CAVA Group (NYSE:CAVA) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

CAVA Group (NYSE:CAVA - Free Report) had its target price upped by JPMorgan Chase & Co. from $90.00 to $110.00 in a report released on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

CAVA has been the topic of several other research reports. Jefferies Financial Group upped their price objective on shares of CAVA Group from $94.00 to $117.00 and gave the company a "buy" rating in a research note on Friday, August 23rd. UBS Group began coverage on CAVA Group in a research report on Friday, September 27th. They set a "neutral" rating and a $135.00 price objective for the company. Citigroup upped their target price on CAVA Group from $115.00 to $140.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 29th. Argus lifted their price target on CAVA Group from $104.00 to $128.00 and gave the company a "buy" rating in a report on Wednesday, September 11th. Finally, William Blair reissued an "outperform" rating on shares of CAVA Group in a research note on Wednesday. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $136.57.

CAVA Group Trading Up 1.6 %

NYSE:CAVA traded up $2.28 during trading hours on Wednesday, hitting $147.31. 13,062,556 shares of the stock traded hands, compared to its average volume of 2,743,612. The firm has a market cap of $16.84 billion, a price-to-earnings ratio of 320.24 and a beta of 3.23. The firm has a 50 day moving average price of $130.75 and a 200 day moving average price of $103.50. CAVA Group has a fifty-two week low of $31.41 and a fifty-two week high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $243.82 million during the quarter, compared to the consensus estimate of $233.05 million. CAVA Group had a return on equity of 9.23% and a net margin of 5.88%. The business's revenue for the quarter was up 38.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.06 EPS. Research analysts predict that CAVA Group will post 0.44 EPS for the current year.

Insider Activity at CAVA Group

In related news, CEO Brett Schulman sold 201,504 shares of the business's stock in a transaction on 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 of the company's stock, valued at approximately $88,196,122.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Tricia K. Tolivar sold 5,000 shares of the company's stock in a transaction on 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 transaction, the chief financial officer now directly owns 292,600 shares in the company, valued at approximately $36,762,264. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brett Schulman sold 201,504 shares of CAVA Group stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the sale, the chief executive officer now owns 702,590 shares in the company, valued at $88,196,122.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 304,994 shares of company stock worth $38,310,084 in the last 90 days. 12.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On CAVA Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Research Global Investors raised its stake in CAVA Group by 21.6% during the first quarter. Capital Research Global Investors now owns 5,311,335 shares of the company's stock worth $372,059,000 after acquiring an additional 942,054 shares in the last quarter. Vanguard Group Inc. increased its position in shares of CAVA Group by 215.7% during the 1st quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company's stock worth $346,330,000 after purchasing an additional 3,377,840 shares in the last quarter. FMR LLC lifted its holdings in CAVA Group by 0.9% during the 3rd quarter. FMR LLC now owns 3,485,033 shares of the company's stock valued at $431,621,000 after purchasing an additional 29,668 shares during the last quarter. Federated Hermes Inc. boosted its position in CAVA Group by 9.7% in the second quarter. Federated Hermes Inc. now owns 1,060,029 shares of the company's stock valued at $98,318,000 after buying an additional 93,635 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in CAVA Group by 102.5% during the second quarter. Renaissance Technologies LLC now owns 892,400 shares of the company's stock worth $82,770,000 after buying an additional 451,800 shares during the last quarter. 73.15% of the stock is owned by institutional investors.

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.