Wedbush Reiterates Outperform Rating for CAVA Group (NYSE:CAVA)

Wedbush reissued their outperform rating on shares of CAVA Group (NYSE:CAVA) in a research report released on Tuesday morning, Benzinga reports. The firm currently has a $100.00 price objective on the stock.

Other equities analysts have also issued reports about the company. Citigroup upped their target price on CAVA Group from $60.00 to $81.00 and gave the company a neutral rating in a research note on Tuesday, May 21st. 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. JPMorgan Chase & Co. lowered CAVA Group from an overweight rating to a neutral rating and set a $77.00 target price for the company. in a research note on Monday, June 3rd. Morgan Stanley upped their target price on CAVA Group from $85.00 to $90.00 and gave the company an overweight rating in a research note on Tuesday, July 16th. Finally, Piper Sandler lowered CAVA Group from an overweight rating to a neutral rating and upped their target price for the company from $63.00 to $92.00 in a research note on Thursday, May 30th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $82.75.

CAVA Group Stock Down 3.8 %

Shares of NYSE:CAVA opened at $81.25 on Tuesday. CAVA Group has a 52-week low of $29.05 and a 52-week high of $98.69. The stock’s fifty day simple moving average is $88.05 and its 200-day simple moving average is $70.86. The company has a market capitalization of $9.26 billion, a P/E ratio of 198.18 and a beta of 3.27.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, May 28th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.08. CAVA Group had a return on equity of 5.18% and a net margin of 3.75%. The business had revenue of $259.01 million for the quarter, compared to the consensus estimate of $246.02 million. CAVA Group’s quarterly revenue was up 27.5% compared to the same quarter last year. On average, sell-side analysts anticipate that CAVA Group will post 0.34 earnings per share for the current year.

Insider Activity

In other news, CFO Tricia K. Tolivar sold 5,949 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $94.47, for a total value of $562,002.03. Following the completion of the sale, the chief financial officer now owns 297,600 shares in the company, valued at $28,114,272. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Tricia K. Tolivar sold 5,949 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $94.47, for a total value of $562,002.03. Following the completion of the sale, the chief financial officer now owns 297,600 shares in the company, valued at $28,114,272. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Theodoros Xenohristos sold 90,000 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $91.01, for a total value of $8,190,900.00. Following the completion of the transaction, the director now directly owns 424,846 shares of the company’s stock, valued at approximately $38,665,234.46. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,420,564 shares of company stock worth $124,690,835.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC boosted its holdings in CAVA Group by 101.2% in the first quarter. CWM LLC now owns 505 shares of the company’s stock valued at $35,000 after purchasing an additional 254 shares during the last quarter. Jaffetilchin Investment Partners LLC boosted its holdings in CAVA Group by 4.2% in the second quarter. Jaffetilchin Investment Partners LLC now owns 6,907 shares of the company’s stock valued at $641,000 after purchasing an additional 278 shares during the last quarter. Jamison Private Wealth Management Inc. purchased a new position in CAVA Group in the second quarter valued at about $28,000. Miracle Mile Advisors LLC lifted its holdings in CAVA Group by 4.4% during the 1st quarter. Miracle Mile Advisors LLC now owns 7,574 shares of the company’s stock worth $531,000 after buying an additional 318 shares during the last quarter. Finally, Montag A & Associates Inc. lifted its holdings in CAVA Group by 66.7% during the 1st quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock worth $70,000 after buying an additional 400 shares during the last quarter. 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.