CAVA Group, Inc. (NYSE:CAVA) Receives $56.50 Average PT from Analysts

Shares of CAVA Group, Inc. (NYSE:CAVA) have earned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $60.42.

Several equities research analysts have recently weighed in on CAVA shares. William Blair reaffirmed an “outperform” rating on shares of CAVA Group in a report on Tuesday, February 27th. Barclays assumed coverage on shares of CAVA Group in a research note on Monday. They issued an “equal weight” rating and a $58.00 target price for the company. Robert W. Baird increased their price target on CAVA Group from $54.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. TD Cowen reaffirmed a “buy” rating and set a $63.00 price target on shares of CAVA Group in a report on Wednesday, April 10th. Finally, Piper Sandler boosted their price objective on CAVA Group from $46.00 to $63.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th.

Insider Activity

In related news, major shareholder Ronald M. Shaich sold 1,500,000 shares of CAVA Group stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $57.20, for a total value of $85,800,000.00. Following the completion of the sale, the insider now directly owns 4,457,634 shares in the company, valued at $254,976,664.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director International S.C.A. Artal sold 2,000,000 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $66.25, for a total value of $132,500,000.00. Following the transaction, the director now owns 26,507,990 shares of the company’s stock, valued at approximately $1,756,154,337.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Ronald M. Shaich sold 1,500,000 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $57.20, for a total value of $85,800,000.00. Following the completion of the transaction, the insider now owns 4,457,634 shares in the company, valued at $254,976,664.80. The disclosure for this sale can be found here. Insiders have sold 3,547,239 shares of company stock valued at $221,525,951 over the last 90 days.

Hedge Funds Weigh In On CAVA Group

Several hedge funds have recently added to or reduced their stakes in CAVA. Public Employees Retirement System of Ohio boosted its position in shares of CAVA Group by 2.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 6,763 shares of the company’s stock worth $291,000 after purchasing an additional 185 shares in the last quarter. CWM LLC raised its stake in CAVA Group by 101.2% during the 1st quarter. CWM LLC now owns 505 shares of the company’s stock worth $35,000 after buying an additional 254 shares during the period. PNC Financial Services Group Inc. raised its stake in CAVA Group by 190.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock worth $27,000 after buying an additional 570 shares during the period. Nuveen Asset Management LLC lifted its holdings in CAVA Group by 1.4% during the fourth quarter. Nuveen Asset Management LLC now owns 42,679 shares of the company’s stock worth $1,834,000 after acquiring an additional 570 shares in the last quarter. Finally, Montag A & Associates Inc. acquired a new position in CAVA Group in the fourth quarter valued at about $26,000. Institutional investors and hedge funds own 73.15% of the company’s stock.

CAVA Group Trading Up 1.7 %

CAVA stock opened at $62.83 on Wednesday. CAVA Group has a 1-year low of $29.05 and a 1-year high of $71.60. The business’s 50 day moving average is $60.49 and its 200-day moving average is $45.72.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Monday, February 26th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. CAVA Group had a return on equity of 4.28% and a net margin of 1.82%. The business had revenue of $175.50 million for the quarter, compared to analyst estimates of $240.03 million. The business’s quarterly revenue was up 52.6% on a year-over-year basis. On average, analysts forecast that CAVA Group will post 0.24 earnings per share for the current year.

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.