CAVA Group (NYSE:CAVA) Stock Price Up 5.1% – Here’s What Happened

by · The Markets Daily

CAVA Group, Inc. (NYSE:CAVA – Get Free Report)’s stock price shot up 5.1% during mid-day trading on Friday . The company traded as high as $55.60 and last traded at $55.3450. 2,184,092 shares were traded during trading, a decline of 45% from the average session volume of 3,953,928 shares. The stock had previously closed at $52.65.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Barclays dropped their price objective on shares of CAVA Group from $64.00 to $52.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th. Stifel Nicolaus set a $75.00 price target on shares of CAVA Group in a research note on Wednesday, November 5th. Citigroup reaffirmed a “neutral” rating on shares of CAVA Group in a research report on Wednesday, November 12th. Truist Financial upgraded CAVA Group to a “strong-buy” rating in a report on Tuesday. Finally, Morgan Stanley set a $86.00 price target on CAVA Group in a report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, CAVA Group presently has a consensus rating of “Moderate Buy” and an average target price of $81.00.

View Our Latest Stock Report on CAVA Group

CAVA Group Price Performance

The firm has a 50 day moving average of $55.10 and a two-hundred day moving average of $68.92. The stock has a market cap of $6.34 billion, a PE ratio of 47.15, a PEG ratio of 3.00 and a beta of 2.51.

CAVA Group (NYSE:CAVA – Get Free Report) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The company had revenue of $292.24 million for the quarter, compared to analyst estimates of $292.88 million. CAVA Group had a return on equity of 8.88% and a net margin of 12.14%.The firm’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.15 EPS. As a group, equities analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Kenneth Robert Bertram sold 3,788 shares of the business’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $50.70, for a total value of $192,051.60. Following the completion of the sale, the insider directly owned 51,143 shares of the company’s stock, valued at $2,592,950.10. The trade was a 6.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.80% of the stock is owned by corporate insiders.

Institutional Trading of CAVA Group

A number of large investors have recently bought and sold shares of CAVA. Dagco Inc. acquired a new position in CAVA Group in the first quarter valued at $27,000. Atlantic Union Bankshares Corp acquired a new stake in shares of CAVA Group during the second quarter worth about $31,000. Brooklyn Investment Group grew its holdings in shares of CAVA Group by 168.0% during the first quarter. Brooklyn Investment Group now owns 402 shares of the company’s stock worth $35,000 after buying an additional 252 shares during the last quarter. Cornerstone Planning Group LLC increased its position in CAVA Group by 378.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock valued at $27,000 after acquiring an additional 356 shares during the period. Finally, Fifth Third Bancorp acquired a new position in CAVA Group in the 2nd quarter valued at about $38,000. Institutional investors and hedge funds own 73.15% of the company’s stock.

About CAVA Group

(Get Free Report)

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.

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