Citigroup Increases CAVA Group (NYSE:CAVA) Price Target to $81.00

CAVA Group (NYSE:CAVA) had its price objective lifted by equities researchers at Citigroup from $60.00 to $81.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective would suggest a potential upside of 2.87% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Morgan Stanley boosted their price target on CAVA Group from $62.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, April 12th. JPMorgan Chase & Co. upped their price objective on CAVA Group from $50.00 to $64.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Piper Sandler upped their price objective on CAVA Group from $46.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. TD Cowen reaffirmed a “buy” rating and set a $63.00 price objective on shares of CAVA Group in a report on Wednesday, April 10th. Finally, William Blair reaffirmed an “outperform” rating on shares of CAVA Group in a report on Tuesday, February 27th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $62.17.

CAVA Group Trading Up 0.7 %

Shares of NYSE:CAVA opened at $78.74 on Tuesday. The stock has a 50 day moving average of $68.52 and a 200 day moving average of $52.88. CAVA Group has a 12-month low of $29.05 and a 12-month high of $81.74.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Monday, February 26th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $240.03 million. CAVA Group’s quarterly revenue was up 52.6% on a year-over-year basis. As a group, research analysts expect that CAVA Group will post 0.25 earnings per share for the current year.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, Director International S.C.A. Artal sold 2,000,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $1,756,154,337.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other CAVA Group news, Director International S.C.A. Artal sold 2,000,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $1,756,154,337.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Ronald M. Shaich sold 1,500,000 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $57.20, for a total value of $85,800,000.00. Following the completion of 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. Insiders have sold 3,547,239 shares of company stock valued at $221,525,951 in the last quarter.

Hedge Funds Weigh In On CAVA Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Headlands Technologies LLC bought a new position in shares of CAVA Group during the 3rd quarter worth $26,000. Montag A & Associates Inc. bought a new position in shares of CAVA Group during the 4th quarter worth $26,000. PNC Financial Services Group Inc. lifted its stake in shares of CAVA Group by 190.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock worth $27,000 after purchasing an additional 570 shares during the last quarter. Clearstead Advisors LLC purchased a new stake in shares of CAVA Group during the 3rd quarter worth $31,000. Finally, CWM LLC lifted its stake in shares of CAVA Group by 101.2% during the 1st quarter. CWM LLC now owns 505 shares of the company’s stock worth $35,000 after purchasing an additional 254 shares during the last quarter. Institutional investors own 73.15% of the company’s stock.

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.