CAVA Group (NYSE:CAVA) Shares Gap Up - Here's Why

Shares of CAVA Group, Inc. (NYSE:CAVA - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $81.00, but opened at $82.62. CAVA Group shares last traded at $85.34, with a volume of 719,354 shares traded.

Wall Street Analyst Weigh In

CAVA has been the topic of a number of research reports. UBS Group cut their target price on shares of CAVA Group from $160.00 to $125.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. TD Securities reduced their price objective on shares of CAVA Group from $150.00 to $130.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Loop Capital lowered their target price on shares of CAVA Group from $147.00 to $100.00 and set a "hold" rating for the company in a report on Thursday, February 27th. JPMorgan Chase & Co. upgraded CAVA Group from a "neutral" rating to an "overweight" rating and set a $110.00 price target on the stock in a research report on Thursday. Finally, Piper Sandler upgraded CAVA Group from a "neutral" rating to an "overweight" rating and reduced their target price for the stock from $142.00 to $115.00 in a report on Friday, February 28th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $131.47.

CAVA Group Stock Up 5.4 %

The company has a market capitalization of $10.21 billion, a P/E ratio of 192.04 and a beta of 3.58. The business has a fifty day moving average price of $110.68 and a 200 day moving average price of $123.02.

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CAVA Group (NYSE:CAVA - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The firm had revenue of $227.40 million for the quarter, compared to analyst estimates of $223.34 million. As a group, equities analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Insider Activity at CAVA Group

In related news, insider Theodoros Xenohristos sold 851 shares of the firm's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total value of $101,422.18. Following the completion of the transaction, the insider now directly owns 358,995 shares of the company's stock, valued at approximately $42,785,024.10. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kenneth Robert Bertram sold 678 shares of the company's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $84,336.42. Following the sale, the insider now directly owns 57,312 shares in the company, valued at $7,129,039.68. This trade represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,235 shares of company stock valued at $3,514,101. Corporate insiders own 12.10% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CAVA. Vanguard Group Inc. lifted its stake in CAVA Group by 20.4% in the 4th quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company's stock valued at $903,709,000 after purchasing an additional 1,357,187 shares during the last quarter. FMR LLC lifted its position in shares of CAVA Group by 14.1% in the fourth quarter. FMR LLC now owns 3,976,353 shares of the company's stock valued at $448,533,000 after buying an additional 491,320 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of CAVA Group by 36,658.7% during the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company's stock worth $277,683,000 after acquiring an additional 2,455,035 shares during the last quarter. Two Sigma Advisers LP raised its stake in CAVA Group by 17.0% in the 3rd quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company's stock valued at $273,820,000 after acquiring an additional 321,800 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in CAVA Group by 33.0% during the 4th quarter. Federated Hermes Inc. now owns 1,464,987 shares of the company's stock valued at $165,243,000 after purchasing an additional 363,814 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.