CAVA Group (NYSE:CAVA) Rating Increased to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of CAVA Group (NYSE:CAVA) from a neutral rating to an overweight rating in a report issued on Thursday morning, Marketbeat Ratings reports. The brokerage currently has $110.00 target price on the stock.

CAVA has been the subject of several other research reports. Piper Sandler raised shares of CAVA Group from a “neutral” rating to an “overweight” rating and lowered their price target for the stock from $142.00 to $115.00 in a research report on Friday, February 28th. Wedbush reissued an “outperform” rating and set a $150.00 target price on shares of CAVA Group in a research report on Wednesday, February 26th. TD Securities decreased their target price on shares of CAVA Group from $150.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. UBS Group decreased their target price on shares of CAVA Group from $160.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Finally, William Blair reissued an “outperform” rating on shares of CAVA Group in a research report on Wednesday, February 26th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $131.47.

CAVA Group Stock Performance

Shares of CAVA opened at $84.69 on Thursday. The company has a 50 day moving average price of $111.31 and a 200-day moving average price of $123.09. CAVA Group has a fifty-two week low of $58.22 and a fifty-two week high of $172.43. The stock has a market capitalization of $9.79 billion, a PE ratio of 184.10 and a beta of 3.58.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share 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 business had revenue of $227.40 million during the quarter, compared to analysts’ expectations of $223.34 million. Equities research analysts forecast that CAVA Group will post 0.5 EPS for the current year.

Insider Transactions at CAVA Group

In other news, CFO Tricia K. Tolivar sold 2,086 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total value of $248,609.48. Following the sale, the chief financial officer now owns 235,592 shares in the company, valued at $28,077,854.56. This represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brett Schulman sold 20,564 shares of the stock in a transaction on Tuesday, January 21st. The stock was 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 owns 776,369 shares in the company, valued at $92,527,657.42. The trade was a 2.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,235 shares of company stock worth $3,514,101 over the last 90 days. 12.10% of the stock is currently owned by company insiders.

Institutional Trading of CAVA Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI acquired a new stake in CAVA Group during the fourth quarter valued at $25,000. Allworth Financial LP grew its position in CAVA Group by 369.2% during the fourth quarter. Allworth Financial LP now owns 244 shares of the company’s stock valued at $30,000 after buying an additional 192 shares during the period. Larson Financial Group LLC grew its position in CAVA Group by 274.0% during the fourth quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock valued at $31,000 after buying an additional 200 shares during the period. Whittier Trust Co. grew its position in CAVA Group by 80.9% during the fourth quarter. Whittier Trust Co. now owns 284 shares of the company’s stock valued at $32,000 after buying an additional 127 shares during the period. Finally, Signaturefd LLC grew its position in CAVA Group by 884.4% during the fourth quarter. Signaturefd LLC now owns 315 shares of the company’s stock valued at $36,000 after buying an additional 283 shares during the period. 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.