CAVA Group (NYSE:CAVA) Given New $90.00 Price Target at Stifel Nicolaus

CAVA Group (NYSE:CAVA) had its price target lifted by Stifel Nicolaus from $66.00 to $90.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts also recently commented on the stock. William Blair reaffirmed an outperform rating on shares of CAVA Group in a research report on Tuesday, February 27th. Citigroup boosted their target price on CAVA Group from $60.00 to $81.00 and gave the company a neutral rating in a report on Tuesday. Barclays started coverage on CAVA Group in a research report on Monday, April 15th. They set an equal weight rating and a $58.00 price target on the stock. Wedbush increased their price objective on CAVA Group from $65.00 to $74.00 and gave the company an outperform rating in a report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. raised their target price on shares of CAVA Group from $50.00 to $64.00 and gave the stock an overweight rating in a research report on Tuesday, March 19th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $65.08.

CAVA Group Stock Up 6.9 %

Shares of CAVA traded up $5.33 during mid-day trading on Friday, hitting $82.93. 3,402,979 shares of the company’s stock were exchanged, compared to its average volume of 2,359,498. CAVA Group has a fifty-two week low of $29.05 and a fifty-two week high of $84.20. The stock’s 50-day moving average is $69.17 and its 200-day moving average is $53.39.

CAVA Group (NYSE:CAVA) last issued its earnings results on Monday, February 26th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $175.50 million during the quarter, compared to the consensus estimate of $240.03 million. CAVA Group had a net margin of 1.82% and a return on equity of 4.28%. The company’s revenue was up 52.6% on a year-over-year basis. Analysts forecast that CAVA Group will post 0.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Theodoros Xenohristos sold 47,239 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $68.29, for a total transaction of $3,225,951.31. Following the sale, the director now owns 526,521 shares in the company, valued at $35,956,119.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $57.20, for a total transaction of $85,800,000.00. Following the completion of the sale, the insider now directly owns 4,457,634 shares of the company’s stock, valued at approximately $254,976,664.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Theodoros Xenohristos sold 47,239 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $68.29, for a total value of $3,225,951.31. Following the completion of the transaction, the director now owns 526,521 shares in the company, valued at $35,956,119.09. The disclosure for this sale can be found here. In the last three months, insiders sold 3,547,239 shares of company stock valued at $221,525,951.

Institutional Investors Weigh In On CAVA Group

Several large investors have recently made changes to their positions in the business. CWM LLC boosted its position in shares of CAVA Group by 101.2% in the first quarter. CWM LLC now owns 505 shares of the company’s stock worth $35,000 after buying an additional 254 shares during the period. Montag A & Associates Inc. acquired a new stake in shares of CAVA Group during the fourth quarter valued at about $26,000. American International Group Inc. boosted its holdings in CAVA Group by 194.2% in the first quarter. American International Group Inc. now owns 709 shares of the company’s stock valued at $50,000 after purchasing an additional 468 shares during the last quarter. Headlands Technologies LLC purchased a new stake in CAVA Group during the 3rd quarter worth approximately $26,000. Finally, PNC Financial Services Group Inc. grew its position in shares of CAVA Group by 190.0% during the third quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock worth $27,000 after buying an additional 570 shares in 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.