CAVA Group (NYSE:CAVA) Price Target Raised to $163.00 at Citigroup

CAVA Group (NYSE:CAVA) had its price target increased by Citigroup from $140.00 to $163.00 in a report released on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts have also issued research reports about the company. Argus increased their price target on CAVA Group from $104.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. TD Securities lifted their price target on shares of CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Wedbush upped their price objective on shares of CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday. TD Cowen raised their price objective on shares of CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Loop Capital boosted their target price on shares of CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a research report on Monday, August 26th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, CAVA Group has a consensus rating of “Moderate Buy” and an average target price of $136.57.

CAVA Group Price Performance

NYSE CAVA opened at $147.31 on Wednesday. The stock has a market capitalization of $16.84 billion, a P/E ratio of 320.24 and a beta of 3.23. The business has a 50 day simple moving average of $130.75 and a 200 day simple moving average of $103.50. CAVA Group has a one year low of $31.41 and a one year high of $172.43.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.04. The business had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.23%. CAVA Group’s revenue was up 38.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 earnings per share. Equities analysts expect that CAVA Group will post 0.44 earnings per share for the current year.

Insiders Place Their Bets

In other CAVA Group news, Director Theodoros Xenohristos sold 98,490 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.77, for a total value of $12,387,087.30. Following the completion of the transaction, the director now owns 424,846 shares in the company, valued at $53,432,881.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Brett Schulman sold 201,504 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.53, for a total value of $25,294,797.12. Following the transaction, the chief executive officer now owns 702,590 shares in the company, valued at approximately $88,196,122.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Theodoros Xenohristos sold 98,490 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.77, for a total value of $12,387,087.30. Following the completion of the sale, the director now directly owns 424,846 shares of the company’s stock, valued at $53,432,881.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 304,994 shares of company stock valued at $38,310,084 in the last 90 days. 12.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. SpiderRock Advisors LLC raised its stake in CAVA Group by 8.9% in the 3rd quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock valued at $59,364,000 after acquiring an additional 39,319 shares during the period. Xponance Inc. raised its position in shares of CAVA Group by 95.2% in the second quarter. Xponance Inc. now owns 9,846 shares of the company’s stock valued at $913,000 after purchasing an additional 4,803 shares during the period. PFG Investments LLC lifted its stake in shares of CAVA Group by 36.8% during the 3rd quarter. PFG Investments LLC now owns 15,907 shares of the company’s stock valued at $1,970,000 after buying an additional 4,275 shares in the last quarter. Intech Investment Management LLC bought a new position in CAVA Group in the 2nd quarter worth approximately $1,728,000. Finally, Aigen Investment Management LP purchased a new position in CAVA Group in the 3rd quarter valued at approximately $1,293,000. 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.