CAVA Group, Inc. (NYSE:CAVA) Given Average Recommendation of “Moderate Buy” by Brokerages

CAVA Group, Inc. (NYSE:CAVA) has been assigned an average recommendation of “Moderate Buy” from the twenty-six research firms that are currently covering the firm, MarketBeat reports. Nine equities research analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $82.0833.

Several equities research analysts recently issued reports on CAVA shares. Benchmark upgraded CAVA Group to a “strong-buy” rating in a report on Thursday, February 5th. Telsey Advisory Group began coverage on shares of CAVA Group in a report on Friday, January 9th. They issued an “outperform” rating and a $85.00 target price for the company. Piper Sandler dropped their price target on shares of CAVA Group from $100.00 to $71.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Stifel Nicolaus set a $75.00 price objective on shares of CAVA Group in a research report on Wednesday, November 5th. Finally, Barclays lifted their target price on shares of CAVA Group from $52.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 7th.

Insider Buying and Selling at CAVA Group

In other news, insider Kenneth Robert Bertram sold 994 shares of CAVA Group stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total transaction of $61,767.16. Following the sale, the insider directly owned 49,122 shares in the company, valued at $3,052,441.08. The trade was a 1.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Theodoros Xenohristos sold 1,039 shares of the business’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total transaction of $64,563.46. Following the completion of the transaction, the insider directly owned 332,205 shares in the company, valued at $20,643,218.70. This trade represents a 0.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 42,843 shares of company stock valued at $2,764,355 in the last ninety days. 6.80% of the stock is owned by corporate insiders.

Institutional Trading of CAVA Group

A number of large investors have recently added to or reduced their stakes in CAVA. Maverick Capital Ltd. boosted its stake in CAVA Group by 19.0% in the fourth quarter. Maverick Capital Ltd. now owns 42,161 shares of the company’s stock valued at $2,474,000 after acquiring an additional 6,721 shares during the last quarter. Marshall Wace LLP lifted its stake in CAVA Group by 689.8% in the fourth quarter. Marshall Wace LLP now owns 1,387,774 shares of the company’s stock valued at $81,448,000 after purchasing an additional 1,212,068 shares during the last quarter. Quinn Opportunity Partners LLC grew its holdings in CAVA Group by 433.3% during the fourth quarter. Quinn Opportunity Partners LLC now owns 48,000 shares of the company’s stock valued at $2,817,000 after purchasing an additional 39,000 shares during the period. Inspire Advisors LLC grew its holdings in CAVA Group by 9.8% during the fourth quarter. Inspire Advisors LLC now owns 6,375 shares of the company’s stock valued at $374,000 after purchasing an additional 569 shares during the period. Finally, Bridgewater Associates LP increased its position in CAVA Group by 2.4% in the fourth quarter. Bridgewater Associates LP now owns 6,827 shares of the company’s stock worth $401,000 after buying an additional 163 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Stock Performance

Shares of CAVA opened at $63.48 on Friday. The firm has a market capitalization of $7.36 billion, a P/E ratio of 54.72, a P/E/G ratio of 4.67 and a beta of 2.41. CAVA Group has a 52 week low of $43.41 and a 52 week high of $134.73. The stock has a 50 day moving average price of $62.68 and a two-hundred day moving average price of $62.85.

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.