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

Guggenheim started coverage on shares of CAVA Group (NYSE:CAVA) in a research note published on Thursday, Marketbeat reports. The firm issued a buy rating and a $100.00 price objective on the stock.

A number of other analysts also recently weighed in on CAVA. Benchmark raised shares of CAVA Group to a “strong-buy” rating in a research report on Thursday, February 5th. Sanford C. Bernstein increased their price target on CAVA Group from $75.00 to $84.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. KeyCorp lifted their price objective on CAVA Group from $65.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 3rd. Mizuho lifted their target price on CAVA Group from $52.00 to $64.00 and gave the stock a “neutral” rating in a report on Friday, January 9th. Finally, DA Davidson initiated coverage on CAVA Group in a research note on Friday, March 6th. They issued a “neutral” rating and a $80.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, CAVA Group has a consensus rating of “Moderate Buy” and an average target price of $84.68.

CAVA Group Stock Performance

CAVA stock opened at $78.83 on Thursday. The company has a market capitalization of $9.17 billion, a P/E ratio of 145.98, a PEG ratio of 6.85 and a beta of 2.16. The company has a fifty day moving average price of $73.38 and a 200-day moving average price of $63.67. CAVA Group has a 52-week low of $43.41 and a 52-week high of $101.50.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.01. The company had revenue of $274.99 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 earnings per share. As a group, sell-side analysts forecast that CAVA Group will post 0.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CAVA Group news, insider Kenneth Robert Bertram sold 1,074 shares of the company’s stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $67.41, for a total value of $72,398.34. Following the completion of the transaction, the insider owned 50,116 shares in the company, valued at $3,378,319.56. This represents a 2.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kelly Costanza sold 1,707 shares of the firm’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total value of $106,072.98. Following 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 39,055 shares of company stock valued at $2,572,303. 6.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CAVA Group

Several large investors have recently modified their holdings of CAVA. Los Angeles Capital Management LLC bought a new position in CAVA Group during the fourth quarter worth about $25,000. Cornerstone Planning Group LLC raised its position in shares of 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 period. Harbor Investment Advisory LLC boosted its holdings in shares of CAVA Group by 347.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock worth $30,000 after acquiring an additional 400 shares during the period. Toth Financial Advisory Corp grew its position in shares of CAVA Group by 656.7% in the third quarter. Toth Financial Advisory Corp now owns 507 shares of the company’s stock valued at $31,000 after purchasing an additional 440 shares in the last quarter. Finally, Western Pacific Wealth Management LP purchased a new position in shares of CAVA Group in the third quarter valued at $33,000. Hedge funds and other institutional investors own 73.15% of the company’s stock.

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.