CAVA Group (NYSE:CAVA) Hits New 1-Year High at $75.96

CAVA Group, Inc. (NYSE:CAVA - Get Free Report) shares reached a new 52-week high on Monday . The stock traded as high as $75.96 and last traded at $75.92, with a volume of 795818 shares changing hands. The stock had previously closed at $72.17.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wedbush boosted their target price on shares of CAVA Group from $65.00 to $74.00 and gave the company an "outperform" rating in a research note on Tuesday, April 16th. William Blair reissued an "outperform" rating on shares of CAVA Group in a research report on Tuesday, February 27th. Barclays started coverage on shares of CAVA Group in a research note on Monday, April 15th. They set an "equal weight" rating and a $58.00 target price on the stock. Citigroup boosted their target price on shares of CAVA Group from $49.00 to $60.00 and gave the stock a "neutral" rating in a report on Wednesday, February 28th. Finally, Robert W. Baird increased their price objective on CAVA Group from $54.00 to $62.00 and gave the company an "outperform" rating in a research note on Thursday, February 15th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, CAVA Group has an average rating of "Moderate Buy" and a consensus target price of $60.42.

CAVA Group Stock Performance

The business has a 50-day moving average price of $64.43 and a 200-day moving average price of $49.25.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its quarterly earnings data on Monday, February 26th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.01. The firm had revenue of $175.50 million during 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 firm's quarterly revenue was up 52.6% on a year-over-year basis. As a group, analysts expect that CAVA Group, Inc. will post 0.25 earnings per share for the current fiscal 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 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 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 this hyperlink. In other news, Director International S.C.A. Artal sold 2,000,000 shares of CAVA Group stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $66.25, for a total value of $132,500,000.00. Following the transaction, the director now directly owns 26,507,990 shares in the company, valued at $1,756,154,337.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 value of $3,225,951.31. Following the sale, the director now owns 526,521 shares in the company, valued at $35,956,119.09. The disclosure for this sale can be found here. Insiders have sold a total of 3,547,239 shares of company stock worth $221,525,951 in the last ninety days.

Hedge Funds Weigh In On CAVA Group

Large investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC lifted its holdings in shares of CAVA Group by 157.2% in the third quarter. Commonwealth Equity Services LLC now owns 21,267 shares of the company's stock worth $651,000 after acquiring an additional 12,999 shares during the last quarter. Raymond James & Associates purchased a new position in CAVA Group in the 3rd quarter worth approximately $1,280,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of CAVA Group during the third quarter valued at about $215,000. Bank of New York Mellon Corp purchased a new position in shares of CAVA Group during the third quarter valued at approximately $952,000. Finally, TD Asset Management Inc purchased a new position in CAVA Group during the third quarter valued at $1,818,000. Institutional investors own 73.15% of the company's stock.

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.