Wedbush Raises CAVA Group (NYSE:CAVA) Price Target to $74.00

CAVA Group (NYSE:CAVA) had its target price lifted by Wedbush from $65.00 to $74.00 in a research note published on Tuesday morning, Benzinga reports. Wedbush currently has an outperform rating on the stock. Wedbush also issued estimates for CAVA Group’s Q1 2024 earnings at $0.06 EPS, Q2 2024 earnings at $0.13 EPS, Q4 2024 earnings at $0.00 EPS, FY2024 earnings at $0.29 EPS, Q1 2025 earnings at $0.08 EPS, Q2 2025 earnings at $0.15 EPS, Q3 2025 earnings at $0.13 EPS, Q4 2025 earnings at $0.02 EPS and FY2025 earnings at $0.38 EPS.

Several other brokerages also recently commented on CAVA. Piper Sandler boosted their target price on shares of CAVA Group from $46.00 to $63.00 and gave the company an overweight rating in a research note on Wednesday, February 28th. TD Cowen restated a buy rating and issued a $63.00 target price on shares of CAVA Group in a research note on Wednesday, April 10th. Morgan Stanley boosted their target price on shares of CAVA Group from $62.00 to $68.00 and gave the company an overweight rating in a research note on Friday, April 12th. Robert W. Baird boosted their target price on shares of CAVA Group from $54.00 to $62.00 and gave the company an outperform rating in a research note on Thursday, February 15th. Finally, Citigroup boosted their target price on shares of CAVA Group from $49.00 to $60.00 and gave the company a neutral rating in a research note on Wednesday, February 28th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $60.42.

CAVA Group Trading Down 0.1 %

CAVA opened at $61.50 on Tuesday. CAVA Group has a fifty-two week low of $29.05 and a fifty-two week high of $71.60. The firm’s fifty day moving average price is $60.95 and its two-hundred day moving average price is $46.06.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Monday, February 26th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. CAVA Group had a net margin of 1.82% and a return on equity of 4.28%. The firm had revenue of $175.50 million for the quarter, compared to the consensus estimate of $240.03 million. The business’s quarterly revenue was up 52.6% compared to the same quarter last year. On average, sell-side analysts anticipate that CAVA Group will post 0.25 EPS for the current fiscal year.

Insider Buying and Selling

In other CAVA Group news, Director Theodoros Xenohristos sold 47,239 shares of the firm’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 value of $3,225,951.31. Following the transaction, the director now directly owns 526,521 shares of the company’s stock, valued at $35,956,119.09. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other CAVA Group news, Director Theodoros Xenohristos sold 47,239 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $68.29, for a total transaction of $3,225,951.31. Following the transaction, the director now owns 526,521 shares in the company, valued at $35,956,119.09. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director International S.C.A. Artal sold 2,000,000 shares of the firm’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 transaction, the director now owns 26,507,990 shares in the company, valued at approximately $1,756,154,337.50. The disclosure for this sale can be found here. Insiders sold a total of 3,547,239 shares of company stock valued at $221,525,951 over the last ninety days.

Hedge Funds Weigh In On CAVA Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC raised its position in shares of CAVA Group by 101.2% during the first quarter. CWM LLC now owns 505 shares of the company’s stock worth $35,000 after purchasing an additional 254 shares during the period. Montag A & Associates Inc. acquired a new stake in shares of CAVA Group during the fourth quarter worth about $26,000. Headlands Technologies LLC acquired a new stake in shares of CAVA Group during the third quarter worth about $26,000. PNC Financial Services Group Inc. raised its position in shares of CAVA Group by 190.0% during the third quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock worth $27,000 after purchasing an additional 570 shares during the period. Finally, Clearstead Advisors LLC acquired a new stake in shares of CAVA Group during the third quarter worth about $31,000. Institutional investors 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.