CAVA Group (NYSE:CAVA) Trading Up 8.2%

Shares of CAVA Group, Inc. (NYSE:CAVA) were up 8.2% on Friday . The company traded as high as $67.78 and last traded at $67.75. Approximately 2,550,256 shares traded hands during mid-day trading, an increase of 17% from the average daily volume of 2,185,310 shares. The stock had previously closed at $62.59.

Analysts Set New Price Targets

A number of analysts have weighed in on CAVA shares. Piper Sandler increased their target price on CAVA Group from $46.00 to $63.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. JPMorgan Chase & Co. increased their target price on CAVA Group from $50.00 to $64.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Morgan Stanley increased their target price on CAVA Group from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Robert W. Baird increased their target price on CAVA Group from $54.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. Finally, Wedbush increased their target price on CAVA Group from $65.00 to $74.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 16th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, CAVA Group has a consensus rating of “Moderate Buy” and an average target price of $60.42.

CAVA Group Stock Performance

The firm has a 50 day moving average price of $62.11 and a 200 day moving average price of $47.57.

CAVA Group (NYSE:CAVA) last posted its earnings results on Monday, February 26th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. CAVA Group had a return on equity of 4.28% and a net margin of 1.82%. The company had revenue of $175.50 million for the quarter, compared to analyst estimates of $240.03 million. The company’s revenue for the quarter was up 52.6% compared to the same quarter last year. As a group, analysts forecast that CAVA Group, Inc. will post 0.25 EPS for the current year.

Insider Buying and Selling at CAVA Group

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

Institutional Investors Weigh In On CAVA Group

Institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its holdings in CAVA Group by 190.0% in the third quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock worth $27,000 after acquiring an additional 570 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in shares of CAVA Group during the third quarter worth about $449,000. Brandywine Global Investment Management LLC acquired a new stake in shares of CAVA Group during the third quarter worth about $1,937,000. New York State Common Retirement Fund lifted its holdings in shares of CAVA Group by 172.5% during the third quarter. New York State Common Retirement Fund now owns 46,377 shares of the company’s stock worth $1,421,000 after purchasing an additional 29,358 shares during the period. Finally, Raymond James & Associates lifted its holdings in shares of CAVA Group by 299.4% during the fourth quarter. Raymond James & Associates now owns 166,946 shares of the company’s stock worth $7,175,000 after purchasing an additional 125,143 shares during the period. Institutional investors and hedge funds 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.