CAVA Group's (CAVA) "Outperform" Rating Reiterated at William Blair

William Blair reiterated their outperform rating on shares of CAVA Group (NYSE:CAVA - Free Report) in a research report released on Wednesday morning,RTT News reports.

CAVA has been the subject of several other reports. JPMorgan Chase & Co. raised their target price on shares of CAVA Group from $77.00 to $90.00 and gave the company a "neutral" rating in a research note on Monday, August 26th. Wedbush boosted their price target on shares of CAVA Group from $155.00 to $190.00 and gave the stock an "outperform" rating in a research report on Wednesday. Jefferies Financial Group boosted their price target on shares of CAVA Group from $94.00 to $117.00 and gave the stock a "buy" rating in a research report on Friday, August 23rd. Barclays boosted their target price on shares of CAVA Group from $95.00 to $113.00 and gave the company an "equal weight" rating in a report on Tuesday, October 22nd. Finally, TD Cowen boosted their target price on shares of CAVA Group from $130.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $136.57.

CAVA Group Stock Performance

Shares of CAVA stock traded up $2.27 during mid-day trading on Wednesday, reaching $147.30. 12,976,625 shares of the company's stock traded hands, compared to its average volume of 2,743,270. The firm has a market capitalization of $16.84 billion, a PE ratio of 337.09 and a beta of 3.23. The firm has a 50 day moving average price of $130.09 and a two-hundred day moving average price of $103.20. CAVA Group has a 12 month low of $31.41 and a 12 month high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.04. CAVA Group had a net margin of 5.88% and a return on equity of 9.23%. The company had revenue of $243.82 million during the quarter, compared to the consensus estimate of $233.05 million. During the same quarter in the prior year, the firm posted $0.06 EPS. CAVA Group's quarterly revenue was up 38.9% compared to the same quarter last year. As a group, equities analysts expect that CAVA Group will post 0.44 earnings per share for the current fiscal year.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, Director Theodoros Xenohristos sold 98,490 shares of the business's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the completion of the sale, the director now owns 424,846 shares in the company, valued at $53,432,881.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other CAVA Group news, 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 completion of the transaction, the chief executive officer now directly owns 702,590 shares of the company's stock, valued at approximately $88,196,122.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Theodoros Xenohristos sold 98,490 shares of CAVA Group stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.77, for a total value of $12,387,087.30. Following the completion of the sale, the director now owns 424,846 shares of the company's stock, valued at approximately $53,432,881.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 304,994 shares of company stock worth $38,310,084 over the last 90 days. Insiders own 12.10% of the company's stock.

Hedge Funds Weigh In On CAVA Group

Institutional investors have recently modified their holdings of the business. SpiderRock Advisors LLC lifted its holdings in shares of CAVA Group by 8.9% during the 3rd quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company's stock valued at $59,364,000 after purchasing an additional 39,319 shares in the last quarter. Xponance Inc. lifted its holdings in shares of CAVA Group by 95.2% during the 2nd quarter. Xponance Inc. now owns 9,846 shares of the company's stock valued at $913,000 after purchasing an additional 4,803 shares in the last quarter. PFG Investments LLC lifted its holdings in shares of CAVA Group by 36.8% during the 3rd quarter. PFG Investments LLC now owns 15,907 shares of the company's stock valued at $1,970,000 after purchasing an additional 4,275 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of CAVA Group during the 2nd quarter valued at about $1,728,000. Finally, Aigen Investment Management LP bought a new position in shares of CAVA Group during the 3rd quarter valued at about $1,293,000. 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.