TD Cowen Increases CAVA Group (NYSE:CAVA) Price Target to $150.00

CAVA Group (NYSE:CAVA) had its target price raised by equities researchers at TD Cowen from $130.00 to $150.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s target price points to a potential upside of 8.47% from the stock’s current price.

Several other research analysts have also weighed in on the stock. TD Securities upped their price objective on shares of CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Wedbush increased their price objective on CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday. Argus boosted their target price on CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Loop Capital upped their target price on CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a research report on Monday, August 26th. Finally, Citigroup lifted their price objective on shares of CAVA Group from $115.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $140.14.

CAVA Group Stock Down 6.1 %

Shares of CAVA Group stock opened at $138.29 on Wednesday. CAVA Group has a 12 month low of $31.47 and a 12 month high of $172.43. The stock has a market cap of $15.81 billion, a PE ratio of 300.63 and a beta of 3.23. The business has a fifty day simple moving average of $130.75 and a 200-day simple moving average of $103.50.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. The firm had revenue of $243.82 million during the quarter, compared to analyst estimates of $233.05 million. CAVA Group had a return on equity of 9.23% and a net margin of 5.88%. The business’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same period last year, the company posted $0.06 EPS. Analysts expect that CAVA Group will post 0.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Theodoros Xenohristos sold 98,490 shares of the stock in a transaction on Monday, August 26th. The shares were 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 approximately $53,432,881.42. This represents a 18.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Tricia K. Tolivar sold 5,000 shares of CAVA Group stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.64, for a total transaction of $628,200.00. Following the sale, the chief financial officer now owns 292,600 shares in the company, valued at approximately $36,762,264. This trade represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 304,994 shares of company stock worth $38,310,084 in the last ninety days. Insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On CAVA Group

A number of hedge funds have recently modified their holdings of CAVA. Nwam LLC raised its stake in CAVA Group by 2.6% during the third quarter. Nwam LLC now owns 3,368 shares of the company’s stock worth $417,000 after acquiring an additional 85 shares in the last quarter. CIBC Asset Management Inc grew its stake in CAVA Group by 3.5% during the third quarter. CIBC Asset Management Inc now owns 3,287 shares of the company’s stock worth $407,000 after buying an additional 110 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of CAVA Group by 6.3% during the third quarter. Farther Finance Advisors LLC now owns 1,916 shares of the company’s stock worth $237,000 after buying an additional 113 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of CAVA Group by 68.3% in the third quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock valued at $38,000 after acquiring an additional 125 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in CAVA Group by 0.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 39,154 shares of the company’s stock worth $3,632,000 after acquiring an additional 184 shares during the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

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.