CAVA Group, Inc. (NYSE:CAVA) Receives Average Rating of “Moderate Buy” from Analysts

Shares of CAVA Group, Inc. (NYSE:CAVA) have received a consensus rating of “Moderate Buy” from the twenty-five ratings firms that are presently covering the stock, Marketbeat reports. Ten analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $84.0417.

Several equities research analysts recently commented on CAVA shares. Royal Bank Of Canada boosted their target price on CAVA Group from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. DA Davidson began coverage on CAVA Group in a research note on Friday, March 6th. They set a “neutral” rating and a $80.00 price target for the company. Sanford C. Bernstein lifted their price target on CAVA Group from $75.00 to $84.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. TD Cowen boosted their price objective on CAVA Group from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Finally, Benchmark upgraded CAVA Group to a “strong-buy” rating in a report on Thursday, February 5th.

CAVA Group Stock Down 2.1%

Shares of CAVA opened at $80.08 on Wednesday. The firm has a 50-day moving average price of $69.10 and a 200 day moving average price of $62.14. The firm has a market capitalization of $9.32 billion, a PE ratio of 148.31, a P/E/G ratio of 7.04 and a beta of 2.16. CAVA Group has a 52-week low of $43.41 and a 52-week high of $101.50.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Tuesday, February 24th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The company had revenue of $274.99 million for the quarter, compared to the consensus estimate of $268.04 million. CAVA Group had a net margin of 5.40% and a return on equity of 8.43%. CAVA Group’s revenue was up 20.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.05 EPS. On average, equities analysts expect that CAVA Group will post 0.5 EPS for the current year.

Insider Buying and Selling

In other CAVA Group news, insider Kelly Costanza sold 1,707 shares of the company’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total value of $106,072.98. Following the completion of the sale, the insider directly owned 119,139 shares of the company’s stock, valued at approximately $7,403,297.46. This represents a 1.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kenneth Robert Bertram sold 994 shares of the firm’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $61,767.16. Following the transaction, the insider owned 49,122 shares of the company’s stock, valued at approximately $3,052,441.08. This trade represents a 1.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 39,055 shares of company stock worth $2,572,303 in the last ninety days. Insiders own 12.10% of the company’s stock.

Institutional Trading of CAVA Group

A number of large investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC purchased a new stake in shares of CAVA Group during the second quarter worth $463,000. Valeo Financial Advisors LLC purchased a new position in CAVA Group in the second quarter valued at about $57,824,000. Renaissance Capital LLC increased its position in CAVA Group by 42.7% in the 3rd quarter. Renaissance Capital LLC now owns 105,730 shares of the company’s stock worth $6,387,000 after purchasing an additional 31,651 shares during the last quarter. Envestnet Asset Management Inc. increased its position in CAVA Group by 57.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 222,499 shares of the company’s stock worth $13,441,000 after purchasing an additional 81,393 shares during the last quarter. Finally, William Blair Investment Management LLC purchased a new stake in shares of CAVA Group during the 3rd quarter worth about $114,098,000. 73.15% of the stock is currently owned by 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.