CAVA Group (NYSE:CAVA) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

CAVA Group (NYSE:CAVA) had its price objective hoisted by analysts at JPMorgan Chase & Co. from $80.00 to $90.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 6.51% from the stock’s previous close.

Several other brokerages also recently commented on CAVA. Mizuho upped their target price on CAVA Group from $72.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, April 2nd. Truist Financial upped their price target on CAVA Group from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Morgan Stanley upped their price target on CAVA Group from $83.00 to $85.00 and gave the company an “equal weight” rating in a research report on Tuesday. Benchmark upped their price target on CAVA Group from $80.00 to $110.00 and gave the company a “buy” rating in a research report on Monday. Finally, BNP Paribas Exane assumed coverage on CAVA Group in a research report on Monday, March 30th. They set a “neutral” rating and a $91.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $88.70.

CAVA Group Stock Up 3.4%

Shares of NYSE CAVA traded up $3.16 during mid-day trading on Friday, hitting $96.27. 1,133,692 shares of the company traded hands, compared to its average volume of 3,436,404. CAVA Group has a 1 year low of $43.41 and a 1 year high of $101.50. The stock has a market capitalization of $11.20 billion, a price-to-earnings ratio of 178.28, a PEG ratio of 8.07 and a beta of 2.03. The business has a 50 day moving average of $81.56 and a two-hundred day moving average of $66.86.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, February 24th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. CAVA Group had a return on equity of 8.43% and a net margin of 5.40%.The business had revenue of $274.99 million during the quarter, compared to the consensus estimate of $268.04 million. During the same period in the prior year, the business posted $0.05 earnings per share. CAVA Group’s revenue was up 20.9% compared to the same quarter last year. As a group, research analysts anticipate that CAVA Group will post 0.51 EPS for the current year.

Insider Buying and Selling

In other CAVA Group news, CFO Tricia K. Tolivar sold 2,404 shares of the company’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total value of $149,384.56. Following the transaction, the chief financial officer directly owned 231,934 shares of the company’s stock, valued at $14,412,378.76. This represents a 1.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brett Schulman sold 4,542 shares of the company’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total value of $282,239.88. Following the completion of the transaction, the chief executive officer directly owned 802,783 shares in the company, valued at approximately $49,884,935.62. The trade was a 0.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 11,460 shares of company stock worth $712,124. Insiders own 6.80% of the company’s stock.

Institutional Trading of CAVA Group

Several large investors have recently made changes to their positions in CAVA. Liontrust Investment Partners LLP bought a new stake in shares of CAVA Group during the 3rd quarter worth $43,189,000. Leibman Financial Services Inc. boosted its holdings in shares of CAVA Group by 162.9% during the 4th quarter. Leibman Financial Services Inc. now owns 67,324 shares of the company’s stock worth $3,951,000 after buying an additional 41,712 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of CAVA Group by 118.3% during the 3rd quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company’s stock worth $178,432,000 after buying an additional 1,600,630 shares during the period. Renaissance Capital LLC boosted its holdings in shares of CAVA Group by 42.7% during the 3rd quarter. Renaissance Capital LLC now owns 105,730 shares of the company’s stock worth $6,387,000 after buying an additional 31,651 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of CAVA Group by 57.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 222,499 shares of the company’s stock worth $13,441,000 after buying an additional 81,393 shares during the period. Institutional investors own 73.15% of the company’s stock.

About CAVA Group

CAVA Group, Inc (NYSE: CAVA) is a leading fast-casual restaurant company specializing in Mediterranean-inspired cuisine. Operating under the CAVA brand, the company offers customizable bowls, pitas and salads built around a variety of proteins, grains, fresh vegetables and house-made spreads. With a focus on high-quality ingredients and made-to-order preparation, CAVA aims to deliver a casual yet elevated dining experience for dine-in, takeout and catering customers.

Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe’s Kitchen.