CAVA Group (NYSE:CAVA) Upgraded at Benchmark

Benchmark upgraded shares of CAVA Group (NYSE:CAVA) to a strong-buy rating in a research report report published on Thursday morning,Zacks.com reports.

Several other equities analysts also recently commented on the stock. Stifel Nicolaus set a $75.00 price target on shares of CAVA Group in a report on Wednesday, November 5th. KeyCorp decreased their price objective on shares of CAVA Group from $85.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Barclays upped their target price on CAVA Group from $52.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 7th. Weiss Ratings reissued a “hold (c)” rating on shares of CAVA Group in a research note on Wednesday, January 21st. Finally, Mizuho boosted their price objective on CAVA Group from $52.00 to $64.00 and gave the company a “neutral” rating in a report on Friday, January 9th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, CAVA Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.50.

CAVA Group Stock Up 8.4%

Shares of CAVA opened at $69.95 on Thursday. The business has a fifty day moving average of $61.28 and a 200 day moving average of $63.42. The company has a market cap of $8.11 billion, a PE ratio of 60.30, a P/E/G ratio of 5.14 and a beta of 2.41. CAVA Group has a 52-week low of $43.41 and a 52-week high of $144.49.

Insider Activity at CAVA Group

In other news, insider Kenneth Robert Bertram sold 3,788 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $50.70, for a total value of $192,051.60. Following the completion of the sale, the insider owned 51,143 shares of the company’s stock, valued at approximately $2,592,950.10. This represents a 6.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kelly Costanza sold 1,707 shares of CAVA Group 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 $106,072.98. Following the transaction, the insider directly owned 119,139 shares in the company, valued at approximately $7,403,297.46. The trade was a 1.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 42,843 shares of company stock worth $2,764,355 over the last quarter. Corporate insiders own 6.80% of the company’s stock.

Institutional Trading of CAVA Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Atlantic Union Bankshares Corp bought a new position in shares of CAVA Group in the 2nd quarter worth $31,000. Cornerstone Planning Group LLC grew its stake in CAVA Group by 378.7% in the third quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock valued at $27,000 after purchasing an additional 356 shares during the last quarter. Whittier Trust Co. raised its holdings in CAVA Group by 60.9% in the second quarter. Whittier Trust Co. now owns 457 shares of the company’s stock worth $38,000 after purchasing an additional 173 shares in the last quarter. Toth Financial Advisory Corp lifted 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 valued at $31,000 after buying an additional 440 shares during the last quarter. Finally, Harbor Investment Advisory LLC lifted its position 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 buying an additional 400 shares during the last quarter. Institutional investors own 73.15% of the company’s stock.

About CAVA Group

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.