CAVA Group (NYSE:CAVA) Upgraded at Sanford C. Bernstein

Sanford C. Bernstein upgraded shares of CAVA Group (NYSE:CAVA - Free Report) from a market perform rating to an outperform rating in a report released on Wednesday, MarketBeat.com reports. Sanford C. Bernstein currently has $115.00 price target on the stock.

A number of other equities analysts have also commented on CAVA. JPMorgan Chase & Co. raised CAVA Group from a "neutral" rating to an "overweight" rating and set a $110.00 price objective on the stock in a research note on Thursday, March 20th. Loop Capital lowered their target price on CAVA Group from $147.00 to $100.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. TD Securities decreased their target price on shares of CAVA Group from $130.00 to $120.00 and set a "buy" rating on the stock in a report on Monday, April 21st. Wedbush reaffirmed an "outperform" rating and issued a $150.00 target price on shares of CAVA Group in a research note on Wednesday, February 26th. Finally, Bank of America initiated coverage on shares of CAVA Group in a research note on Monday, March 31st. They set a "buy" rating and a $112.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $124.19.

CAVA Group Stock Performance

CAVA Group stock traded up $0.95 on Wednesday, reaching $91.75. The company's stock had a trading volume of 1,259,206 shares, compared to its average volume of 3,108,682. The company has a market cap of $10.61 billion, a price-to-earnings ratio of 200.03 and a beta of 3.33. CAVA Group has a twelve month low of $66.15 and a twelve month high of $172.43. The business's fifty day moving average price is $87.76 and its 200 day moving average price is $115.79.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The company had revenue of $227.40 million during the quarter, compared to the consensus estimate of $223.34 million. As a group, equities analysts forecast that CAVA Group will post 0.5 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Jennison Associates LLC boosted its holdings in CAVA Group by 36,658.7% during the fourth quarter. Jennison Associates LLC now owns 2,461,732 shares of the company's stock worth $277,683,000 after buying an additional 2,455,035 shares in the last quarter. Vanguard Group Inc. lifted its position in CAVA Group by 20.4% during the 4th quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company's stock valued at $903,709,000 after purchasing an additional 1,357,187 shares during the period. Man Group plc boosted its stake in CAVA Group by 563.7% during the 4th quarter. Man Group plc now owns 935,075 shares of the company's stock worth $105,476,000 after acquiring an additional 794,187 shares during the last quarter. Barclays PLC boosted its holdings in shares of CAVA Group by 116.7% in the fourth quarter. Barclays PLC now owns 84,755 shares of the company's stock valued at $9,560,000 after buying an additional 591,866 shares during the period. Finally, Norges Bank bought a new stake in CAVA Group during the fourth quarter worth $64,538,000. Institutional investors and hedge funds own 73.15% of the company's stock.

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.