CAVA Group (NYSE:CAVA) Given New $163.00 Price Target at Citigroup

CAVA Group (NYSE:CAVA) had its price objective upped by research analysts at Citigroup from $140.00 to $163.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective would indicate a potential upside of 5.51% from the stock’s current price.

A number of other research firms have also commented on CAVA. Argus lifted their price target on shares of CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Morgan Stanley downgraded shares of CAVA Group from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $90.00 to $110.00 in a report on Thursday, August 29th. Robert W. Baird upped their price target on shares of CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Wedbush lifted their price objective on CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, William Blair restated an “outperform” rating on shares of CAVA Group in a research note on Wednesday. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $136.57.

CAVA Group Price Performance

Shares of CAVA stock traded up $9.46 on Wednesday, hitting $154.49. The company’s stock had a trading volume of 8,647,584 shares, compared to its average volume of 2,723,593. The stock has a market capitalization of $17.66 billion, a price-to-earnings ratio of 422.46 and a beta of 3.23. CAVA Group has a fifty-two week low of $31.41 and a fifty-two week high of $172.43. The firm’s fifty day moving average price is $130.09 and its 200-day moving average price is $103.20.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.04. CAVA Group had a return on equity of 7.37% and a net margin of 5.04%. The company had revenue of $243.82 million during the quarter, compared to the consensus estimate of $233.05 million. During the same quarter in the prior year, the company posted $0.06 EPS. The firm’s revenue was up 38.9% on a year-over-year basis. Analysts predict that CAVA Group will post 0.44 EPS for the current fiscal year.

Insider Activity

In other CAVA Group 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 transaction, the director now owns 424,846 shares of the company’s stock, valued at approximately $53,432,881.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other CAVA Group news, Director Theodoros Xenohristos sold 98,490 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.77, for a total value of $12,387,087.30. Following the completion of the transaction, the director now directly owns 424,846 shares of the company’s stock, valued at approximately $53,432,881.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Tricia K. Tolivar sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.64, for a total transaction of $628,200.00. Following the transaction, the chief financial officer now owns 292,600 shares in the company, valued at $36,762,264. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 304,994 shares of company stock worth $38,310,084. Insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On CAVA Group

Several large investors have recently made changes to their positions in CAVA. Jamison Private Wealth Management Inc. acquired a new position in CAVA Group in the second quarter valued at approximately $28,000. Nemes Rush Group LLC bought a new stake in shares of CAVA Group during the 2nd quarter valued at $28,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of CAVA Group in the 2nd quarter valued at $36,000. Headlands Technologies LLC bought a new position in shares of CAVA Group in the 2nd quarter worth $37,000. Finally, GAMMA Investing LLC grew its stake in shares of CAVA Group by 68.3% during the third quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock worth $38,000 after purchasing an additional 125 shares during the period. Institutional investors and hedge funds own 73.15% of the company’s stock.

About CAVA Group

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.