Brokerages Set CAVA Group, Inc. (NYSE:CAVA) PT at $123.00

CAVA Group, Inc. (NYSE:CAVA - Get Free Report) has been assigned an average rating of "Moderate Buy" from the seventeen ratings firms that are currently covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $123.00.

A number of research firms have recently weighed in on CAVA. TD Securities reiterated a "buy" rating and set a $120.00 price target on shares of CAVA Group in a report on Friday, May 16th. William Blair reiterated an "outperform" rating on shares of CAVA Group in a report on Wednesday, February 26th. UBS Group cut their target price on CAVA Group from $125.00 to $112.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. JPMorgan Chase & Co. raised CAVA Group from a "neutral" rating to an "overweight" rating and set a $110.00 target price on the stock in a research report on Thursday, March 20th. Finally, Robert W. Baird boosted their target price on CAVA Group from $105.00 to $115.00 and gave the company an "outperform" rating in a research report on Friday, May 16th.

CAVA Group Stock Down 1.9%

Shares of CAVA traded down $1.48 during midday trading on Monday, reaching $76.84. The company had a trading volume of 3,751,231 shares, compared to its average volume of 3,091,222. CAVA Group has a 1-year low of $70.00 and a 1-year high of $172.43. The stock has a market cap of $8.89 billion, a PE ratio of 167.04 and a beta of 2.77. The firm has a 50 day simple moving average of $87.53 and a 200-day simple moving average of $104.73.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its earnings results on Thursday, May 15th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.08. The business had revenue of $331.83 million during the quarter, compared to the consensus estimate of $327.98 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The company's revenue for the quarter was up 28.1% on a year-over-year basis. During the same period last year, the company earned $0.12 EPS. As a group, sell-side analysts anticipate that CAVA Group will post 0.5 earnings per share for the current fiscal year.

Insider Transactions at CAVA Group

In other news, insider Theodoros Xenohristos sold 9,348 shares of the business's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $94.88, for a total transaction of $886,938.24. Following the completion of the transaction, the insider now directly owns 353,271 shares of the company's stock, valued at approximately $33,518,352.48. The trade was a 2.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kelly Costanza sold 10,243 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $86.63, for a total value of $887,351.09. Following the transaction, the insider now directly owns 125,347 shares of the company's stock, valued at approximately $10,858,810.61. This represents a 7.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.80% of the company's stock.

Hedge Funds Weigh In On CAVA Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Arcadia Investment Management Corp MI purchased a new stake in CAVA Group during the fourth quarter worth approximately $25,000. First Horizon Advisors Inc. lifted its stake in CAVA Group by 1,400.0% during the first quarter. First Horizon Advisors Inc. now owns 285 shares of the company's stock worth $25,000 after purchasing an additional 266 shares during the last quarter. Vision Financial Markets LLC purchased a new stake in CAVA Group during the first quarter worth approximately $26,000. Dagco Inc. purchased a new stake in CAVA Group during the first quarter worth approximately $27,000. Finally, Allworth Financial LP lifted its stake in CAVA Group by 369.2% during the fourth quarter. Allworth Financial LP now owns 244 shares of the company's stock worth $30,000 after purchasing an additional 192 shares during the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

About CAVA Group

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.