Piper Sandler Issues Positive Forecast for CAVA Group (NYSE:CAVA) Stock Price

CAVA Group (NYSE:CAVA) had its price target boosted by Piper Sandler from $100.00 to $142.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms have also recently issued reports on CAVA. JPMorgan Chase & Co. lifted their price target on shares of CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday. Jefferies Financial Group raised their price objective on CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a report on Friday, August 23rd. TD Cowen increased their target price on shares of CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday. Stifel Nicolaus increased their price objective on shares of CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Robert W. Baird lifted 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. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $143.71.

CAVA Group Stock Performance

Shares of NYSE CAVA traded up $3.04 during mid-day trading on Friday, hitting $141.38. The stock had a trading volume of 3,975,464 shares, compared to its average volume of 2,763,479. The company has a 50 day moving average of $131.69 and a two-hundred day moving average of $104.24. CAVA Group has a twelve month low of $31.47 and a twelve month high of $172.43. The firm has a market cap of $16.16 billion, a PE ratio of 307.02 and a beta of 3.23.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.11 by $0.04. CAVA Group had a net margin of 5.88% and a return on equity of 9.23%. The business had revenue of $243.82 million for the quarter, compared to the consensus estimate of $233.05 million. During the same period in the prior year, the firm earned $0.06 EPS. The business’s revenue for the quarter was up 38.9% on a year-over-year basis. Equities research analysts predict that CAVA Group will post 0.46 EPS for the current fiscal year.

Insider Transactions at CAVA Group

In other CAVA Group news, CFO Tricia K. Tolivar sold 5,000 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.64, for a total transaction of $628,200.00. Following the sale, 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brett Schulman sold 201,504 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the completion of the sale, the chief executive officer now directly owns 702,590 shares in the company, valued at approximately $88,196,122.70. This represents a 22.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 304,994 shares of company stock worth $38,310,084 over the last ninety days. Company insiders own 12.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Jamison Private Wealth Management Inc. purchased a new position in CAVA Group in the second quarter worth $28,000. Nemes Rush Group LLC acquired a new position in shares of CAVA Group in the second quarter valued at approximately $28,000. Mark Sheptoff Financial Planning LLC acquired a new stake in CAVA Group during the second quarter worth approximately $36,000. Headlands Technologies LLC purchased a new stake in CAVA Group in the 2nd quarter worth approximately $37,000. Finally, GAMMA Investing LLC raised its holdings in 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 acquiring an additional 125 shares during the last quarter. 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.