CAVA Group’s (CAVA) “Outperform” Rating Reaffirmed at William Blair

William Blair restated their outperform rating on shares of CAVA Group (NYSE:CAVA) in a report published on Wednesday morning,RTT News reports. William Blair also issued estimates for CAVA Group’s FY2024 earnings at $0.49 EPS.

Other equities research analysts have also issued reports about the stock. TD Securities boosted their price objective on shares of CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. UBS Group initiated coverage on shares of CAVA Group in a research report on Friday, September 27th. They set a “neutral” rating and a $135.00 price target for the company. Citigroup lifted their price objective on CAVA Group from $115.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Loop Capital increased their target price on CAVA Group from $80.00 to $122.00 and gave the company a “hold” rating in a report on Monday, August 26th. Finally, JPMorgan Chase & Co. raised their price target on CAVA Group from $77.00 to $90.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Eight 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 $143.71.

CAVA Group Stock Performance

NYSE CAVA opened at $141.38 on Wednesday. CAVA Group has a 52-week low of $31.47 and a 52-week high of $172.43. The company has a fifty day moving average of $131.69 and a 200-day moving average of $104.46. The company has a market capitalization of $16.16 billion, a P/E ratio of 307.35 and a beta of 3.23.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share (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 analysts’ expectations of $233.05 million. CAVA Group had a return on equity of 9.23% and a net margin of 5.88%. The company’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 EPS. As a group, analysts forecast that CAVA Group will post 0.46 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Brett Schulman sold 201,504 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the transaction, the chief executive officer now owns 702,590 shares in the company, valued at $88,196,122.70. The trade was a 22.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Tricia K. Tolivar sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.64, for a total transaction of $628,200.00. Following the completion of the sale, the chief financial officer now owns 292,600 shares of the company’s stock, valued at $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. In the last ninety days, insiders sold 304,994 shares of company stock worth $38,310,084. 12.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CAVA Group

A number of institutional investors have recently added to or reduced their stakes in the company. Swiss National Bank boosted its holdings in shares of CAVA Group by 50.2% during the 1st quarter. Swiss National Bank now owns 67,300 shares of the company’s stock valued at $4,714,000 after buying an additional 22,500 shares in the last quarter. Sei Investments Co. boosted its stake in CAVA Group by 70.6% during the first quarter. Sei Investments Co. now owns 35,784 shares of the company’s stock worth $2,507,000 after acquiring an additional 14,811 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in CAVA Group in the first quarter worth about $6,532,000. Kingsview Wealth Management LLC bought a new position in shares of CAVA Group during the first quarter valued at approximately $294,000. Finally, Vanguard Group Inc. lifted its holdings in shares of CAVA Group by 215.7% during the first quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock valued at $346,330,000 after purchasing an additional 3,377,840 shares during the last quarter. 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.