CAVA Group (NYSE:CAVA) Shares Gap Up - Should You Buy?

Shares of CAVA Group, Inc. (NYSE:CAVA - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $86.67, but opened at $89.63. CAVA Group shares last traded at $89.94, with a volume of 1,348,422 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Loop Capital lowered their price objective on shares of CAVA Group from $147.00 to $100.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. JPMorgan Chase & Co. upgraded shares of 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, March 20th. William Blair reaffirmed an "outperform" rating on shares of CAVA Group in a research report on Wednesday, February 26th. Bank of America initiated coverage on CAVA Group in a research report on Monday. They set a "buy" rating and a $112.00 target price on the stock. Finally, TD Securities cut their price target on CAVA Group from $150.00 to $130.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating and eleven 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 $130.25.

CAVA Group Trading Down 0.5 %

The stock has a market capitalization of $9.87 billion, a P/E ratio of 185.63 and a beta of 3.58. The firm's fifty day moving average is $108.04 and its 200-day moving average is $121.95.

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

Insider Activity

In related news, CFO Tricia K. Tolivar sold 2,086 shares of the company's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $248,609.48. Following the completion of the sale, the chief financial officer now owns 235,592 shares in the company, valued at approximately $28,077,854.56. This represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Brett Schulman sold 20,564 shares of the firm's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $2,450,817.52. Following the transaction, the chief executive officer now owns 776,369 shares in the company, valued at approximately $92,527,657.42. This trade represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,235 shares of company stock worth $3,514,101. 12.10% of the stock is owned by corporate insiders.

Institutional Trading of CAVA Group

A number of institutional investors and hedge funds have recently modified their holdings of CAVA. Arcadia Investment Management Corp MI bought a new stake in CAVA Group in the fourth quarter valued at approximately $25,000. Allworth Financial LP grew its holdings in shares of CAVA Group by 369.2% in the 4th quarter. Allworth Financial LP now owns 244 shares of the company's stock valued at $30,000 after buying an additional 192 shares during the period. Larson Financial Group LLC raised its stake in CAVA Group by 274.0% during the 4th quarter. Larson Financial Group LLC now owns 273 shares of the company's stock worth $31,000 after buying an additional 200 shares during the period. Whittier Trust Co. lifted its holdings in CAVA Group by 80.9% during the fourth quarter. Whittier Trust Co. now owns 284 shares of the company's stock worth $32,000 after acquiring an additional 127 shares in the last quarter. Finally, Signaturefd LLC grew its stake in CAVA Group by 884.4% in the fourth quarter. Signaturefd LLC now owns 315 shares of the company's stock valued at $36,000 after acquiring an additional 283 shares during the period. 73.15% of the stock is owned by institutional investors.

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.