CAVA Group (NYSE:CAVA) Hits New 12-Month High at $69.66

CAVA Group, Inc. (NYSE:CAVA) reached a new 52-week high on Tuesday . The company traded as high as $69.66 and last traded at $68.95, with a volume of 99144 shares changing hands. The stock had previously closed at $68.25.

Analyst Ratings Changes

Several brokerages have recently issued reports on CAVA. Morgan Stanley raised their price target on shares of CAVA Group from $49.00 to $62.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. TD Cowen initiated coverage on shares of CAVA Group in a report on Wednesday, December 13th. They set an “outperform” rating and a $46.00 price objective for the company. Wedbush reiterated an “outperform” rating and issued a $65.00 target price (up from $59.00) on shares of CAVA Group in a research note on Tuesday, February 27th. William Blair reissued an “outperform” rating on shares of CAVA Group in a research report on Tuesday, February 27th. Finally, Citigroup boosted their target price on shares of CAVA Group from $49.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $56.50.

CAVA Group Trading Up 0.9 %

The business has a 50-day simple moving average of $54.84 and a 200-day simple moving average of $42.35.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Monday, February 26th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $175.50 million during the quarter, compared to analysts’ expectations of $240.03 million. CAVA Group had a return on equity of 4.28% and a net margin of 1.82%. The firm’s revenue was up 52.6% compared to the same quarter last year. As a group, equities analysts forecast that CAVA Group, Inc. will post 0.24 EPS for the current fiscal year.

Insider Transactions at CAVA Group

In other news, Director International S.C.A. Artal sold 2,000,000 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $66.25, for a total transaction of $132,500,000.00. Following the completion of the transaction, the director now directly owns 26,507,990 shares in the company, valued at $1,756,154,337.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director International S.C.A. Artal sold 2,000,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $66.25, for a total transaction of $132,500,000.00. Following the completion of the transaction, the director now owns 26,507,990 shares of the company’s stock, valued at $1,756,154,337.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Ronald M. Shaich sold 1,500,000 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 4,457,634 shares in the company, valued at $254,976,664.80. The disclosure for this sale can be found here.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC bought a new position in shares of CAVA Group in the third quarter valued at approximately $26,000. Montag A & Associates Inc. bought a new stake in CAVA Group during the 4th quarter valued at $26,000. PNC Financial Services Group Inc. increased its position in CAVA Group by 190.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock valued at $27,000 after purchasing an additional 570 shares during the period. Clearstead Advisors LLC purchased a new stake in shares of CAVA Group in the 3rd quarter worth about $31,000. Finally, Osaic Holdings Inc. bought a new position in CAVA Group during the 2nd quarter valued at about $74,000. 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.