CAVA Group, Inc. (NYSE:CAVA - Get Free Report)'s share price shot up 0.7% during mid-day trading on Monday after TD Cowen raised their price target on the stock from $115.00 to $130.00. TD Cowen currently has a buy rating on the stock. CAVA Group traded as high as $131.82 and last traded at $129.70. 968,308 shares changed hands during trading, a decline of 66% from the average session volume of 2,821,556 shares. The stock had previously closed at $128.79.
A number of other equities research analysts also recently commented on CAVA. Loop Capital upped their price objective on CAVA Group from $80.00 to $122.00 and gave the company a "hold" rating in a report on Monday, August 26th. Wedbush increased their price target on shares of CAVA Group from $100.00 to $120.00 and gave the company an "outperform" rating in a research report on Friday, August 23rd. Piper Sandler cut shares of CAVA Group from an "overweight" rating to a "neutral" rating and boosted their price objective for the company from $63.00 to $92.00 in a report on Thursday, May 30th. Argus increased their target price on shares of CAVA Group from $104.00 to $128.00 and gave the stock a "buy" rating in a report on Wednesday, September 11th. Finally, Stifel Nicolaus upped their price objective on shares of CAVA Group from $90.00 to $110.00 and gave the company a "buy" rating in a research report on Monday, August 19th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $112.83.
Check Out Our Latest Research Report on CAVA Group
In related news, CEO Brett Schulman sold 201,504 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.53, for a total value of $25,294,797.12. Following the sale, the chief executive officer now owns 702,590 shares in the company, valued at approximately $88,196,122.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Theodoros Xenohristos sold 98,490 shares of the business's stock in a transaction on 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 directly owns 424,846 shares in the company, valued at approximately $53,432,881.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brett Schulman sold 201,504 shares of the company's 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 transaction, the chief executive officer now directly owns 702,590 shares in the company, valued at $88,196,122.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 310,943 shares of company stock worth $38,872,086.
Several institutional investors and hedge funds have recently modified their holdings of CAVA. Jamison Private Wealth Management Inc. bought a new stake in CAVA Group in the 2nd quarter valued at about $28,000. Nemes Rush Group LLC bought a new stake in shares of CAVA Group in the second quarter valued at approximately $28,000. CWM LLC grew its position in CAVA Group by 101.2% during the first quarter. CWM LLC now owns 505 shares of the company's stock worth $35,000 after buying an additional 254 shares in the last quarter. Mark Sheptoff Financial Planning LLC bought a new position in CAVA Group during the 2nd quarter worth $36,000. Finally, Headlands Technologies LLC acquired a new position in CAVA Group in the 2nd quarter valued at $37,000. 73.15% of the stock is currently owned by institutional investors and hedge funds.
The stock has a market capitalization of $14.79 billion, a P/E ratio of 316.34 and a beta of 3.34. The business has a 50-day moving average price of $100.83 and a two-hundred day moving average price of $85.36.
CAVA Group (NYSE:CAVA - Get Free Report) last released its earnings results on Thursday, August 22nd. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.13 by $0.04. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. The firm had revenue of $233.50 million for the quarter, compared to analyst estimates of $219.47 million. During the same period last year, the firm earned $0.21 EPS. The business's quarterly revenue was up 35.1% compared to the same quarter last year. On average, sell-side analysts forecast that CAVA Group, Inc. will post 0.43 earnings per share for the current fiscal year.
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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