Citigroup Boosts CAVA Group (NYSE:CAVA) Price Target to $163.00

CAVA Group (NYSE:CAVA) had its target price boosted by equities research analysts at Citigroup from $140.00 to $163.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price target would suggest a potential upside of 17.87% from the company’s previous close.

Other analysts also recently issued reports about the stock. JPMorgan Chase & Co. lifted their price target on shares of CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday. Loop Capital raised their price target on CAVA Group from $80.00 to $122.00 and gave the company a “hold” rating in a report on Monday, August 26th. TD Securities upped their price objective on CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Argus raised their target price 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. Finally, UBS Group started coverage on shares of CAVA Group in a research report on Friday, September 27th. They issued a “neutral” rating and a $135.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $140.14.

CAVA Group Stock Down 6.1 %

Shares of CAVA Group stock opened at $138.29 on Wednesday. CAVA Group has a 52 week low of $31.47 and a 52 week high of $172.43. The stock’s 50-day simple moving average is $130.75 and its 200-day simple moving average is $103.50. The company has a market capitalization of $15.81 billion, a price-to-earnings ratio of 298.04 and a beta of 3.23.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.04. The business had revenue of $243.82 million during the quarter, compared to the consensus estimate of $233.05 million. CAVA Group had a return on equity of 9.23% and a net margin of 5.88%. The firm’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.06 EPS. On average, equities analysts expect that CAVA Group will post 0.44 earnings per share for the current year.

Insider Activity

In related news, CFO Tricia K. Tolivar sold 5,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 292,600 shares in the company, valued at approximately $36,762,264. The trade was a 1.68 % 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. Also, Director Theodoros Xenohristos sold 98,490 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.77, for a total value of $12,387,087.30. Following the transaction, the director now owns 424,846 shares in the company, valued at $53,432,881.42. The trade was a 18.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 304,994 shares of company stock valued at $38,310,084. 12.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CAVA Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted 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 worth $346,330,000 after acquiring an additional 3,377,840 shares during the period. Capital Research Global Investors boosted its stake in shares of CAVA Group by 21.6% during the first quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock valued at $372,059,000 after purchasing an additional 942,054 shares in the last quarter. Renaissance Technologies LLC increased its holdings in CAVA Group by 102.5% during the second quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock valued at $82,770,000 after buying an additional 451,800 shares during the period. Charles Schwab Investment Management Inc. raised its stake in CAVA Group by 262.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock worth $63,918,000 after buying an additional 373,835 shares in the last quarter. Finally, Eagle Asset Management Inc. lifted its holdings in CAVA Group by 233.4% during the third quarter. Eagle Asset Management Inc. now owns 398,991 shares of the company’s stock worth $49,415,000 after buying an additional 279,306 shares during the period. 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.