CAVA Group (NYSE:CAVA) Now Covered by Wolfe Research

Wolfe Research assumed coverage on shares of CAVA Group (NYSE:CAVA) in a research note issued to investors on Monday morning, Marketbeat reports. The firm issued an outperform rating and a $93.00 price objective on the stock.

Several other equities analysts also recently weighed in on CAVA. Sanford C. Bernstein raised their price target on shares of CAVA Group from $75.00 to $84.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Morgan Stanley upped their price objective on shares of CAVA Group from $80.00 to $83.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 25th. Barclays increased their price objective on shares of CAVA Group from $52.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, January 7th. KeyCorp boosted their target price on CAVA Group from $65.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, March 3rd. Finally, UBS Group upped their price target on CAVA Group from $69.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $84.04.

CAVA Group Stock Performance

Shares of CAVA opened at $81.76 on Monday. CAVA Group has a one year low of $43.41 and a one year high of $101.50. The stock has a market capitalization of $9.52 billion, a price-to-earnings ratio of 151.41, a PEG ratio of 6.76 and a beta of 2.15. The stock has a 50 day moving average price of $68.67 and a 200 day moving average price of $62.06.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. CAVA Group had a return on equity of 8.43% and a net margin of 5.40%.The company had revenue of $274.99 million for the quarter, compared to analyst estimates of $268.04 million. During the same quarter last year, the firm posted $0.05 EPS. The firm’s revenue for the quarter was up 20.9% on a year-over-year basis. On average, analysts predict that CAVA Group will post 0.5 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Theodoros Xenohristos sold 1,039 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 $64,563.46. Following the sale, the insider owned 332,205 shares of the company’s stock, valued at approximately $20,643,218.70. The trade was a 0.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Tricia K. Tolivar sold 2,404 shares of the company’s stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total value of $149,384.56. Following the completion of the transaction, the chief financial officer owned 231,934 shares in the company, valued at $14,412,378.76. This represents a 1.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 39,055 shares of company stock worth $2,572,303 over the last ninety days. 12.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CAVA. Bison Wealth LLC purchased a new position in shares of CAVA Group during the 4th quarter worth $208,000. Goldman Sachs Group Inc. boosted its stake in CAVA Group by 14.3% during the first quarter. Goldman Sachs Group Inc. now owns 606,780 shares of the company’s stock worth $52,432,000 after buying an additional 75,828 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in CAVA Group by 17.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 236,622 shares of the company’s stock worth $20,447,000 after buying an additional 34,860 shares during the period. Atria Investments Inc acquired a new stake in shares of CAVA Group during the second quarter valued at about $202,000. Finally, Bank of New York Mellon Corp increased its position in shares of CAVA Group by 52.9% during the second quarter. Bank of New York Mellon Corp now owns 824,316 shares of the company’s stock valued at $69,432,000 after acquiring an additional 285,294 shares during the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

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.