CAVA Group (NYSE:CAVA) Reaches New 1-Year High at $74.58

CAVA Group, Inc. (NYSE:CAVA)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $74.58 and last traded at $72.83, with a volume of 1351816 shares trading hands. The stock had previously closed at $70.59.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CAVA. William Blair reissued an “outperform” rating on shares of CAVA Group in a report on Tuesday, February 27th. Wedbush lifted their target price on CAVA Group from $65.00 to $74.00 and gave the company an “outperform” rating in a research note on Tuesday, April 16th. Piper Sandler upped their price target on CAVA Group from $46.00 to $63.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. Barclays initiated coverage on shares of CAVA Group in a research report on Monday, April 15th. They issued an “equal weight” rating and a $58.00 price objective on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on shares of CAVA Group from $50.00 to $64.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.42.

CAVA Group Price Performance

The business has a fifty day simple moving average of $63.17 and a 200 day simple moving average of $48.36.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Monday, February 26th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. CAVA Group had a net margin of 1.82% and a return on equity of 4.28%. The firm had revenue of $175.50 million during the quarter, compared to analysts’ expectations of $240.03 million. The business’s revenue for the quarter was up 52.6% compared to the same quarter last year. Equities research analysts expect that CAVA Group, Inc. will post 0.25 EPS for the current year.

Insider Transactions at CAVA Group

In related news, Director International S.C.A. Artal sold 2,000,000 shares of the firm’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 completion of the transaction, the director now directly owns 26,507,990 shares of the company’s stock, valued at approximately $1,756,154,337.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other CAVA Group news, major shareholder Ronald M. Shaich sold 1,500,000 shares of CAVA Group stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $57.20, for a total transaction of $85,800,000.00. Following the completion of the transaction, the insider now owns 4,457,634 shares in the company, valued at $254,976,664.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director International S.C.A. Artal sold 2,000,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $66.25, for a total transaction of $132,500,000.00. Following the completion of the sale, the director now owns 26,507,990 shares in the company, valued at $1,756,154,337.50. The disclosure for this sale can be found here. Insiders have sold 3,547,239 shares of company stock valued at $221,525,951 in the last quarter.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CAVA. Rockline Wealth Management LLC purchased a new stake in CAVA Group during the 1st quarter worth about $284,000. Capstone Investment Advisors LLC grew its holdings in shares of CAVA Group by 4.1% during the first quarter. Capstone Investment Advisors LLC now owns 31,842 shares of the company’s stock worth $2,231,000 after buying an additional 1,268 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of CAVA Group by 82.9% in the first quarter. Janney Montgomery Scott LLC now owns 41,959 shares of the company’s stock valued at $2,939,000 after buying an additional 19,012 shares during the last quarter. Private Advisor Group LLC lifted its stake in shares of CAVA Group by 69.1% during the first quarter. Private Advisor Group LLC now owns 33,619 shares of the company’s stock valued at $2,355,000 after buying an additional 13,739 shares during the period. Finally, Principal Financial Group Inc. boosted its position in CAVA Group by 84.4% during the first quarter. Principal Financial Group Inc. now owns 108,049 shares of the company’s stock worth $7,569,000 after acquiring an additional 49,453 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

CAVA Group Company Profile

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.