CAVA Group (NYSE:CAVA) Hits New 52-Week High at $75.96

CAVA Group, Inc. (NYSE:CAVA)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $75.96 and last traded at $75.92, with a volume of 795818 shares traded. The stock had previously closed at $72.17.

Analysts Set New Price Targets

Several research firms recently weighed in on CAVA. Wedbush increased their target price on shares of CAVA Group from $65.00 to $74.00 and gave the company an “outperform” rating in a research note on Tuesday, April 16th. Argus upgraded shares of CAVA Group from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research note on Wednesday, April 10th. Robert W. Baird upped their price objective on CAVA Group from $54.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Morgan Stanley raised their target price on CAVA Group from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Finally, Barclays started coverage on CAVA Group in a research note on Monday, April 15th. They set an “equal weight” rating and a $58.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, CAVA Group presently has an average rating of “Moderate Buy” and an average target price of $60.42.

CAVA Group Stock Performance

The business has a 50-day moving average price of $64.78 and a two-hundred day moving average price of $49.54.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Monday, February 26th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $175.50 million for the quarter, compared to analysts’ expectations of $240.03 million. CAVA Group had a net margin of 1.82% and a return on equity of 4.28%. The firm’s revenue was up 52.6% on a year-over-year basis. On average, research analysts forecast that CAVA Group, Inc. will post 0.25 EPS for the current year.

Insider Buying and Selling at CAVA Group

In other news, Director Theodoros Xenohristos sold 47,239 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $68.29, for a total transaction of $3,225,951.31. Following the completion of the transaction, the director now directly owns 526,521 shares in the company, valued at approximately $35,956,119.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Theodoros Xenohristos sold 47,239 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $68.29, for a total value of $3,225,951.31. Following the completion of the transaction, the director now owns 526,521 shares of the company’s stock, valued at approximately $35,956,119.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director International S.C.A. Artal sold 2,000,000 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $66.25, for a total transaction of $132,500,000.00. Following the completion of the sale, the director now owns 26,507,990 shares of the company’s stock, valued at approximately $1,756,154,337.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,547,239 shares of company stock valued at $221,525,951.

Institutional Investors Weigh In On CAVA Group

Several institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. acquired a new stake in shares of CAVA Group in the first quarter valued at approximately $6,532,000. Legacy Capital Group California Inc. bought a new position in CAVA Group in the first quarter valued at $1,402,000. Sei Investments Co. increased its stake in CAVA Group by 70.6% in the 1st quarter. Sei Investments Co. now owns 35,784 shares of the company’s stock valued at $2,507,000 after buying an additional 14,811 shares during the last quarter. Montag A & Associates Inc. increased its stake in CAVA Group by 66.7% in the 1st quarter. Montag A & Associates Inc. now owns 1,000 shares of the company’s stock valued at $70,000 after buying an additional 400 shares during the last quarter. Finally, Swiss National Bank lifted its position in CAVA Group by 50.2% during the 1st quarter. Swiss National Bank now owns 67,300 shares of the company’s stock worth $4,714,000 after buying an additional 22,500 shares in the last quarter. 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.