CAVA Group (NYSE:CAVA) Stock Price Expected to Rise, Citigroup Analyst Says

CAVA Group (NYSE:CAVA) had its price target upped by investment analysts at Citigroup from $114.00 to $115.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s target price suggests a potential upside of 18.52% from the stock’s current price.

A number of other research firms have also issued reports on CAVA. Loop Capital lowered their target price on CAVA Group from $147.00 to $100.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Piper Sandler raised shares of CAVA Group from a “neutral” rating to an “overweight” rating and lowered their price objective for the stock from $142.00 to $115.00 in a research note on Friday, February 28th. Bank of America started coverage on shares of CAVA Group in a research note on Monday, March 31st. They set a “buy” rating and a $112.00 target price for the company. JPMorgan Chase & Co. upgraded shares of CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 price target on the stock in a research report on Thursday, March 20th. Finally, UBS Group dropped their price target on CAVA Group from $125.00 to $112.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $122.44.

CAVA Group Price Performance

CAVA Group stock opened at $97.03 on Friday. CAVA Group has a 12-month low of $70.00 and a 12-month high of $172.43. The stock has a market capitalization of $11.22 billion, a PE ratio of 210.93 and a beta of 3.28. The firm has a 50 day simple moving average of $88.07 and a 200-day simple moving average of $111.76.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Thursday, May 15th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.08. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The firm had revenue of $331.83 million during the quarter, compared to analyst estimates of $327.98 million. During the same period last year, the company posted $0.12 EPS. The firm’s quarterly revenue was up 28.1% on a year-over-year basis. On average, analysts forecast that CAVA Group will post 0.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CAVA Group news, insider Theodoros Xenohristos sold 9,348 shares of CAVA Group stock in a transaction on Friday, May 9th. The shares were sold at an average price of $94.88, for a total transaction of $886,938.24. Following the completion of the sale, the insider now owns 353,271 shares of the company’s stock, valued at $33,518,352.48. This trade represents a 2.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On CAVA Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Utah Retirement Systems grew its stake in CAVA Group by 2.5% in the fourth quarter. Utah Retirement Systems now owns 4,100 shares of the company’s stock valued at $462,000 after purchasing an additional 100 shares in the last quarter. Howard Financial Services LTD. lifted its holdings in shares of CAVA Group by 1.8% during the 4th quarter. Howard Financial Services LTD. now owns 6,194 shares of the company’s stock valued at $699,000 after buying an additional 109 shares during the last quarter. Whittier Trust Co. grew its stake in shares of CAVA Group by 80.9% in the 4th quarter. Whittier Trust Co. now owns 284 shares of the company’s stock valued at $32,000 after buying an additional 127 shares in the last quarter. Mainstream Capital Management LLC raised its position in CAVA Group by 0.7% during the fourth quarter. Mainstream Capital Management LLC now owns 17,758 shares of the company’s stock valued at $2,003,000 after acquiring an additional 132 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its position in CAVA Group by 37.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 530 shares of the company’s stock valued at $46,000 after acquiring an additional 144 shares in the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

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.