CAVA Group’s (CAVA) “Outperform” Rating Reiterated at Wedbush

CAVA Group (NYSE:CAVA)‘s stock had its “outperform” rating reissued by investment analysts at Wedbush in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $150.00 target price on the stock. Wedbush’s target price would indicate a potential upside of 50.76% from the stock’s previous close.

CAVA has been the topic of several other research reports. UBS Group dropped their target price on shares of CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Robert W. Baird boosted their price objective on CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Morgan Stanley raised their target price on CAVA Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Stifel Nicolaus boosted their price target on shares of CAVA Group from $118.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Sanford C. Bernstein initiated coverage on shares of CAVA Group in a research report on Wednesday, November 20th. They set a “market perform” rating and a $145.00 price target for the company. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, CAVA Group presently has an average rating of “Moderate Buy” and an average target price of $136.40.

CAVA Group Stock Performance

Shares of NYSE CAVA opened at $99.50 on Wednesday. The stock has a market cap of $11.40 billion, a price-to-earnings ratio of 216.29 and a beta of 3.25. CAVA Group has a fifty-two week low of $50.37 and a fifty-two week high of $172.43. The firm’s 50-day simple moving average is $122.12 and its 200 day simple moving average is $125.97.

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

Insider Activity at CAVA Group

In other news, CEO Brett Schulman sold 20,564 shares of CAVA Group 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Adam David Phillips sold 615 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $1,353,860.76. This trade represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 651,784 shares of company stock valued at $96,522,922. Corporate insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

Several hedge funds have recently added to or reduced their stakes in CAVA. Jennison Associates LLC raised its holdings in shares of CAVA Group by 36,658.7% during the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock valued at $277,683,000 after buying an additional 2,455,035 shares in the last quarter. Vanguard Group Inc. grew its position in CAVA Group by 20.4% during the fourth quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company’s stock valued at $903,709,000 after acquiring an additional 1,357,187 shares during the last quarter. Man Group plc raised its stake in shares of CAVA Group by 563.7% during the fourth quarter. Man Group plc now owns 935,075 shares of the company’s stock worth $105,476,000 after acquiring an additional 794,187 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of CAVA Group by 121.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock worth $151,492,000 after acquiring an additional 669,599 shares during the last quarter. Finally, Barclays PLC lifted its holdings in shares of CAVA Group by 116.7% in the 4th quarter. Barclays PLC now owns 84,755 shares of the company’s stock worth $9,560,000 after acquiring an additional 591,866 shares during the last quarter. Institutional investors 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.