CAVA Group (NYSE:CAVA) PT Raised to $74.00 at Wedbush

CAVA Group (NYSE:CAVA) had its price target lifted by Wedbush from $65.00 to $74.00 in a report published on Tuesday, Benzinga reports. Wedbush currently has an outperform rating on the stock.

CAVA has been the subject of a number of other research reports. Morgan Stanley lifted their target price on shares of CAVA Group from $62.00 to $68.00 and gave the stock an overweight rating in a research report on Friday, April 12th. JPMorgan Chase & Co. lifted their target price on shares of CAVA Group from $50.00 to $64.00 and gave the stock an overweight rating in a research report on Tuesday, March 19th. Barclays began coverage on shares of CAVA Group in a research report on Monday. They issued an equal weight rating and a $58.00 target price for the company. William Blair reaffirmed an outperform rating on shares of CAVA Group in a research report on Tuesday, February 27th. Finally, Argus raised shares of CAVA Group from a hold rating to a buy rating and set a $70.00 target price for the company in a research report on Wednesday, April 10th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, CAVA Group presently has an average rating of Moderate Buy and a consensus price target of $60.42.

CAVA Group Price Performance

Shares of CAVA opened at $62.83 on Tuesday. The firm has a 50 day moving average of $60.49 and a 200 day moving average of $45.72. CAVA Group has a twelve month low of $29.05 and a twelve month high of $71.60.

CAVA Group (NYSE:CAVA) last posted its earnings results on Monday, February 26th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. CAVA Group had a net margin of 1.82% and a return on equity of 4.28%. The business had revenue of $175.50 million during the quarter, compared to the consensus estimate of $240.03 million. The company’s revenue for the quarter was up 52.6% on a year-over-year basis. On average, equities research analysts predict that CAVA Group will post 0.24 EPS for the current fiscal year.

Insider Transactions at CAVA Group

In related news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $57.20, for a total value of $85,800,000.00. Following the completion of the transaction, the insider now owns 4,457,634 shares of the company’s stock, valued at approximately $254,976,664.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $57.20, for a total value of $85,800,000.00. Following the completion of the transaction, the insider now owns 4,457,634 shares of the company’s stock, valued at approximately $254,976,664.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Theodoros Xenohristos sold 47,239 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $68.29, for a total transaction of $3,225,951.31. Following the completion of the transaction, the director now directly owns 526,521 shares of the company’s stock, valued at approximately $35,956,119.09. The disclosure for this sale can be found here. Insiders have sold 3,547,239 shares of company stock worth $221,525,951 in the last 90 days.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CAVA. Headlands Technologies LLC bought a new position in CAVA Group in the 3rd quarter worth $26,000. Montag A & Associates Inc. bought a new position in CAVA Group in the 4th quarter worth $26,000. PNC Financial Services Group Inc. boosted its holdings in CAVA Group by 190.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock worth $27,000 after buying an additional 570 shares during the period. Clearstead Advisors LLC bought a new position in CAVA Group in the 3rd quarter worth $31,000. Finally, CWM LLC boosted its holdings in shares of CAVA Group by 101.2% during the 1st quarter. CWM LLC now owns 505 shares of the company’s stock valued at $35,000 after purchasing an additional 254 shares during the last quarter. Institutional investors own 73.15% of the company’s stock.

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.