CAVA Group (NYSE:CAVA) Hits New 1-Year High at $74.58

CAVA Group, Inc. (NYSE:CAVA)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $74.58 and last traded at $72.83, with a volume of 1351816 shares trading hands. The stock had previously closed at $70.59.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CAVA. Morgan Stanley boosted their price objective on shares of CAVA Group from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Citigroup raised their price objective on CAVA Group from $49.00 to $60.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Barclays initiated coverage on shares of CAVA Group in a research report on Monday, April 15th. They issued an “equal weight” rating and a $58.00 price target for the company. Wedbush raised their price objective on shares of CAVA Group from $65.00 to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 16th. Finally, Robert W. Baird increased their price objective on CAVA Group from $54.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, CAVA Group presently has a consensus rating of “Moderate Buy” and an average target price of $60.42.

CAVA Group Stock Up 2.1 %

The company’s 50 day moving average is $62.43 and its 200 day moving average is $47.95.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Monday, February 26th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $175.50 million for 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 company’s quarterly revenue was up 52.6% on a year-over-year basis. Research analysts forecast that CAVA Group, Inc. will post 0.25 EPS for the current fiscal year.

Insider Buying and Selling at CAVA Group

In related news, Director Theodoros Xenohristos sold 47,239 shares of CAVA Group stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 526,521 shares in the company, valued at approximately $35,956,119.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other CAVA Group news, Director International S.C.A. Artal sold 2,000,000 shares of the firm’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 sale, the director now directly owns 26,507,990 shares of the company’s stock, valued at approximately $1,756,154,337.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Theodoros Xenohristos sold 47,239 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now directly owns 526,521 shares of the company’s stock, valued at approximately $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 worth $221,525,951.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its position in shares of CAVA Group by 190.0% in 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 during the period. State Board of Administration of Florida Retirement System acquired a new position in shares of CAVA Group during the 3rd quarter valued at about $449,000. Brandywine Global Investment Management LLC purchased a new position in shares of CAVA Group during the 3rd quarter worth about $1,937,000. New York State Common Retirement Fund boosted its position in shares of CAVA Group by 172.5% in the third quarter. New York State Common Retirement Fund now owns 46,377 shares of the company’s stock worth $1,421,000 after acquiring an additional 29,358 shares during the last quarter. Finally, Raymond James & Associates grew its holdings in CAVA Group by 299.4% in the fourth quarter. Raymond James & Associates now owns 166,946 shares of the company’s stock valued at $7,175,000 after purchasing an additional 125,143 shares during the period. 73.15% of the stock is currently owned by institutional investors and hedge funds.

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.