CAVA Group (NYSE:CAVA) Trading Up 2.4%

Shares of CAVA Group, Inc. (NYSE:CAVA) shot up 2.4% on Monday . The stock traded as high as $120.76 and last traded at $118.92. 1,004,368 shares were traded during mid-day trading, a decline of 64% from the average session volume of 2,810,159 shares. The stock had previously closed at $116.13.

Wall Street Analysts Forecast Growth

CAVA has been the subject of a number of recent research reports. Loop Capital increased their target price on CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a report on Monday, August 26th. Jefferies Financial Group increased their price objective on CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. TD Cowen boosted their target price on shares of CAVA Group from $95.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Argus increased their target price on shares of CAVA Group from $104.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Wedbush lifted their price target on shares of CAVA Group from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $111.58.

CAVA Group Price Performance

The company’s 50 day moving average price is $95.47 and its 200 day moving average price is $81.57. The firm has a market capitalization of $13.83 billion, a P/E ratio of 294.27 and a beta of 3.32.

CAVA Group (NYSE:CAVA) last released its earnings results on Thursday, August 22nd. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.13 by $0.04. The company had revenue of $233.50 million during the quarter, compared to analysts’ expectations of $219.47 million. CAVA Group had a return on equity of 7.37% and a net margin of 5.04%. The business’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same period last year, the firm earned $0.21 EPS. On average, research analysts anticipate that CAVA Group, Inc. will post 0.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Tricia K. Tolivar sold 5,000 shares of CAVA Group stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.64, for a total transaction of $628,200.00. Following the completion of the sale, the chief financial officer now owns 292,600 shares in the company, valued at approximately $36,762,264. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Tricia K. Tolivar sold 5,000 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.64, for a total value of $628,200.00. Following the transaction, the chief financial officer now directly owns 292,600 shares in the company, valued at approximately $36,762,264. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brett Schulman sold 66,414 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $90.11, for a total value of $5,984,565.54. Following the completion of the sale, the chief executive officer now owns 904,094 shares of the company’s stock, valued at approximately $81,467,910.34. The disclosure for this sale can be found here. In the last three months, insiders sold 493,579 shares of company stock valued at $55,510,751.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in CAVA Group by 215.7% in the first quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock valued at $346,330,000 after acquiring an additional 3,377,840 shares during the period. Capital Research Global Investors lifted its position in CAVA Group by 249.5% in the 4th quarter. Capital Research Global Investors now owns 4,369,281 shares of the company’s stock valued at $187,792,000 after acquiring an additional 3,119,281 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of CAVA Group by 79.5% in the fourth quarter. 1832 Asset Management L.P. now owns 2,248,400 shares of the company’s stock valued at $96,636,000 after purchasing an additional 995,800 shares in the last quarter. Artemis Investment Management LLP acquired a new position in shares of CAVA Group during the first quarter worth about $38,225,000. Finally, Lord Abbett & CO. LLC grew its holdings in shares of CAVA Group by 55.9% during the first quarter. Lord Abbett & CO. LLC now owns 1,373,749 shares of the company’s stock worth $96,231,000 after buying an additional 492,667 shares in the last quarter. 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.