CAVA Group (NYSE:CAVA) Rating Increased to Strong-Buy at Telsey Advisory Group

Telsey Advisory Group upgraded shares of CAVA Group (NYSE:CAVA) to a strong-buy rating in a research report sent to investors on Friday morning, Marketbeat reports.

Several other research firms have also recently commented on CAVA. Weiss Ratings reiterated a “hold (c)” rating on shares of CAVA Group in a research note on Wednesday, October 8th. Royal Bank Of Canada set a $70.00 target price on CAVA Group in a research report on Wednesday, November 5th. Argus reduced their target price on CAVA Group from $76.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Johnson Rice set a $72.00 price target on shares of CAVA Group in a research note on Monday. Finally, Citigroup reaffirmed a “neutral” rating on shares of CAVA Group in a report on Wednesday, November 12th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $81.83.

CAVA Group Trading Up 1.8%

CAVA opened at $70.82 on Friday. CAVA Group has a twelve month low of $43.41 and a twelve month high of $144.49. The firm has a market cap of $8.21 billion, a price-to-earnings ratio of 61.05, a PEG ratio of 3.54 and a beta of 2.41. The company has a fifty day simple moving average of $54.07 and a 200 day simple moving average of $66.22.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The firm had revenue of $292.24 million during 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 business’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.15 EPS. On average, analysts forecast that CAVA Group will post 0.5 earnings per share for the current fiscal year.

Insider Buying and Selling at CAVA Group

In other news, insider Kenneth Robert Bertram sold 3,788 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider directly owned 51,143 shares in the company, valued at approximately $2,592,950.10. The trade was a 6.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 6.80% of the company’s stock.

Institutional Trading of CAVA Group

Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC lifted its position in shares of CAVA Group by 74.2% in the 4th quarter. SG Americas Securities LLC now owns 32,817 shares of the company’s stock worth $1,926,000 after buying an additional 13,977 shares during the last quarter. Diversified Trust Co. grew its position in shares of CAVA Group by 76.1% during the 4th quarter. Diversified Trust Co. now owns 21,360 shares of the company’s stock valued at $1,254,000 after buying an additional 9,233 shares during the last quarter. Wedmont Private Capital acquired a new stake in CAVA Group during the fourth quarter worth about $278,000. Harbor Investment Advisory LLC raised its stake in CAVA Group by 347.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock worth $30,000 after acquiring an additional 400 shares during the period. Finally, Norman Fields Gottscho Capital Management LLC bought a new position in CAVA Group in the fourth quarter worth about $1,699,000. 73.15% of the stock is owned by institutional investors and hedge funds.

About CAVA Group

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.