CAVA Group (NYSE:CAVA) Rating Increased to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of CAVA Group (NYSE:CAVA) from a neutral rating to an overweight rating in a research note published on Thursday, Marketbeat.com reports. JPMorgan Chase & Co. currently has $110.00 price target on the stock.

Several other equities research analysts also recently commented on the stock. William Blair reiterated an “outperform” rating on shares of CAVA Group in a research note on Wednesday, February 26th. Piper Sandler upgraded shares of CAVA Group from a “neutral” rating to an “overweight” rating and decreased their target price for the company from $142.00 to $115.00 in a research report on Friday, February 28th. Barclays cut their price objective on shares of CAVA Group from $127.00 to $104.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Loop Capital cut their price objective on shares of CAVA Group from $147.00 to $100.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $150.00 price objective on shares of CAVA Group in a report on Wednesday, February 26th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.47.

CAVA Group Stock Down 1.3 %

Shares of CAVA stock opened at $83.59 on Thursday. The firm has a market cap of $9.66 billion, a price-to-earnings ratio of 181.71 and a beta of 3.58. CAVA Group has a 52-week low of $58.22 and a 52-week high of $172.43. The company’s 50 day moving average is $110.68 and its 200 day moving average is $122.96.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $227.40 million during the quarter, compared to analyst estimates of $223.34 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. Analysts anticipate that CAVA Group will post 0.5 EPS for the current fiscal year.

Insider Buying and Selling

In other CAVA Group news, insider Kenneth Robert Bertram sold 678 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $124.39, for a total value of $84,336.42. Following the transaction, the insider now directly owns 57,312 shares in the company, valued at $7,129,039.68. The trade was a 1.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Theodoros Xenohristos sold 851 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $101,422.18. Following the completion of the transaction, the insider now owns 358,995 shares in the company, valued at $42,785,024.10. The trade was a 0.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,235 shares of company stock worth $3,514,101. 12.10% of the stock is owned by insiders.

Hedge Funds Weigh In On CAVA Group

Several institutional investors and hedge funds have recently bought and sold shares of CAVA. Conway Capital Management Inc. acquired a new position in shares of CAVA Group in the 3rd quarter worth approximately $5,524,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of CAVA Group by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 527,868 shares of the company’s stock worth $59,544,000 after acquiring an additional 11,776 shares during the last quarter. Entropy Technologies LP acquired a new position in shares of CAVA Group in the 4th quarter worth approximately $2,097,000. Empowered Funds LLC acquired a new position in shares of CAVA Group in the 4th quarter worth approximately $5,007,000. Finally, Legacy Capital Wealth Partners LLC lifted its holdings in shares of CAVA Group by 71.9% in the 4th quarter. Legacy Capital Wealth Partners LLC now owns 13,658 shares of the company’s stock worth $1,541,000 after acquiring an additional 5,712 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

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.