CAVA Group, Inc. (NYSE:CAVA - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $91.69, but opened at $87.55. CAVA Group shares last traded at $87.46, with a volume of 1,738,059 shares traded.
Analysts Set New Price Targets
A number of research analysts have recently commented on the company. Barclays raised their target price on CAVA Group from $90.00 to $91.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Bank of America upped their target price on shares of CAVA Group from $112.00 to $121.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. KeyCorp initiated coverage on shares of CAVA Group in a report on Wednesday, July 2nd. They issued an "overweight" rating and a $100.00 price objective on the stock. Robert W. Baird boosted their price target on CAVA Group from $105.00 to $115.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Finally, 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 note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, CAVA Group currently has an average rating of "Moderate Buy" and an average target price of $115.06.
Check Out Our Latest Stock Analysis on CAVA
CAVA Group Price Performance
The stock's 50-day simple moving average is $83.17 and its two-hundred day simple moving average is $95.42. The firm has a market capitalization of $10.00 billion, a P/E ratio of 72.02, a price-to-earnings-growth ratio of 4.49 and a beta of 2.65.
CAVA Group (NYSE:CAVA - Get Free Report) last issued its quarterly 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. CAVA Group had a return on equity of 10.61% and a net margin of 13.70%. The business had revenue of $331.83 million during the quarter, compared to analyst estimates of $327.98 million. During the same quarter in the prior year, the business posted $0.12 EPS. CAVA Group's revenue for the quarter was up 28.1% compared to the same quarter last year. On average, analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.
Insider Activity at CAVA Group
In other CAVA Group news, insider Theodoros Xenohristos sold 3,062 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $230,139.92. Following the completion of the sale, the insider directly owned 350,209 shares of the company's stock, valued at $26,321,708.44. This trade represents a 0.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Adam David Phillips sold 739 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $75.16, for a total value of $55,543.24. Following the transaction, the chief accounting officer owned 11,063 shares of the company's stock, valued at $831,495.08. This represents a 6.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,951 shares of company stock worth $5,409,027 in the last three months. Corporate insiders own 6.80% of the company's stock.
Institutional Investors Weigh In On CAVA Group
Several institutional investors have recently made changes to their positions in the company. First Horizon Advisors Inc. lifted its stake in shares of CAVA Group by 1,400.0% during the 1st quarter. First Horizon Advisors Inc. now owns 285 shares of the company's stock worth $25,000 after acquiring an additional 266 shares during the last quarter. Vision Financial Markets LLC purchased a new stake in shares of CAVA Group during the first quarter valued at $26,000. Dagco Inc. purchased a new stake in shares of CAVA Group during the first quarter valued at $27,000. Versant Capital Management Inc bought a new position in shares of CAVA Group in the first quarter worth about $31,000. Finally, Brooklyn Investment Group increased its stake in CAVA Group by 168.0% in the 1st quarter. Brooklyn Investment Group now owns 402 shares of the company's stock worth $35,000 after buying an additional 252 shares during the period. Institutional investors own 73.15% of the company's stock.
About CAVA Group
(
Get Free Report)
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.
Further Reading
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