Brokerages Set CAVA Group, Inc. (NYSE:CAVA) PT at $82.75

CAVA Group, Inc. (NYSE:CAVA) has earned an average rating of “Moderate Buy” from the fourteen brokerages that are covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $82.75.

Several research firms recently weighed in on CAVA. Citigroup lifted their price objective on shares of CAVA Group from $60.00 to $81.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. Argus raised shares of CAVA Group from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a report on Wednesday, April 10th. Jefferies Financial Group raised their price objective on CAVA Group from $72.00 to $94.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. TD Cowen raised their target price on shares of CAVA Group from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. Finally, Robert W. Baird increased their target price on CAVA Group from $90.00 to $92.00 and gave the stock an “outperform” rating in a report on Wednesday, May 29th.

Insider Buying and Selling

In other CAVA Group news, CFO Tricia K. Tolivar sold 5,949 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $94.47, for a total value of $562,002.03. Following the completion of the transaction, the chief financial officer now directly owns 297,600 shares in the company, valued at $28,114,272. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other CAVA Group news, CFO Tricia K. Tolivar sold 5,949 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $94.47, for a total transaction of $562,002.03. Following the sale, the chief financial officer now directly owns 297,600 shares of the company’s stock, valued at $28,114,272. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronald M. Shaich sold 1,231,979 shares of CAVA Group stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $87.25, for a total transaction of $107,490,167.75. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $436,250. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,420,564 shares of company stock worth $124,690,835.

Hedge Funds Weigh In On CAVA Group

Institutional investors have recently bought and sold shares of the business. Montag A & Associates Inc. bought a new position in shares of CAVA Group during the 4th quarter worth approximately $26,000. Jamison Private Wealth Management Inc. acquired a new position in shares of CAVA Group in the second quarter valued at $28,000. CWM LLC raised its position in shares of CAVA Group by 101.2% in the first quarter. CWM LLC now owns 505 shares of the company’s stock valued at $35,000 after purchasing an additional 254 shares during the period. Mather Group LLC. acquired a new stake in shares of CAVA Group during the 2nd quarter worth about $45,000. Finally, SOA Wealth Advisors LLC. bought a new stake in shares of CAVA Group during the 2nd quarter worth about $46,000. Institutional investors and hedge funds own 73.15% of the company’s stock.

CAVA Group Stock Up 2.8 %

CAVA stock opened at $82.54 on Friday. CAVA Group has a twelve month low of $29.05 and a twelve month high of $98.69. The company has a market cap of $9.41 billion and a P/E ratio of 201.32. The business’s fifty day moving average is $87.59 and its 200-day moving average is $68.79.

CAVA Group (NYSE:CAVA) last released its earnings results on Tuesday, May 28th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.08. The firm had revenue of $259.01 million for the quarter, compared to analyst estimates of $246.02 million. CAVA Group had a return on equity of 5.18% and a net margin of 3.75%. The company’s revenue was up 27.5% compared to the same quarter last year. Research analysts anticipate that CAVA Group will post 0.34 earnings per share for the current fiscal year.

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.