CAVA Group (NYSE:CAVA) Now Covered by Analysts at BNP Paribas Exane

Equities researchers at BNP Paribas Exane began coverage on shares of CAVA Group (NYSE:CAVA) in a report issued on Monday. The firm set a “neutral” rating and a $91.00 price target on the stock. BNP Paribas Exane’s price objective points to a potential upside of 20.58% from the stock’s previous close.

A number of other brokerages also recently weighed in on CAVA. Mizuho lifted their target price on shares of CAVA Group from $52.00 to $64.00 and gave the stock a “neutral” rating in a research note on Friday, January 9th. Piper Sandler upped their price target on shares of CAVA Group from $71.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, February 25th. Johnson Rice set a $72.00 price target on CAVA Group in a report on Monday, January 5th. Wolfe Research started coverage on CAVA Group in a research report on Monday, March 9th. They issued an “outperform” rating and a $93.00 price objective for the company. Finally, Truist Financial boosted their price objective on CAVA Group from $80.00 to $85.00 and gave the company a “buy” rating in a research note 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.92.

CAVA Group Price Performance

Shares of CAVA stock opened at $75.47 on Monday. The stock has a market capitalization of $8.78 billion, a PE ratio of 139.76, a PEG ratio of 6.43 and a beta of 2.15. The business’s 50 day simple moving average is $73.45 and its 200 day simple moving average is $63.72. CAVA Group has a one year low of $43.41 and a one year high of $101.50.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results 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 analyst estimates of $268.04 million. CAVA Group had a net margin of 5.40% and a return on equity of 8.43%. The company’s revenue was up 20.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.05 EPS. As a group, research analysts expect that CAVA Group will post 0.5 earnings per share for the current year.

Insider Buying and Selling at CAVA Group

In other news, insider Kelly Costanza sold 1,707 shares of the company’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 $106,072.98. Following the transaction, the insider owned 119,139 shares in the company, valued at approximately $7,403,297.46. This represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brett Schulman sold 21,650 shares of the stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $67.41, for a total transaction of $1,459,426.50. Following the transaction, the chief executive officer directly owned 807,325 shares in the company, valued at $54,421,778.25. This trade represents a 2.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 39,055 shares of company stock valued at $2,572,303 over the last 90 days. Insiders own 12.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CAVA. Los Angeles Capital Management LLC bought a new position in CAVA Group in the fourth quarter worth approximately $25,000. Cornerstone Planning Group LLC increased its holdings in shares of CAVA Group by 378.7% during the third quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock valued at $27,000 after acquiring an additional 356 shares in the last quarter. Harbor Investment Advisory LLC increased its holdings in shares of 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 acquiring an additional 400 shares in the last quarter. Toth Financial Advisory Corp raised its position 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 worth $31,000 after purchasing an additional 440 shares during the period. Finally, Western Pacific Wealth Management LP acquired a new position in shares of CAVA Group during the third quarter worth approximately $33,000. 73.15% of the stock is 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.