 73.15% of the stock is owned by 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.