A number of other analysts have also weighed in on the stock. Piper Sandler increased their price objective on shares of CAVA Group from $45.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 16th. Stifel Nicolaus increased their price objective on shares of CAVA Group from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, August 16th. Morgan Stanley upgraded shares of CAVA Group from an “equal weight” rating to an “overweight” rating and cut their price objective for the stock from $45.00 to $41.00 in a research note on Wednesday, October 11th. Wedbush initiated coverage on shares of CAVA Group in a research note on Tuesday, October 10th. They issued a “neutral” rating and a $33.00 price objective on the stock. Finally, Robert W. Baird increased their price objective on shares of CAVA Group from $50.00 to $58.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 16th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.
CAVA Group Trading Up 1.5 %
CAVA Group (NYSE:CAVA – Get Free Report) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.07. The company had revenue of $175.55 million for the quarter, compared to analyst estimates of $171.49 million. The business’s revenue for the quarter was up 26.1% on a year-over-year basis.
Institutional Trading of CAVA Group
A number of hedge funds have recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new position in CAVA Group during the third quarter valued at $26,000. Glassman Wealth Services purchased a new position in CAVA Group during the second quarter valued at $28,000. Clearstead Advisors LLC purchased a new position in CAVA Group during the third quarter valued at $31,000. Victory Capital Management Inc. purchased a new position in CAVA Group during the second quarter valued at $40,000. Finally, Osaic Holdings Inc. purchased a new position in CAVA Group during the second quarter valued at $74,000. 61.83% of the stock is owned by hedge funds and other institutional investors.
CAVA Group Company Profile
CAVA Group, Inc owns and operates a chain of Mediterranean restaurants. The company offers salads, dips, spreads, toppings, and dressings. It sells its products through whole food markets and grocery stores. The company also provides online food ordering services. Cava Group, Inc was founded in 2006 and is based in Washington, District of Columbia.
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