CAVA Group (NYSE:CAVA) Earns Neutral Rating from Analysts at UBS Group

Analysts at UBS Group started coverage on shares of CAVA Group (NYSE:CAVA) in a research note issued on Friday, Marketbeat Ratings reports. The firm set a “neutral” rating and a $135.00 price target on the stock. UBS Group’s price objective suggests a potential upside of 9.08% from the company’s previous close.

A number of other research firms have also recently commented on CAVA. Loop Capital upped their price objective on CAVA Group from $80.00 to $122.00 and gave the company a “hold” rating in a research report on Monday, August 26th. Argus upped their target price on shares of CAVA Group from $104.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. TD Securities upped their price target on shares of CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. boosted their price objective on shares of CAVA Group from $77.00 to $90.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Finally, Barclays increased their price target on CAVA Group from $72.00 to $95.00 and gave the stock an “equal weight” rating in a report on Friday, August 23rd. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CAVA Group currently has an average rating of “Moderate Buy” and a consensus price target of $115.64.

CAVA Group Stock Down 2.6 %

CAVA stock opened at $123.76 on Friday. The business has a 50 day moving average of $105.19 and a 200 day moving average of $87.27. CAVA Group has a twelve month low of $29.05 and a twelve month high of $131.82. The firm has a market cap of $14.15 billion, a PE ratio of 301.86 and a beta of 3.34.

CAVA Group (NYSE:CAVA) last issued its earnings results 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 for the quarter, compared to the consensus estimate of $219.47 million. During the same quarter in the prior year, the firm posted $0.21 earnings per share. The business’s revenue was up 35.1% on a year-over-year basis. On average, research analysts expect that CAVA Group will post 0.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Tricia K. Tolivar sold 5,949 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $94.47, for a total value of $562,002.03. Following the transaction, the chief financial officer now directly owns 297,600 shares of the company’s stock, valued at $28,114,272. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Tricia K. Tolivar sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.64, for a total value of $628,200.00. Following the completion of the transaction, the chief financial officer now owns 292,600 shares of the company’s stock, valued at $36,762,264. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Tricia K. Tolivar sold 5,949 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $94.47, for a total value of $562,002.03. Following the completion of the sale, the chief financial officer now owns 297,600 shares in the company, valued at $28,114,272. The disclosure for this sale can be found here. Insiders have sold a total of 310,943 shares of company stock valued at $38,872,086 in the last 90 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in CAVA Group in the second quarter valued at approximately $918,000. Sanctuary Advisors LLC purchased a new position in shares of CAVA Group in the 2nd quarter valued at $1,539,000. Cetera Investment Advisers raised its stake in CAVA Group by 12.3% during the 2nd quarter. Cetera Investment Advisers now owns 39,344 shares of the company’s stock worth $3,649,000 after acquiring an additional 4,295 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in CAVA Group in the second quarter valued at $368,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in CAVA Group by 98.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 875 shares of the company’s stock valued at $81,000 after acquiring an additional 433 shares in the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

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.