CAVA Group, Inc. (NYSE:CAVA) Receives Average Rating of “Moderate Buy” from Analysts

CAVA Group, Inc. (NYSE:CAVA) has been assigned a consensus rating of “Moderate Buy” from the twenty-eight research firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation, sixteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $93.1852.

A number of equities research analysts recently commented on the company. KeyCorp upped their target price on CAVA Group from $95.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, April 20th. Royal Bank Of Canada upped their price objective on shares of CAVA Group from $100.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, May 20th. Argus set a $92.00 price objective on shares of CAVA Group in a research note on Friday, May 22nd. Stifel Nicolaus raised their target price on shares of CAVA Group from $90.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, May 20th. Finally, Robert W. Baird boosted their target price on shares of CAVA Group from $88.00 to $98.00 and gave the company an “outperform” rating in a research report on Wednesday, May 20th.

CAVA Group Price Performance

Shares of CAVA stock opened at $77.47 on Monday. The firm has a market capitalization of $9.02 billion, a price-to-earnings ratio of 148.99, a price-to-earnings-growth ratio of 5.32 and a beta of 1.70. The business has a fifty day moving average of $84.37 and a 200 day moving average of $70.92. CAVA Group has a 1 year low of $43.41 and a 1 year high of $98.79.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Tuesday, May 19th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.03. The business had revenue of $438.27 million for the quarter, compared to the consensus estimate of $360.89 million. CAVA Group had a return on equity of 7.92% and a net margin of 4.79%.The company’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.22 EPS. As a group, equities research analysts expect that CAVA Group will post 0.55 earnings per share for the current year.

Insider Activity

In other news, CAO Adam David Phillips sold 5,181 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $77.14, for a total value of $399,662.34. Following the completion of the transaction, the chief accounting officer owned 9,505 shares of the company’s stock, valued at $733,215.70. The trade was a 35.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Theodoros Xenohristos sold 9,044 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $79.75, for a total value of $721,259.00. Following the completion of the sale, the insider owned 327,882 shares in the company, valued at $26,148,589.50. The trade was a 2.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 24,235 shares of company stock valued at $1,920,420 in the last quarter. 6.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CAVA Group

Several hedge funds have recently bought and sold shares of CAVA. Amundi increased its holdings in shares of CAVA Group by 578.4% during the 1st quarter. Amundi now owns 290,281 shares of the company’s stock valued at $23,484,000 after purchasing an additional 247,489 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of CAVA Group by 60.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,040 shares of the company’s stock valued at $84,000 after purchasing an additional 393 shares during the period. California State Teachers Retirement System boosted its holdings in CAVA Group by 25.2% during the first quarter. California State Teachers Retirement System now owns 110,842 shares of the company’s stock worth $8,967,000 after buying an additional 22,322 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in CAVA Group by 123.0% during the first quarter. Quantinno Capital Management LP now owns 76,126 shares of the company’s stock worth $6,159,000 after buying an additional 41,986 shares in the last quarter. Finally, Blue Chip Partners LLC grew its position in CAVA Group by 46.3% during the first quarter. Blue Chip Partners LLC now owns 9,822 shares of the company’s stock valued at $795,000 after buying an additional 3,107 shares during the period. Hedge funds and other institutional investors own 73.15% of the company’s stock.

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.