CAVA Group (NYSE:CAVA) Now Covered by Analysts at DA Davidson

DA Davidson started coverage on shares of CAVA Group (NYSE:CAVA) in a report published on Friday, MarketBeat reports. The firm issued a neutral rating and a $80.00 price objective on the stock.

Several other analysts have also issued reports on the company. Argus reissued a “hold” rating on shares of CAVA Group in a report on Friday, February 27th. Morgan Stanley raised their target price on shares of CAVA Group from $80.00 to $83.00 and gave the company an “equal weight” rating in a report on Wednesday, February 25th. Royal Bank Of Canada upped their price target 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. Truist Financial lifted their price objective on shares of CAVA Group from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Finally, Citigroup boosted their price objective on shares of CAVA Group from $74.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.65.

CAVA Group Trading Down 0.8%

NYSE CAVA traded down $0.63 during trading on Friday, reaching $78.74. The company’s stock had a trading volume of 3,194,428 shares, compared to its average volume of 4,142,002. The firm has a 50 day moving average price of $68.23 and a 200 day moving average price of $62.05. CAVA Group has a 12 month low of $43.41 and a 12 month high of $101.50. The firm has a market capitalization of $9.16 billion, a price-to-earnings ratio of 145.82, a price-to-earnings-growth ratio of 6.83 and a beta of 2.16.

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

Insider Buying and Selling

In related news, insider Kelly Costanza sold 1,707 shares of the stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total value of $106,072.98. Following the completion of the transaction, the insider owned 119,139 shares of the company’s stock, valued at $7,403,297.46. This represents a 1.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Adam David Phillips sold 774 shares of the firm’s stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction 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 position. 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 quarter. Corporate insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Los Angeles Capital Management LLC acquired a new stake in shares of CAVA Group during the 4th quarter valued at $25,000. Cornerstone Planning Group LLC increased its holdings in CAVA Group by 378.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock worth $27,000 after purchasing an additional 356 shares in the last quarter. Harbor Investment Advisory LLC raised its position in CAVA Group by 347.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock valued at $30,000 after purchasing an additional 400 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new stake in shares of CAVA Group during the second quarter valued at about $31,000. Finally, Toth Financial Advisory Corp boosted its stake in shares of CAVA Group by 656.7% during the third quarter. Toth Financial Advisory Corp now owns 507 shares of the company’s stock valued at $31,000 after purchasing an additional 440 shares in the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

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.