Piper Sandler Upgrades CAVA Group (NYSE:CAVA) to “Overweight”

CAVA Group (NYSE:CAVA) was upgraded by equities researchers at Piper Sandler from a “neutral” rating to an “overweight” rating in a report issued on Friday, MarketBeat Ratings reports. The firm presently has a $115.00 target price on the stock, down from their prior target price of $142.00. Piper Sandler’s target price indicates a potential upside of 21.08% from the company’s current price.

CAVA has been the subject of a number of other reports. UBS Group dropped their price target on CAVA Group from $160.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Robert W. Baird increased their target price on CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. William Blair reissued an “outperform” rating on shares of CAVA Group in a report on Wednesday. Sanford C. Bernstein assumed coverage on shares of CAVA Group in a research note on Wednesday, November 20th. They set a “market perform” rating and a $145.00 price target on the stock. Finally, Wedbush reissued an “outperform” rating and issued a $150.00 price objective on shares of CAVA Group in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $131.47.

CAVA Group Price Performance

CAVA Group stock opened at $94.98 on Friday. The firm’s 50 day moving average price is $120.73 and its 200-day moving average price is $125.57. CAVA Group has a 1 year low of $56.03 and a 1 year high of $172.43. The stock has a market cap of $10.88 billion, a P/E ratio of 206.47 and a beta of 3.25.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The company had revenue of $227.40 million during the quarter, compared to analysts’ expectations of $223.34 million. As a group, equities analysts expect that CAVA Group will post 0.5 EPS for the current year.

Insider Buying and Selling at CAVA Group

In other news, CEO Brett Schulman sold 20,564 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $2,450,817.52. Following the completion of the sale, the chief executive officer now directly owns 776,369 shares of the company’s stock, valued at approximately $92,527,657.42. The trade was a 2.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Adam David Phillips sold 615 shares of the company’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $76,499.85. Following the completion of the transaction, the chief accounting officer now owns 10,884 shares in the company, valued at approximately $1,353,860.76. The trade was a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 651,784 shares of company stock worth $96,522,922 over the last 90 days. Company insiders own 12.10% of the company’s stock.

Institutional Trading of CAVA Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in CAVA Group in the fourth quarter worth approximately $12,561,000. Jefferies Financial Group Inc. lifted its holdings in shares of CAVA Group by 84.6% in the 4th quarter. Jefferies Financial Group Inc. now owns 10,795 shares of the company’s stock worth $1,218,000 after buying an additional 4,946 shares during the period. Liberty Square Wealth Partners LLC bought a new position in shares of CAVA Group during the 4th quarter worth $203,000. Forum Financial Management LP purchased a new position in shares of CAVA Group during the fourth quarter valued at $230,000. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of CAVA Group by 1.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 27,763 shares of the company’s stock valued at $3,132,000 after acquiring an additional 362 shares in the last quarter. 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.