CAVA Group (NYSE:CAVA) Hits New 52-Week High at $74.58

CAVA Group, Inc. (NYSE:CAVA - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $74.58 and last traded at $72.83, with a volume of 1351816 shares changing hands. The stock had previously closed at $70.59.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CAVA shares. William Blair reissued an "outperform" rating on shares of CAVA Group in a research report on Tuesday, February 27th. Citigroup upped their target price on CAVA Group from $49.00 to $60.00 and gave the company a "neutral" rating in a research report on Wednesday, February 28th. Piper Sandler lifted their price target on CAVA Group from $46.00 to $63.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 28th. TD Cowen reissued a "buy" rating and issued a $63.00 price objective on shares of CAVA Group in a report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. raised their target price on shares of CAVA Group from $50.00 to $64.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 19th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $60.42.

CAVA Group Trading Up 1.9 %

The company has a fifty day moving average of $62.79 and a two-hundred day moving average of $48.23.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its quarterly earnings data on Monday, February 26th. The company reported $0.02 EPS for the quarter, topping analysts' consensus estimates of $0.01 by $0.01. CAVA Group had a net margin of 1.82% and a return on equity of 4.28%. The company had revenue of $175.50 million during the quarter, compared to the consensus estimate of $240.03 million. The company's revenue was up 52.6% on a year-over-year basis. Analysts anticipate that CAVA Group, Inc. will post 0.25 EPS for the current year.

Insider Activity at CAVA Group

In other CAVA Group news, Director Theodoros Xenohristos sold 47,239 shares of the business's 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 transaction, the director now owns 526,521 shares in the company, valued at approximately $35,956,119.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other CAVA Group news, Director Theodoros Xenohristos sold 47,239 shares of the firm's stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $68.29, for a total value of $3,225,951.31. Following the completion of the sale, the director now owns 526,521 shares of the company's stock, valued at $35,956,119.09. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director International S.C.A. Artal sold 2,000,000 shares of the business's stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $66.25, for a total transaction of $132,500,000.00. Following the sale, the director now owns 26,507,990 shares in the company, valued at $1,756,154,337.50. 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 90 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital Research Global Investors increased its position in shares of CAVA Group by 249.5% in the fourth quarter. Capital Research Global Investors now owns 4,369,281 shares of the company's stock valued at $187,792,000 after buying an additional 3,119,281 shares in the last quarter. 1832 Asset Management L.P. raised its position in CAVA Group by 79.5% during the fourth quarter. 1832 Asset Management L.P. now owns 2,248,400 shares of the company's stock worth $96,636,000 after acquiring an additional 995,800 shares during the last quarter. Artemis Investment Management LLP purchased a new stake in shares of CAVA Group in the first quarter valued at about $38,225,000. FMR LLC grew its position in shares of CAVA Group by 92.1% in the third quarter. FMR LLC now owns 1,138,113 shares of the company's stock valued at $34,860,000 after purchasing an additional 545,799 shares during the last quarter. Finally, Armstrong Fleming & Moore Inc purchased a new position in shares of CAVA Group during the 4th quarter worth approximately $16,341,000. 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.