CAVA Group, Inc. (NYSE:CAVA) Given Consensus Rating of “Moderate Buy” by Analysts

CAVA Group, Inc. (NYSE:CAVA) has been given a consensus recommendation of “Moderate Buy” by the fourteen analysts that are covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $60.42.

A number of brokerages have recently issued reports on CAVA. JPMorgan Chase & Co. boosted their target price on shares of CAVA Group from $50.00 to $64.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Morgan Stanley upped their price objective on CAVA Group from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. Argus raised CAVA Group from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Wednesday, April 10th. Citigroup boosted their price target on shares of CAVA Group from $49.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Finally, Barclays started coverage on CAVA Group in a research report on Monday, April 15th. They set an “equal weight” rating and a $58.00 target price on the stock.

CAVA Group Stock Up 1.7 %

CAVA stock opened at $75.39 on Friday. The company has a fifty day moving average price of $65.46 and a two-hundred day moving average price of $49.89. CAVA Group has a one year low of $29.05 and a one year high of $77.14.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Monday, February 26th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $175.50 million during 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 for the quarter was up 52.6% on a year-over-year basis. Research analysts forecast that CAVA Group will post 0.25 EPS for the current year.

Insider Activity at CAVA Group

In related news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $57.20, for a total value of $85,800,000.00. Following the transaction, the insider now owns 4,457,634 shares of the company’s stock, valued at approximately $254,976,664.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Theodoros Xenohristos sold 47,239 shares of CAVA Group stock in a transaction that occurred 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 sale, the director now owns 526,521 shares of the company’s stock, valued at approximately $35,956,119.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ronald M. Shaich sold 1,500,000 shares of CAVA Group stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $57.20, for a total transaction 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 approximately $254,976,664.80. The disclosure for this sale can be found here. In 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

A number of hedge funds have recently modified their holdings of CAVA. Headlands Technologies LLC purchased a new position in CAVA Group in the 3rd quarter valued at approximately $26,000. Montag A & Associates Inc. purchased a new position in shares of CAVA Group during the 4th quarter valued at $26,000. PNC Financial Services Group Inc. grew its position in shares of CAVA Group by 190.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock valued at $27,000 after purchasing an additional 570 shares in the last quarter. Clearstead Advisors LLC purchased a new position in shares of CAVA Group during the 3rd quarter valued at $31,000. Finally, CWM LLC grew its position in shares of CAVA Group by 101.2% during the 1st quarter. CWM LLC now owns 505 shares of the company’s stock valued at $35,000 after purchasing an additional 254 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.