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

CAVA Group (NYSE:CAVA) had its price objective boosted by Wedbush from $65.00 to $74.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s target price would suggest a potential upside of 20.19% from the company’s previous close. Wedbush also issued estimates for CAVA Group’s Q1 2024 earnings at $0.06 EPS, Q2 2024 earnings at $0.13 EPS, FY2024 earnings at $0.29 EPS, Q1 2025 earnings at $0.08 EPS, Q2 2025 earnings at $0.15 EPS, Q3 2025 earnings at $0.13 EPS and FY2025 earnings at $0.38 EPS.

Several other research analysts have also issued reports on CAVA. William Blair reaffirmed an “outperform” rating on shares of CAVA Group in a research report on Tuesday, February 27th. Morgan Stanley lifted their price objective on CAVA Group from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Robert W. Baird lifted their price objective on CAVA Group from $54.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. JPMorgan Chase & Co. raised their target price on CAVA Group from $50.00 to $64.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Finally, Argus upgraded 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. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, CAVA Group presently has a consensus rating of “Moderate Buy” and an average price target of $60.42.

CAVA Group Stock Down 2.1 %

Shares of NYSE:CAVA opened at $61.57 on Tuesday. CAVA Group has a 12-month low of $29.05 and a 12-month high of $71.60. The business has a fifty day simple moving average of $60.95 and a 200 day simple moving average of $46.06.

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

Insider Activity

In other news, Director Theodoros Xenohristos sold 47,239 shares of the company’s 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 transaction, the director now directly owns 526,521 shares of the company’s stock, valued at $35,956,119.09. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director International S.C.A. Artal sold 2,000,000 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $66.25, for a total value of $132,500,000.00. Following the transaction, the director now owns 26,507,990 shares in the company, valued at $1,756,154,337.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Theodoros Xenohristos sold 47,239 shares of the company’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 completion of the transaction, the director now owns 526,521 shares in the company, valued at approximately $35,956,119.09. The disclosure for this sale can be found here. Insiders sold a total of 3,547,239 shares of company stock valued at $221,525,951 over the last three months.

Hedge Funds Weigh In On CAVA Group

Several institutional investors have recently bought and sold shares of the company. Fox Hill Wealth Management purchased a new position in CAVA Group in the first quarter valued at approximately $1,771,000. Toth Financial Advisory Corp lifted its position in shares of CAVA Group by 197.6% during the first quarter. Toth Financial Advisory Corp now owns 1,506 shares of the company’s stock worth $105,000 after acquiring an additional 1,000 shares in the last quarter. Artemis Investment Management LLP purchased a new stake in shares of CAVA Group during the first quarter worth $38,225,000. Traynor Capital Management Inc. purchased a new stake in shares of CAVA Group during the first quarter worth $287,000. Finally, CHURCHILL MANAGEMENT Corp purchased a new stake in shares of CAVA Group during the first quarter worth $3,213,000. Hedge funds and other 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.