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

CAVA Group, Inc. (NYSE:CAVA) has been assigned a consensus rating of “Moderate Buy” from the twenty-eight brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, eighteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $93.5385.

A number of research firms recently weighed in on CAVA. The Goldman Sachs Group raised their price objective on CAVA Group from $75.00 to $86.00 and gave the company a “neutral” rating in a research report on Monday, April 13th. BNP Paribas Exane began coverage on shares of CAVA Group in a research report on Monday, March 30th. They set a “neutral” rating and a $91.00 price objective on the stock. Telsey Advisory Group lifted their target price on shares of CAVA Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 20th. Mizuho lifted their target price on shares of CAVA Group from $72.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, April 2nd. 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 note on Wednesday, May 20th.

Insider Buying and Selling

In other CAVA Group news, insider Kelly Costanza sold 12,490 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $90.00, for a total value of $1,124,100.00. Following the transaction, the insider owned 98,490 shares of the company’s stock, valued at approximately $8,864,100. This represents a 11.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Adam David Phillips sold 757 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $89.43, for a total value of $67,698.51. Following the completion of the transaction, the chief accounting officer directly owned 6,848 shares in the company, valued at $612,416.64. The trade was a 9.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 91,747 shares of company stock valued at $7,970,838 over the last ninety days. 6.70% of the stock is owned by insiders.

Hedge Funds Weigh In On CAVA Group

Institutional investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC bought a new stake in CAVA Group during the fourth quarter valued at approximately $25,000. Harbor Investment Advisory LLC increased its holdings in CAVA Group by 347.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock valued at $30,000 after buying an additional 400 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in CAVA Group during the second quarter valued at approximately $31,000. TD Private Client Wealth LLC raised its position in CAVA Group by 118.2% in the fourth quarter. TD Private Client Wealth LLC now owns 600 shares of the company’s stock worth $35,000 after acquiring an additional 325 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new position in CAVA Group in the third quarter worth approximately $36,000. Institutional investors own 73.15% of the company’s stock.

CAVA Group Trading Down 7.8%

Shares of CAVA Group stock opened at $63.48 on Tuesday. CAVA Group has a 12 month low of $43.41 and a 12 month high of $98.79. The firm has a market capitalization of $7.39 billion, a P/E ratio of 122.08, a P/E/G ratio of 4.72 and a beta of 1.69. The business has a fifty day simple moving average of $77.65 and a two-hundred day simple moving average of $77.21.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, May 19th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.03. CAVA Group had a net margin of 4.79% and a return on equity of 7.92%. The company had revenue of $438.27 million during the quarter, compared to analyst estimates of $360.89 million. During the same period last year, the business earned $0.22 EPS. CAVA Group’s quarterly revenue was up 32.1% compared to the same quarter last year. Analysts predict that CAVA Group will post 0.55 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.