Brokerages Set CAVA Group, Inc. (NYSE:CAVA) Target Price at $143.80

Shares of CAVA Group, Inc. (NYSE:CAVA - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the sixteen analysts that are presently covering the firm, MarketBeat reports. Eight equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $143.80.

Several analysts recently commented on the company. JPMorgan Chase & Co. raised their price objective on CAVA Group from $90.00 to $110.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 13th. Loop Capital raised their price target on CAVA Group from $122.00 to $147.00 and gave the stock a "hold" rating in a research report on Thursday, November 14th. Wedbush boosted their price objective on CAVA Group from $155.00 to $190.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Piper Sandler raised their target price on shares of CAVA Group from $100.00 to $142.00 and gave the stock a "neutral" rating in a report on Friday, November 15th. Finally, Stifel Nicolaus lifted their price target on shares of CAVA Group from $118.00 to $175.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th.

CAVA Group Price Performance

Shares of CAVA Group stock traded up $2.75 during trading on Monday, hitting $126.80. 2,627,774 shares of the company were exchanged, compared to its average volume of 2,795,569. The firm has a market capitalization of $14.53 billion, a P/E ratio of 275.63 and a beta of 2.93. The firm's fifty day moving average price is $137.67 and its 200 day moving average price is $113.38. CAVA Group has a 1-year low of $39.05 and a 1-year high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, beating 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 net margin of 5.88% and a return on equity of 9.10%. The business's revenue for the quarter was up 38.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.06 earnings per share. As a group, equities research analysts anticipate that CAVA Group will post 0.5 earnings per share for the current year.

Insider Activity at CAVA Group

In related news, Director Karen Kochevar sold 15,000 shares of the business's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $142.23, for a total transaction of $2,133,450.00. Following the transaction, the director now directly owns 1,307 shares in the company, valued at approximately $185,894.61. The trade was a 91.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronald M. Shaich sold 622,549 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $149.40, for a total transaction of $93,008,820.60. Following the completion of the sale, the director now owns 6,307 shares of the company's stock, valued at approximately $942,265.80. This represents a 99.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 652,549 shares of company stock valued at $97,242,271. Corporate insiders own 12.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. FMR LLC raised its stake in CAVA Group by 0.9% in the 3rd quarter. FMR LLC now owns 3,485,033 shares of the company's stock valued at $431,621,000 after acquiring an additional 29,668 shares during the period. Two Sigma Advisers LP raised its position in shares of CAVA Group by 17.0% in the third quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company's stock valued at $273,820,000 after purchasing an additional 321,800 shares during the period. Lord Abbett & CO. LLC lifted its stake in shares of CAVA Group by 1.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,358,250 shares of the company's stock worth $168,219,000 after buying an additional 19,493 shares during the last quarter. State Street Corp boosted its holdings in shares of CAVA Group by 33.3% during the 3rd quarter. State Street Corp now owns 1,267,333 shares of the company's stock worth $156,959,000 after buying an additional 316,514 shares during the period. Finally, Geode Capital Management LLC grew its stake in CAVA Group by 121.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company's stock valued at $151,492,000 after buying an additional 669,599 shares during the last quarter. 73.15% of the stock is currently 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.