CAVA Group (NYSE:CAVA) PT Raised to $130.00 at TD Cowen

CAVA Group (NYSE:CAVA) had its price target lifted by equities researchers at TD Cowen from $115.00 to $130.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price objective would indicate a potential upside of 2.00% from the company’s previous close.

CAVA has been the subject of several other research reports. JPMorgan Chase & Co. upped their price target on shares of CAVA Group from $77.00 to $90.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Piper Sandler downgraded CAVA Group from an “overweight” rating to a “neutral” rating and raised their target price for the company from $63.00 to $92.00 in a research report on Thursday, May 30th. Robert W. Baird lifted their price target on CAVA Group from $105.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Loop Capital increased their price objective on CAVA Group from $80.00 to $122.00 and gave the company a “hold” rating in a research note on Monday, August 26th. Finally, Citigroup raised their price objective on CAVA Group from $93.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $114.15.

CAVA Group Trading Down 0.6 %

Shares of NYSE:CAVA opened at $127.45 on Monday. CAVA Group has a 12-month low of $29.05 and a 12-month high of $131.82. The business has a 50 day moving average of $102.46 and a two-hundred day moving average of $86.28. The company has a market capitalization of $14.53 billion, a PE ratio of 310.85 and a beta of 3.34.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Thursday, August 22nd. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. The company had revenue of $233.50 million during the quarter, compared to analysts’ expectations of $219.47 million. During the same quarter in the previous year, the company earned $0.21 earnings per share. The firm’s revenue for the quarter was up 35.1% on a year-over-year basis. Equities research analysts predict that CAVA Group will post 0.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CAVA Group news, CEO Brett Schulman sold 201,504 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.53, for a total value of $25,294,797.12. Following the completion of the sale, the chief executive officer now owns 702,590 shares in the company, valued at $88,196,122.70. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Theodoros Xenohristos sold 98,490 shares of the business’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 value of $12,387,087.30. Following the transaction, the director now owns 424,846 shares of the company’s stock, valued at $53,432,881.42. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brett Schulman sold 201,504 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.53, for a total value of $25,294,797.12. Following the sale, the chief executive officer now directly owns 702,590 shares of the company’s stock, valued at $88,196,122.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 310,943 shares of company stock valued at $38,872,086.

Institutional Investors Weigh In On CAVA Group

Hedge funds have recently added to or reduced their stakes in the company. Jamison Private Wealth Management Inc. acquired a new stake in CAVA Group in the second quarter valued at $28,000. Nemes Rush Group LLC purchased a new stake in CAVA Group during the second quarter worth about $28,000. CWM LLC boosted its holdings in CAVA Group by 101.2% during the first quarter. CWM LLC now owns 505 shares of the company’s stock worth $35,000 after buying an additional 254 shares in the last quarter. Mark Sheptoff Financial Planning LLC acquired a new position in CAVA Group during the second quarter worth about $36,000. Finally, Headlands Technologies LLC purchased a new position in CAVA Group in the second quarter valued at about $37,000. Institutional investors and hedge funds 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.