CAVA Group (NYSE:CAVA) Coverage Initiated by Analysts at Melius

Melius began coverage on shares of CAVA Group (NYSE:CAVA) in a research note published on Monday, MarketBeat Ratings reports. The brokerage issued a hold rating and a $95.00 price target on the stock.

CAVA has been the topic of a number of other research reports. KeyCorp began coverage on CAVA Group in a research note on Wednesday, July 2nd. They set an “overweight” rating and a $100.00 price objective on the stock. JPMorgan Chase & Co. lowered their price objective on CAVA Group from $115.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 25th. Sanford C. Bernstein upgraded CAVA Group from a “market perform” rating to an “outperform” rating and set a $115.00 price objective on the stock in a research note on Wednesday, April 23rd. Stifel Nicolaus lowered their price objective on CAVA Group from $175.00 to $125.00 and set a “buy” rating on the stock in a research note on Wednesday, June 18th. Finally, Robert W. Baird raised their price objective on CAVA Group from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.00.

CAVA Group Stock Performance

Shares of NYSE CAVA opened at $89.96 on Monday. The stock has a 50 day moving average price of $84.37 and a 200 day moving average price of $96.55. CAVA Group has a 52 week low of $70.00 and a 52 week high of $172.43. The stock has a market capitalization of $10.40 billion, a PE ratio of 74.97, a price-to-earnings-growth ratio of 4.32 and a beta of 2.65.

CAVA Group (NYSE:CAVA) last issued its earnings results on Thursday, May 15th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.14 by $0.08. CAVA Group had a return on equity of 10.61% and a net margin of 13.70%. The company had revenue of $331.83 million during the quarter, compared to the consensus estimate of $327.98 million. During the same period in the previous year, the company posted $0.12 EPS. The firm’s revenue for the quarter was up 28.1% compared to the same quarter last year. As a group, research analysts forecast that CAVA Group will post 0.5 EPS for the current year.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, insider Jennifer Somers sold 2,861 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $215,032.76. Following the completion of the transaction, the insider owned 137,048 shares of the company’s stock, valued at $10,300,527.68. This represents a 2.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Theodoros Xenohristos sold 9,348 shares of the stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $94.88, for a total transaction of $886,938.24. Following the completion of the transaction, the insider directly owned 353,271 shares of the company’s stock, valued at approximately $33,518,352.48. The trade was a 2.58% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,951 shares of company stock worth $5,409,027. Insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On CAVA Group

A number of institutional investors have recently modified their holdings of the stock. First Horizon Advisors Inc. increased its holdings in CAVA Group by 1,400.0% during the first quarter. First Horizon Advisors Inc. now owns 285 shares of the company’s stock valued at $25,000 after buying an additional 266 shares during the period. Vision Financial Markets LLC purchased a new position in CAVA Group during the first quarter valued at approximately $26,000. Dagco Inc. purchased a new position in CAVA Group during the first quarter valued at approximately $27,000. Versant Capital Management Inc purchased a new position in CAVA Group during the first quarter valued at approximately $31,000. Finally, Whittier Trust Co. increased its holdings in CAVA Group by 80.9% during the fourth quarter. Whittier Trust Co. now owns 284 shares of the company’s stock valued at $32,000 after buying an additional 127 shares during the period. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Company Profile

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.