TD Cowen Forecasts Strong Price Appreciation for CAVA Group (NYSE:CAVA) Stock

CAVA Group (NYSE:CAVA) had its target price upped by equities research analysts at TD Cowen from $130.00 to $150.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price objective suggests a potential upside of 8.47% from the stock’s current price.

CAVA has been the subject of a number of other research reports. Wedbush increased their price target on CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday. Citigroup lifted their price target on shares of CAVA Group from $115.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Morgan Stanley cut shares of CAVA Group from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $90.00 to $110.00 in a report on Thursday, August 29th. UBS Group initiated coverage on shares of CAVA Group in a report on Friday, September 27th. They set a “neutral” rating and a $135.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their target price on shares of CAVA Group from $77.00 to $90.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, CAVA Group has an average rating of “Moderate Buy” and an average target price of $140.14.

CAVA Group Stock Down 6.1 %

Shares of NYSE:CAVA opened at $138.29 on Wednesday. The company has a market capitalization of $15.81 billion, a price-to-earnings ratio of 300.63 and a beta of 3.23. The company has a 50 day moving average of $130.75 and a two-hundred day moving average of $103.50. CAVA Group has a 52-week low of $31.47 and a 52-week high of $172.43.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. The firm had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.23%. The firm’s revenue was up 38.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.06 EPS. On average, equities analysts anticipate that CAVA Group will post 0.46 earnings per share for the current year.

Insider Buying and Selling at CAVA Group

In related news, CFO Tricia K. Tolivar sold 5,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.64, for a total value of $628,200.00. Following the completion of the transaction, the chief financial officer now owns 292,600 shares in the company, valued at $36,762,264. This represents a 1.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Theodoros Xenohristos sold 98,490 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the transaction, the director now directly owns 424,846 shares in the company, valued at approximately $53,432,881.42. The trade was a 18.82 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 304,994 shares of company stock worth $38,310,084. 12.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CAVA. Jamison Private Wealth Management Inc. bought a new stake in shares of CAVA Group in the 2nd quarter worth approximately $28,000. Nemes Rush Group LLC acquired a new position in CAVA Group in the second quarter worth approximately $28,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of CAVA Group during the second quarter worth $36,000. Headlands Technologies LLC purchased a new stake in shares of CAVA Group during the second quarter valued at $37,000. Finally, GAMMA Investing LLC boosted its position in shares of CAVA Group by 68.3% in the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock valued at $38,000 after purchasing an additional 125 shares during the period. 73.15% of the stock is currently owned by institutional investors.

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.