CAVA Group (NYSE:CAVA) Now Covered by Guggenheim

Stock analysts at Guggenheim initiated coverage on shares of CAVA Group (NYSE:CAVA) in a report released on Thursday. The firm set a “buy” rating and a $100.00 price target on the stock. Guggenheim’s target price indicates a potential upside of 24.53% from the company’s current price.

Several other analysts have also recently commented on CAVA. Telsey Advisory Group lifted their price objective on shares of CAVA Group from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Sanford C. Bernstein boosted their target price on shares of CAVA Group from $75.00 to $84.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. Barclays increased their price target on CAVA Group from $52.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 7th. Argus reissued a “hold” rating on shares of CAVA Group in a report on Friday, February 27th. Finally, UBS Group upped their target price on CAVA Group from $69.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, CAVA Group presently has an average rating of “Moderate Buy” and an average price target of $84.68.

CAVA Group Stock Performance

CAVA Group stock opened at $80.30 on Thursday. The business’s 50-day simple moving average is $73.25 and its two-hundred day simple moving average is $63.56. The company has a market cap of $9.35 billion, a PE ratio of 148.70, a PEG ratio of 7.20 and a beta of 2.16. CAVA Group has a fifty-two week low of $43.41 and a fifty-two week high of $101.50.

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

Insider Buying and Selling

In related news, insider Kenneth Robert Bertram sold 994 shares of the stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total value of $61,767.16. Following the completion of the transaction, the insider directly owned 49,122 shares of the company’s stock, valued at approximately $3,052,441.08. This represents a 1.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $48,096.36. Following the completion of the sale, the chief accounting officer owned 10,435 shares of the company’s stock, valued at $648,430.90. This trade represents a 6.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 39,055 shares of company stock worth $2,572,303 in the last 90 days. 6.80% of the stock is owned by insiders.

Institutional Trading of CAVA Group

Large investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC purchased a new position in CAVA Group during the 2nd quarter valued at about $463,000. Liontrust Investment Partners LLP acquired a new stake in shares of CAVA Group during the third quarter worth about $43,189,000. Valeo Financial Advisors LLC purchased a new position in shares of CAVA Group in the second quarter valued at approximately $57,824,000. Renaissance Capital LLC boosted its stake in shares of CAVA Group by 42.7% in the third quarter. Renaissance Capital LLC now owns 105,730 shares of the company’s stock valued at $6,387,000 after purchasing an additional 31,651 shares during the period. Finally, Leibman Financial Services Inc. grew its holdings in shares of CAVA Group by 162.9% in the fourth quarter. Leibman Financial Services Inc. now owns 67,324 shares of the company’s stock valued at $3,951,000 after purchasing an additional 41,712 shares in the last quarter. 73.15% of the stock is currently owned by hedge funds and other 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.