CAVA Group, Inc. (NYSE:CAVA) Receives $81.00 Average Target Price from Brokerages

Shares of CAVA Group, Inc. (NYSE:CAVA) have earned an average recommendation of “Moderate Buy” from the twenty-four brokerages that are presently covering the stock, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $81.00.

A number of brokerages have weighed in on CAVA. Piper Sandler decreased their target price on CAVA Group from $100.00 to $71.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Royal Bank Of Canada set a $70.00 price objective on shares of CAVA Group in a research note on Wednesday, November 5th. Stifel Nicolaus set a $75.00 target price on shares of CAVA Group in a report on Wednesday, November 5th. Morgan Stanley set a $86.00 price target on shares of CAVA Group in a report on Wednesday, November 5th. Finally, KeyCorp dropped their price objective on shares of CAVA Group from $85.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th.

Insider Transactions at CAVA Group

In other news, insider Kenneth Robert Bertram sold 3,788 shares of CAVA Group stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $50.70, for a total value of $192,051.60. Following the transaction, the insider directly owned 51,143 shares in the company, valued at approximately $2,592,950.10. This trade represents a 6.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

Institutional investors have recently added to or reduced their stakes in the stock. Cornerstone Planning Group LLC raised its holdings in CAVA Group by 378.7% in the third quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock worth $27,000 after purchasing an additional 356 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of CAVA Group in the 2nd quarter valued at about $31,000. Toth Financial Advisory Corp grew its position in shares of CAVA Group by 656.7% in the 3rd quarter. Toth Financial Advisory Corp now owns 507 shares of the company’s stock worth $31,000 after buying an additional 440 shares during the last quarter. Western Pacific Wealth Management LP bought a new position in shares of CAVA Group during the 3rd quarter worth approximately $33,000. Finally, CNB Bank lifted its position in CAVA Group by 275.8% during the third quarter. CNB Bank now owns 575 shares of the company’s stock valued at $35,000 after acquiring an additional 422 shares during the last quarter. Institutional investors own 73.15% of the company’s stock.

CAVA Group Price Performance

CAVA Group stock opened at $60.15 on Friday. The stock has a market cap of $6.98 billion, a price-to-earnings ratio of 51.85, a price-to-earnings-growth ratio of 3.39 and a beta of 2.51. The firm has a 50-day moving average of $53.64 and a two-hundred day moving average of $66.92. CAVA Group has a 1 year low of $43.41 and a 1 year high of $144.49.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). The company had revenue of $292.24 million for the quarter, compared to the consensus estimate of $292.88 million. CAVA Group had a net margin of 12.14% and a return on equity of 8.88%. The business’s revenue was up 19.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.15 EPS. Research analysts expect that CAVA Group will post 0.5 earnings per share for the current year.

CAVA Group Company Profile

CAVA Group, Inc (NYSE: CAVA) is a leading fast-casual restaurant company specializing in Mediterranean-inspired cuisine. Operating under the CAVA brand, the company offers customizable bowls, pitas and salads built around a variety of proteins, grains, fresh vegetables and house-made spreads. With a focus on high-quality ingredients and made-to-order preparation, CAVA aims to deliver a casual yet elevated dining experience for dine-in, takeout and catering customers.

Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe’s Kitchen.