CAVA Group (NYSE:CAVA) Upgraded at Sanford C. Bernstein

CAVA Group (NYSE:CAVA - Get Free Report) was upgraded by research analysts at Sanford C. Bernstein from a "market perform" rating to an "outperform" rating in a note issued to investors on Wednesday, MarketBeat reports. The firm presently has a $115.00 price objective on the stock. Sanford C. Bernstein's price objective points to a potential upside of 41.49% from the stock's current price.

CAVA has been the subject of a number of other reports. TD Securities lowered their price target on shares of CAVA Group from $130.00 to $120.00 and set a "buy" rating for the company in a research report on Monday. JPMorgan Chase & Co. raised 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. Barclays cut their target price on CAVA Group from $104.00 to $90.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Finally, Bank of America began coverage on shares of CAVA Group in a report on Monday, March 31st. They issued a "buy" rating and a $112.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $124.19.

CAVA Group Stock Up 1.1 %

Shares of CAVA stock opened at $81.28 on Wednesday. CAVA Group has a 52 week low of $59.02 and a 52 week high of $172.43. The firm has a market capitalization of $9.40 billion, a price-to-earnings ratio of 176.70 and a beta of 3.33. The stock has a fifty day moving average of $90.32 and a 200 day moving average of $116.74.

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

Insiders Place Their Bets

In other CAVA Group news, CEO Brett Schulman sold 2,936 shares of the company's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $124.39, for a total value of $365,209.04. Following the completion of the transaction, the chief executive officer now directly owns 773,433 shares in the company, valued at $96,207,330.87. This represents a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Tricia K. Tolivar sold 1,505 shares of the firm's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $187,206.95. Following the sale, the chief financial officer now owns 234,087 shares in the company, valued at $29,118,081.93. The trade was a 0.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,734 shares of company stock valued at $713,252. Insiders own 12.10% of the company's stock.

Institutional Investors Weigh In On CAVA Group

A number of institutional investors have recently bought and sold shares of the business. Oppenheimer Asset Management Inc. bought a new position in shares of CAVA Group in the first quarter worth about $370,000. Cambridge Investment Research Advisors Inc. increased its holdings in CAVA Group by 1.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 32,888 shares of the company's stock valued at $2,842,000 after acquiring an additional 567 shares during the last quarter. Praxis Investment Management Inc. lifted its position in shares of CAVA Group by 32.9% in the first quarter. Praxis Investment Management Inc. now owns 3,190 shares of the company's stock worth $276,000 after buying an additional 790 shares in the last quarter. PFG Investments LLC lifted its position in shares of CAVA Group by 47.0% in the first quarter. PFG Investments LLC now owns 20,710 shares of the company's stock worth $1,790,000 after buying an additional 6,625 shares in the last quarter. Finally, Retirement Systems of Alabama purchased a new position in CAVA Group during the 1st quarter valued at approximately $8,537,000. 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.

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