Robert W. Baird Increases CAVA Group (NYSE:CAVA) Price Target to $148.00

CAVA Group (NYSE:CAVA) had its price objective hoisted by equities research analysts at Robert W. Baird from $125.00 to $148.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 11.60% from the company’s previous close.

Several other equities analysts have also issued reports on CAVA. Argus lifted their price objective on shares of CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Loop Capital boosted their price target on CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a research report on Monday, August 26th. Morgan Stanley downgraded CAVA Group from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $90.00 to $110.00 in a research report on Thursday, August 29th. Stifel Nicolaus lifted their target price on CAVA Group from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Finally, UBS Group assumed coverage on shares of CAVA Group in a research report on Friday, September 27th. They set a “neutral” rating and a $135.00 price target for the company. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, CAVA Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.36.

CAVA Group Trading Up 0.4 %

Shares of CAVA stock opened at $132.62 on Monday. CAVA Group has a twelve month low of $29.66 and a twelve month high of $141.25. The stock has a fifty day simple moving average of $127.06 and a two-hundred day simple moving average of $100.33. The stock has a market capitalization of $15.16 billion, a price-to-earnings ratio of 358.43 and a beta of 3.23.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Thursday, August 22nd. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. The company had revenue of $233.50 million during the quarter, compared to analyst estimates of $219.47 million. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. The firm’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 earnings per share. Research analysts predict that CAVA Group will post 0.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Brett Schulman sold 201,504 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.53, for a total value of $25,294,797.12. Following the transaction, the chief executive officer now directly owns 702,590 shares of the company’s stock, valued at approximately $88,196,122.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Theodoros Xenohristos sold 98,490 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the completion of the transaction, the director now owns 424,846 shares of the company’s stock, valued at $53,432,881.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brett Schulman sold 201,504 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the completion of the sale, the chief executive officer now directly owns 702,590 shares in the company, valued at approximately $88,196,122.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 304,994 shares of company stock valued at $38,310,084. 12.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On CAVA Group

A number of institutional investors have recently modified their holdings of CAVA. Victory Capital Management Inc. grew its stake in shares of CAVA Group by 74.1% during the 3rd quarter. Victory Capital Management Inc. now owns 20,354 shares of the company’s stock worth $2,521,000 after purchasing an additional 8,660 shares during the period. Aigen Investment Management LP purchased a new stake in CAVA Group during the third quarter worth $1,293,000. Rakuten Securities Inc. grew its position in CAVA Group by 235.3% during the third quarter. Rakuten Securities Inc. now owns 1,234 shares of the company’s stock valued at $153,000 after buying an additional 866 shares during the period. First National Trust Co purchased a new position in CAVA Group in the third quarter valued at $248,000. Finally, State of New Jersey Common Pension Fund D raised its position in shares of CAVA Group by 3.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 21,862 shares of the company’s stock worth $2,708,000 after acquiring an additional 766 shares during the period. Hedge funds and other institutional investors 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.