CAVA Group (NYSE:CAVA) Price Target Increased to $90.00 by Analysts at TD Cowen

CAVA Group (NYSE:CAVAFree Report) had its target price upped by TD Cowen from $73.00 to $90.00 in a research report released on Wednesday morning, Marketbeat Ratings reports. The firm currently has a buy rating on the stock.

Several other equities analysts have also recently issued reports on CAVA. Argus upgraded 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 note on Wednesday, April 10th. Robert W. Baird increased their target price on shares of CAVA Group from $54.00 to $62.00 and gave the stock an outperform rating in a research note on Thursday, February 15th. William Blair restated an outperform rating on shares of CAVA Group in a research note on Tuesday, February 27th. JPMorgan Chase & Co. increased their price target on CAVA Group from $50.00 to $64.00 and gave the stock an overweight rating in a research report on Tuesday, March 19th. Finally, Stifel Nicolaus boosted their price objective on CAVA Group from $66.00 to $90.00 and gave the company a buy rating in a research report on Friday, May 24th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, CAVA Group has an average rating of Moderate Buy and a consensus target price of $76.42.

Check Out Our Latest Research Report on CAVA

CAVA Group Stock Up 7.0 %

NYSE:CAVA opened at $88.16 on Wednesday. The firm’s fifty day moving average is $70.33 and its two-hundred day moving average is $54.65. CAVA Group has a one year low of $29.05 and a one year high of $89.69.

CAVA Group (NYSE:CAVAGet Free Report) last posted its earnings results on Tuesday, May 28th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.04 by $0.08. CAVA Group had a return on equity of 4.28% and a net margin of 1.82%. The firm had revenue of $259.01 million for the quarter, compared to analyst estimates of $246.02 million. The firm’s revenue for the quarter was up 27.5% on a year-over-year basis. Research analysts forecast that CAVA Group will post 0.25 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On CAVA Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of CAVA Group during the 3rd quarter worth approximately $215,000. Bank of New York Mellon Corp acquired a new stake in CAVA Group during the third quarter worth $952,000. Jump Financial LLC purchased a new stake in CAVA Group in the third quarter valued at $215,000. Barclays PLC lifted its stake in shares of CAVA Group by 80.0% in the 3rd quarter. Barclays PLC now owns 10,982 shares of the company’s stock valued at $335,000 after purchasing an additional 4,882 shares during the last quarter. Finally, Clearstead Advisors LLC purchased a new position in shares of CAVA Group during the 3rd quarter worth $31,000. 73.15% of the stock is currently owned by institutional investors and hedge funds.

About CAVA Group

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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.

Further Reading

Analyst Recommendations for CAVA Group (NYSE:CAVA)

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