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

CAVA Group, Inc. (NYSE:CAVA) has been assigned an average rating of “Moderate Buy” from the twenty-five ratings firms that are presently covering the company, MarketBeat.com reports. Nine analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $81.5652.

A number of analysts recently commented on the company. Telsey Advisory Group initiated coverage on CAVA Group in a report on Friday, January 9th. They set an “outperform” rating and a $85.00 price target on the stock. Sanford C. Bernstein set a $70.00 target price on CAVA Group in a research note on Wednesday, January 7th. UBS Group boosted their price target on shares of CAVA Group from $58.00 to $66.00 and gave the stock a “neutral” rating in a report on Tuesday, January 6th. Johnson Rice set a $72.00 price objective on shares of CAVA Group in a report on Monday, January 5th. Finally, Piper Sandler dropped their target price on shares of CAVA Group from $100.00 to $71.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th.

CAVA Group Price Performance

CAVA opened at $62.68 on Tuesday. CAVA Group has a fifty-two week low of $43.41 and a fifty-two week high of $144.49. The firm has a market capitalization of $7.27 billion, a P/E ratio of 54.03, a PEG ratio of 3.41 and a beta of 2.41. The company’s 50-day moving average is $58.44 and its 200 day moving average is $64.87.

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

Insiders Place Their Bets

In other news, insider Kelly Costanza sold 1,702 shares of the company’s stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $67.41, for a total transaction of $114,731.82. Following the transaction, the insider owned 120,846 shares of the company’s stock, valued at $8,146,228.86. This represents a 1.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brett Schulman sold 21,650 shares of CAVA Group stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $67.41, for a total value of $1,459,426.50. Following the completion of the sale, the chief executive officer directly owned 807,325 shares of the company’s stock, valued at approximately $54,421,778.25. This trade represents a 2.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 31,383 shares of company stock valued at $2,052,231 in the last quarter. 12.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CAVA Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Maryland State Retirement & Pension System raised its holdings in CAVA Group by 37.5% during the 2nd quarter. Maryland State Retirement & Pension System now owns 4,850 shares of the company’s stock valued at $409,000 after acquiring an additional 1,324 shares during the period. Global Retirement Partners LLC purchased a new position in shares of CAVA Group in the second quarter valued at $463,000. Y Intercept Hong Kong Ltd raised its stake in shares of CAVA Group by 271.7% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 23,659 shares of the company’s stock valued at $1,993,000 after purchasing an additional 17,294 shares during the period. Hantz Financial Services Inc. raised its stake in shares of CAVA Group by 1,846,775.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 73,875 shares of the company’s stock valued at $6,222,000 after purchasing an additional 73,871 shares during the period. Finally, Lewis Asset Management LLC purchased a new stake in CAVA Group during the 2nd quarter worth about $504,000. Institutional investors own 73.15% of the company’s stock.

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.