TD Cowen Boosts CAVA Group (NYSE:CAVA) Price Target to $100.00

CAVA Group (NYSE:CAVA) had its price target upped by research analysts at TD Cowen from $90.00 to $100.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s target price indicates a potential upside of 24.44% from the company’s current price.

Other equities analysts have also issued reports about the company. Johnson Rice set a $72.00 target price on CAVA Group in a research report on Monday, January 5th. Mizuho boosted their price target on shares of CAVA Group from $72.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday. Royal Bank Of Canada upped their price objective on shares of CAVA Group from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Morgan Stanley raised their price objective on shares of CAVA Group from $80.00 to $83.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 25th. Finally, Piper Sandler lifted their price objective on shares of CAVA Group from $71.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $85.92.

CAVA Group Price Performance

Shares of CAVA opened at $80.36 on Thursday. The stock has a 50-day moving average of $74.06 and a 200-day moving average of $64.04. The company has a market cap of $9.35 billion, a PE ratio of 148.82, a P/E/G ratio of 6.90 and a beta of 2.02. CAVA Group has a one year low of $43.41 and a one year high of $101.50.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. CAVA Group had a return on equity of 8.43% and a net margin of 5.40%.The business had revenue of $274.99 million for the quarter, compared to the consensus estimate of $268.04 million. During the same period in the prior year, the business earned $0.05 EPS. The firm’s revenue for the quarter was up 20.9% on a year-over-year basis. Analysts expect that CAVA Group will post 0.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Adam David Phillips sold 774 shares of the stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total value of $48,096.36. Following the completion of the sale, the chief accounting officer owned 10,435 shares in the company, valued at $648,430.90. This represents a 6.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brett Schulman sold 4,542 shares of the firm’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $282,239.88. Following the transaction, the chief executive officer directly owned 802,783 shares in the company, valued at $49,884,935.62. The trade was a 0.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 39,055 shares of company stock worth $2,572,303 in the last three months. 6.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CAVA Group

Institutional investors have recently added to or reduced their stakes in the company. Capital International Investors lifted its position in shares of CAVA Group by 105.4% during the 3rd quarter. Capital International Investors now owns 4,228,736 shares of the company’s stock worth $255,451,000 after buying an additional 2,169,553 shares in the last quarter. William Blair Investment Management LLC bought a new position in shares of CAVA Group in the third quarter valued at approximately $114,098,000. Capital Research Global Investors increased its position in shares of CAVA Group by 27.2% during the fourth quarter. Capital Research Global Investors now owns 8,440,040 shares of the company’s stock valued at $495,344,000 after acquiring an additional 1,805,174 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in CAVA Group by 118.3% during the third quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company’s stock worth $178,432,000 after acquiring an additional 1,600,630 shares during the period. Finally, Marshall Wace LLP lifted its holdings in CAVA Group by 689.8% during the fourth quarter. Marshall Wace LLP now owns 1,387,774 shares of the company’s stock worth $81,448,000 after acquiring an additional 1,212,068 shares during the period. 73.15% of the stock is owned by institutional investors.

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.