CAVA Group (NYSE:CAVA) Reaches New 52-Week High at $75.96

CAVA Group, Inc. (NYSE:CAVA)’s share price reached a new 52-week high on Monday . The stock traded as high as $75.96 and last traded at $75.92, with a volume of 795818 shares traded. The stock had previously closed at $72.17.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CAVA shares. Citigroup upped their price target on shares of CAVA Group from $49.00 to $60.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. JPMorgan Chase & Co. upped their price target on CAVA Group from $50.00 to $64.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Wedbush raised their price objective on CAVA Group from $65.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 16th. William Blair reiterated an “outperform” rating on shares of CAVA Group in a report on Tuesday, February 27th. Finally, Barclays assumed coverage on shares of CAVA Group in a report on Monday, April 15th. They set an “equal weight” rating and a $58.00 price target for the company. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $60.42.

CAVA Group Price Performance

The stock’s 50 day moving average price is $63.95 and its two-hundred day moving average price is $48.96.

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

Insider Buying and Selling at CAVA Group

In related news, Director International S.C.A. Artal sold 2,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $66.25, for a total transaction of $132,500,000.00. Following the completion of the transaction, the director now owns 26,507,990 shares in the company, valued at approximately $1,756,154,337.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director International S.C.A. Artal sold 2,000,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $66.25, for a total transaction of $132,500,000.00. Following the sale, the director now directly owns 26,507,990 shares in the company, valued at approximately $1,756,154,337.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ronald M. Shaich sold 1,500,000 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $57.20, for a total value of $85,800,000.00. Following the sale, the insider now directly owns 4,457,634 shares of the company’s stock, valued at $254,976,664.80. The disclosure for this sale can be found here. Insiders have sold 3,547,239 shares of company stock valued at $221,525,951 in the last 90 days.

Institutional Trading of CAVA Group

A number of institutional investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC increased its stake in shares of CAVA Group by 157.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 21,267 shares of the company’s stock valued at $651,000 after acquiring an additional 12,999 shares during the last quarter. Raymond James & Associates acquired a new stake in CAVA Group in the third quarter worth $1,280,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of CAVA Group during the third quarter worth $215,000. Bank of New York Mellon Corp acquired a new position in shares of CAVA Group in the 3rd quarter valued at $952,000. Finally, TD Asset Management Inc bought a new stake in shares of CAVA Group in the 3rd quarter valued at $1,818,000. 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.