CAVA Group (NYSE:CAVA) Given New $74.00 Price Target at Wedbush

CAVA Group (NYSE:CAVA) had its price objective upped by investment analysts at Wedbush from $65.00 to $74.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s price target would indicate a potential upside of 19.90% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on CAVA. William Blair reissued an “outperform” rating on shares of CAVA Group in a report on Tuesday, February 27th. Morgan Stanley boosted their target price on shares of CAVA Group from $62.00 to $68.00 and gave the company an “overweight” rating in a report on Friday. TD Cowen reissued a “buy” rating and set a $63.00 target price on shares of CAVA Group in a report on Wednesday, April 10th. Piper Sandler boosted their target price on shares of CAVA Group from $46.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. boosted their target price on shares of CAVA Group from $50.00 to $64.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, CAVA Group has a consensus rating of “Moderate Buy” and a consensus price target of $60.42.

CAVA Group Stock Down 3.2 %

Shares of CAVA Group stock opened at $61.72 on Tuesday. CAVA Group has a one year low of $29.05 and a one year high of $71.60. The business has a 50-day simple moving average of $60.49 and a 200 day simple moving average of $45.72.

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

Insider Buying and Selling at CAVA Group

In other CAVA Group news, Director Theodoros Xenohristos sold 47,239 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $68.29, for a total transaction of $3,225,951.31. Following the completion of the sale, the director now directly owns 526,521 shares in the company, valued at $35,956,119.09. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the stock in a transaction dated 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 in the company, valued at $254,976,664.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Theodoros Xenohristos sold 47,239 shares of the stock in a transaction dated 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 of the company’s stock, valued at $35,956,119.09. The disclosure for this sale can be found here. Insiders sold a total of 3,547,239 shares of company stock worth $221,525,951 over the last three months.

Hedge Funds Weigh In On CAVA Group

Institutional investors have recently bought and sold shares of the stock. Headlands Technologies LLC bought a new position in CAVA Group in the third quarter worth about $26,000. Montag A & Associates Inc. bought a new position in CAVA Group in the fourth quarter worth about $26,000. PNC Financial Services Group Inc. increased its stake 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 purchasing an additional 570 shares in the last quarter. Clearstead Advisors LLC bought a new position in shares of CAVA Group during the third quarter valued at approximately $31,000. Finally, CWM LLC increased its stake 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 purchasing an additional 254 shares in the last quarter. 73.15% of the stock is owned by 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.