CAVA Group (NYSE:CAVA) Price Target Raised to $190.00 at Wedbush

CAVA Group (NYSE:CAVA - Get Free Report) had its target price upped by Wedbush from $155.00 to $190.00 in a report released on Wednesday, Marketbeat reports. The brokerage currently has an "outperform" rating on the stock. Wedbush's price target would suggest a potential upside of 28.99% from the stock's previous close.

Several other equities research analysts also recently commented on the company. Jefferies Financial Group boosted their target price on CAVA Group from $94.00 to $117.00 and gave the stock a "buy" rating in a report on Friday, August 23rd. Stifel Nicolaus raised their price objective on shares of CAVA Group from $90.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, August 19th. Citigroup upped their price objective on CAVA Group from $115.00 to $140.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 29th. Barclays boosted their target price on CAVA Group from $95.00 to $113.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. upped their price objective 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. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $136.57.

CAVA Group Trading Up 1.6 %

Shares of NYSE:CAVA traded up $2.27 during trading on Wednesday, hitting $147.30. 12,961,482 shares of the company were exchanged, compared to its average volume of 2,743,201. CAVA Group has a fifty-two week low of $31.41 and a fifty-two week high of $172.43. The firm has a fifty day moving average price of $130.09 and a two-hundred day moving average price of $103.20. The stock has a market cap of $16.84 billion, a price-to-earnings ratio of 337.09 and a beta of 3.23.

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

Insider Activity

In other CAVA Group news, CEO Brett Schulman sold 201,504 shares of the 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 sale, the chief executive officer now owns 702,590 shares in the company, valued at $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 SEC, which is available through this link. In related news, Director Theodoros Xenohristos sold 98,490 shares of the company's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.77, for a total value of $12,387,087.30. Following the transaction, the director now directly owns 424,846 shares in the company, valued at approximately $53,432,881.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brett Schulman sold 201,504 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 702,590 shares in the company, valued at approximately $88,196,122.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 304,994 shares of company stock valued at $38,310,084 in the last ninety days. 12.10% of the stock is owned by insiders.

Hedge Funds Weigh In On CAVA Group

A number of hedge funds have recently added to or reduced their stakes in CAVA. Jamison Private Wealth Management Inc. bought a new stake in shares of CAVA Group during the 2nd quarter valued at $28,000. Nemes Rush Group LLC bought a new stake in CAVA Group during the second quarter worth about $28,000. Mark Sheptoff Financial Planning LLC acquired a new stake in CAVA Group during the second quarter worth about $36,000. Headlands Technologies LLC bought a new position in CAVA Group in the 2nd quarter valued at about $37,000. Finally, GAMMA Investing LLC raised its position in shares of CAVA Group by 68.3% in the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company's stock valued at $38,000 after buying an additional 125 shares in the last quarter. 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.