CAVA Group (NYSE:CAVA) PT Raised to $74.00 at Wedbush

CAVA Group (NYSE:CAVA) had its target price boosted by Wedbush from $65.00 to $74.00 in a report published on Tuesday morning, Benzinga reports. They currently have an outperform rating on the stock. Wedbush also issued estimates for CAVA Group’s Q1 2024 earnings at $0.06 EPS, Q2 2024 earnings at $0.13 EPS, Q4 2024 earnings at $0.00 EPS, FY2024 earnings at $0.29 EPS, Q1 2025 earnings at $0.08 EPS, Q2 2025 earnings at $0.15 EPS, Q3 2025 earnings at $0.13 EPS, Q4 2025 earnings at $0.02 EPS and FY2025 earnings at $0.38 EPS.

Several other equities research analysts have also commented on CAVA. Morgan Stanley upped their target price on CAVA Group from $62.00 to $68.00 and gave the company an overweight rating in a research report on Friday, April 12th. TD Cowen reaffirmed a buy rating and set a $63.00 price target on shares of CAVA Group in a research note on Wednesday, April 10th. Citigroup upped their price target on CAVA Group from $49.00 to $60.00 and gave the stock a neutral rating in a research note on Wednesday, February 28th. Robert W. Baird upped their price target on CAVA Group from $54.00 to $62.00 and gave the stock an outperform rating in a research note on Thursday, February 15th. Finally, Piper Sandler upped their price target on CAVA Group from $46.00 to $63.00 and gave the stock an overweight rating in a research note on Wednesday, February 28th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, CAVA Group currently has an average rating of Moderate Buy and an average target price of $60.42.

CAVA Group Stock Performance

Shares of CAVA Group stock opened at $61.50 on Tuesday. CAVA Group has a one year low of $29.05 and a one year high of $71.60. The stock’s 50-day moving average is $60.95 and its 200 day moving average is $46.06.

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

Insider Transactions at CAVA Group

In other news, Director Theodoros Xenohristos sold 47,239 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 526,521 shares of the company’s stock, valued at $35,956,119.09. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Theodoros Xenohristos sold 47,239 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 526,521 shares of the company’s stock, valued at $35,956,119.09. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 value of $85,800,000.00. Following the sale, the insider now directly owns 4,457,634 shares of the company’s stock, valued at $254,976,664.80. The disclosure for this sale can be found here. Insiders sold a total of 3,547,239 shares of company stock valued at $221,525,951 over the last ninety days.

Institutional Trading of CAVA Group

Institutional investors and hedge funds have recently modified their holdings of the business. Headlands Technologies LLC purchased a new stake in shares of CAVA Group during the third quarter valued at approximately $26,000. Montag A & Associates Inc. purchased a new stake in shares of CAVA Group during the fourth quarter valued at approximately $26,000. PNC Financial Services Group Inc. increased 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 valued at $27,000 after acquiring an additional 570 shares during the last quarter. Clearstead Advisors LLC purchased a new stake in shares of CAVA Group during the third quarter valued at approximately $31,000. Finally, CWM LLC increased its position in shares of CAVA Group by 101.2% during the first quarter. CWM LLC now owns 505 shares of the company’s stock valued at $35,000 after acquiring an additional 254 shares during the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

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.