CAVA Group (NYSE:CAVA) Stock Price Expected to Rise, Piper Sandler Analyst Says

CAVA Group (NYSE:CAVA - Free Report) had its price target raised by Piper Sandler from $100.00 to $142.00 in a report published on Friday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other brokerages have also issued reports on CAVA. UBS Group assumed coverage on CAVA Group in a research note on Friday, September 27th. They issued a "neutral" rating and a $135.00 price target on the stock. TD Cowen raised their price objective on CAVA Group from $130.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday. Morgan Stanley upped their target price on shares of CAVA Group from $123.00 to $135.00 and gave the stock an "equal weight" rating in a report on Thursday. Wedbush raised their price target on shares of CAVA Group from $155.00 to $190.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, Stifel Nicolaus upped their price objective on shares of CAVA Group from $118.00 to $175.00 and gave the company a "buy" rating in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, CAVA Group currently has an average rating of "Moderate Buy" and an average target price of $143.71.

CAVA Group Stock Performance

Shares of CAVA traded up $2.89 during trading hours on Friday, hitting $141.23. The stock had a trading volume of 3,968,069 shares, compared to its average volume of 2,763,479. The firm has a market capitalization of $16.15 billion, a price-to-earnings ratio of 307.02 and a beta of 3.23. The firm has a 50-day moving average price of $131.69 and a 200 day moving average price of $104.24. CAVA Group has a fifty-two week low of $31.47 and a fifty-two week high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate 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%. CAVA Group's revenue for the quarter was up 38.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.06 EPS. As a group, analysts predict that CAVA Group will post 0.46 EPS for the current fiscal year.

Insider Transactions at CAVA Group

In other news, CEO Brett Schulman sold 201,504 shares of the company's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.53, for a total value of $25,294,797.12. Following the completion of the transaction, the chief executive officer now directly owns 702,590 shares in the company, valued at approximately $88,196,122.70. This represents a 22.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Tricia K. Tolivar sold 5,000 shares of CAVA Group stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.64, for a total transaction of $628,200.00. Following the sale, the chief financial officer now directly owns 292,600 shares in the company, valued at $36,762,264. This trade represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 304,994 shares of company stock valued at $38,310,084 over the last quarter. Company insiders own 12.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Nwam LLC increased its holdings in CAVA Group by 2.6% in the third quarter. Nwam LLC now owns 3,368 shares of the company's stock valued at $417,000 after buying an additional 85 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of CAVA Group by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 3,287 shares of the company's stock valued at $407,000 after acquiring an additional 110 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of CAVA Group by 6.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,916 shares of the company's stock valued at $237,000 after acquiring an additional 113 shares in the last quarter. GAMMA Investing LLC lifted its stake in CAVA Group by 68.3% during the third quarter. GAMMA Investing LLC now owns 308 shares of the company's stock worth $38,000 after purchasing an additional 125 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in CAVA Group by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 39,154 shares of the company's stock worth $3,632,000 after purchasing an additional 184 shares during the period. Hedge funds and other 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.