Analysts Set CAVA Group, Inc. (NYSE:CAVA) Target Price at $56.50

Shares of CAVA Group, Inc. (NYSE:CAVA) have earned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $60.42.

Several equities analysts have weighed in on CAVA shares. Barclays assumed coverage on CAVA Group in a report on Monday. They issued an “equal weight” rating and a $58.00 price objective for the company. Morgan Stanley raised their price target on CAVA Group from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Wedbush upped their price objective on shares of CAVA Group from $65.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday. JPMorgan Chase & Co. increased their price objective on shares of CAVA Group from $50.00 to $64.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Finally, Argus raised shares of CAVA Group from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a report on Wednesday, April 10th.

CAVA Group Trading Up 1.7 %

Shares of CAVA Group stock opened at $62.83 on Wednesday. The company has a 50-day simple moving average of $60.49 and a two-hundred day simple moving average of $45.72. CAVA Group has a twelve month low of $29.05 and a twelve month high of $71.60.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Monday, February 26th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $175.50 million during the quarter, compared to the consensus estimate of $240.03 million. CAVA Group had a net margin of 1.82% and a return on equity of 4.28%. The firm’s revenue was up 52.6% on a year-over-year basis. Analysts predict that CAVA Group will post 0.24 EPS for the current fiscal year.

Insider Activity

In related news, Director Theodoros Xenohristos sold 47,239 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $68.29, for a total transaction of $3,225,951.31. Following the completion of the transaction, the director now directly owns 526,521 shares in the company, valued at approximately $35,956,119.09. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other CAVA Group news, Director International S.C.A. Artal sold 2,000,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $66.25, for a total value of $132,500,000.00. Following the completion of the transaction, the director now owns 26,507,990 shares of the company’s stock, valued at approximately $1,756,154,337.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Theodoros Xenohristos sold 47,239 shares of CAVA Group stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $68.29, for a total value of $3,225,951.31. Following the sale, the director now directly owns 526,521 shares in the company, valued at $35,956,119.09. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,547,239 shares of company stock worth $221,525,951.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC acquired a new stake in CAVA Group in the second quarter valued at $250,000. Commonwealth Equity Services LLC bought a new stake in shares of CAVA Group in the 2nd quarter valued at about $339,000. Osaic Holdings Inc. acquired a new stake in shares of CAVA Group in the second quarter valued at about $74,000. BlackRock Inc. bought a new position in shares of CAVA Group during the second quarter worth about $16,380,000. Finally, Nuveen Asset Management LLC acquired a new position in shares of CAVA Group in the second quarter worth approximately $20,285,000. Institutional investors and hedge funds own 73.15% of the company’s stock.

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.