TD Securities Reiterates “Buy” Rating for CAVA Group (NYSE:CAVA)

CAVA Group (NYSE:CAVA)‘s stock had its “buy” rating restated by investment analysts at TD Securities in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $120.00 price objective on the stock. TD Securities’ target price would suggest a potential upside of 23.68% from the company’s previous close.

A number of other research analysts have also weighed in on CAVA. JPMorgan Chase & Co. raised shares of CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 price target on the stock in a research note on Thursday, March 20th. UBS Group dropped their price objective on shares of CAVA Group from $125.00 to $112.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Piper Sandler raised shares of CAVA Group from a “neutral” rating to an “overweight” rating and cut their price objective for the company from $142.00 to $115.00 in a research report on Friday, February 28th. Sanford C. Bernstein upgraded CAVA Group from a “market perform” rating to an “outperform” rating and set a $115.00 target price for the company in a report on Wednesday, April 23rd. Finally, Citigroup dropped their price target on CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.44.

CAVA Group Trading Down 2.1%

CAVA stock opened at $97.03 on Friday. CAVA Group has a 1-year low of $70.00 and a 1-year high of $172.43. The firm has a market cap of $11.22 billion, a PE ratio of 210.93 and a beta of 3.28. The business’s 50-day moving average price is $88.07 and its two-hundred day moving average price is $111.76.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Thursday, May 15th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.08. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The company had revenue of $331.83 million for the quarter, compared to analyst estimates of $327.98 million. During the same quarter last year, the firm posted $0.12 earnings per share. CAVA Group’s revenue was up 28.1% compared to the same quarter last year. On average, analysts forecast that CAVA Group will post 0.5 earnings per share for the current year.

Insider Activity

In other news, insider Theodoros Xenohristos sold 9,348 shares of the company’s stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $94.88, for a total transaction of $886,938.24. Following the sale, the insider now owns 353,271 shares in the company, valued at $33,518,352.48. This represents a 2.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 6.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CAVA Group

Several hedge funds and other institutional investors have recently made changes to their positions in CAVA. Utah Retirement Systems raised its position in CAVA Group by 2.5% during the fourth quarter. Utah Retirement Systems now owns 4,100 shares of the company’s stock worth $462,000 after acquiring an additional 100 shares in the last quarter. Howard Financial Services LTD. grew its position in shares of CAVA Group by 1.8% in the 4th quarter. Howard Financial Services LTD. now owns 6,194 shares of the company’s stock valued at $699,000 after acquiring an additional 109 shares during the period. Whittier Trust Co. increased its stake in shares of CAVA Group by 80.9% during the 4th quarter. Whittier Trust Co. now owns 284 shares of the company’s stock worth $32,000 after purchasing an additional 127 shares during the last quarter. Mainstream Capital Management LLC raised its holdings in shares of CAVA Group by 0.7% in the 4th quarter. Mainstream Capital Management LLC now owns 17,758 shares of the company’s stock valued at $2,003,000 after purchasing an additional 132 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in shares of CAVA Group by 37.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 530 shares of the company’s stock valued at $46,000 after purchasing an additional 144 shares during the period. 73.15% of the stock is owned by institutional investors.

About CAVA Group

CAVA Group, Inc owns and operates a chain of restaurants under the CAVA brand in the United States. The company also offers dips, spreads, and dressings through grocery stores. In addition, the company provides online and mobile ordering platforms. Cava Group, Inc was founded in 2006 and is headquartered in Washington, the District of Columbia.