CAVA Group (NYSE:CAVA) Now Covered by UBS Group

UBS Group assumed coverage on shares of CAVA Group (NYSE:CAVA) in a report published on Friday, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $135.00 price target on the stock.

CAVA has been the topic of several other reports. Piper Sandler lowered CAVA Group from an overweight rating to a neutral rating and lifted their price target for the company from $63.00 to $92.00 in a research report on Thursday, May 30th. Citigroup upped their target price on shares of CAVA Group from $93.00 to $115.00 and gave the stock a neutral rating in a research report on Friday, August 23rd. Stifel Nicolaus lifted their price target on shares of CAVA Group from $90.00 to $110.00 and gave the company a buy rating in a research report on Monday, August 19th. Robert W. Baird boosted their price objective on shares of CAVA Group from $105.00 to $125.00 and gave the stock an outperform rating in a research note on Friday, August 23rd. Finally, Wedbush raised their target price on shares of CAVA Group from $100.00 to $120.00 and gave the company an outperform rating in a research note on Friday, August 23rd. Eight research 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 company currently has an average rating of Moderate Buy and a consensus target price of $115.64.

CAVA Group Trading Down 2.6 %

Shares of NYSE CAVA opened at $123.76 on Friday. The firm has a fifty day simple moving average of $105.19 and a two-hundred day simple moving average of $87.42. CAVA Group has a 12 month low of $29.05 and a 12 month high of $131.82. The firm has a market capitalization of $14.11 billion, a PE ratio of 301.85 and a beta of 3.34.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Thursday, August 22nd. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. The company had revenue of $233.50 million during the quarter, compared to the consensus estimate of $219.47 million. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. CAVA Group’s revenue was up 35.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.21 earnings per share. On average, sell-side analysts predict that CAVA Group will post 0.43 earnings per share for the current year.

Insider Activity

In related news, CFO Tricia K. Tolivar sold 5,000 shares of CAVA Group stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.64, for a total value of $628,200.00. Following the completion of the sale, the chief financial officer now directly owns 292,600 shares in the company, valued at approximately $36,762,264. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other CAVA Group news, CFO Tricia K. Tolivar sold 5,000 shares of the business’s stock in a transaction on Monday, August 26th. The shares were 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 directly owns 292,600 shares in the company, valued at approximately $36,762,264. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, 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 transaction, the director now directly owns 424,846 shares in the company, valued at $53,432,881.42. 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 over the last ninety days.

Institutional Investors Weigh In On CAVA Group

Several hedge funds and other institutional investors have recently made changes to their positions in CAVA. Jamison Private Wealth Management Inc. purchased a new position in shares of CAVA Group in the second quarter worth approximately $28,000. Nemes Rush Group LLC purchased a new position in shares of CAVA Group during the 2nd quarter worth $28,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of CAVA Group during the 2nd quarter valued at $36,000. Headlands Technologies LLC purchased a new stake in shares of CAVA Group in the 2nd quarter worth $37,000. Finally, Mather Group LLC. bought a new position in CAVA Group in the 2nd quarter worth $45,000. Hedge funds and other 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.