CAVA Group (NYSE:CAVA) Coverage Initiated by Analysts at BNP Paribas Exane

BNP Paribas Exane began coverage on shares of CAVA Group (NYSE:CAVA) in a report released on Monday, MarketBeat Ratings reports. The firm issued a neutral rating and a $91.00 target price on the stock.

Several other brokerages have also issued reports on CAVA. Guggenheim assumed coverage on shares of CAVA Group in a report on Thursday, March 26th. They issued a “buy” rating and a $100.00 price objective on the stock. Piper Sandler increased their target price on shares of CAVA Group from $71.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. Sanford C. Bernstein lifted their price target on shares of CAVA Group from $75.00 to $84.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. Citigroup boosted their price target on shares of CAVA Group from $74.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Finally, Telsey Advisory Group upped their price objective on shares of CAVA Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.92.

CAVA Group Stock Performance

Shares of CAVA Group stock opened at $76.84 on Monday. The stock has a 50 day moving average of $73.55 and a 200 day moving average of $63.80. The firm has a market capitalization of $8.94 billion, a price-to-earnings ratio of 142.29, a PEG ratio of 6.43 and a beta of 2.15. CAVA Group has a fifty-two week low of $43.41 and a fifty-two week high of $101.50.

CAVA Group (NYSE:CAVA) last posted its earnings results on Tuesday, February 24th. The company reported $0.04 EPS 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 the consensus estimate of $268.04 million. During the same quarter in the previous year, the business earned $0.05 earnings per share. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. Analysts forecast that CAVA Group will post 0.5 EPS for the current year.

Insider Activity at CAVA Group

In other CAVA Group news, insider Theodoros Xenohristos sold 1,039 shares of the business’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 $64,563.46. Following the sale, the insider directly owned 332,205 shares in the company, valued at $20,643,218.70. This represents a 0.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kelly Costanza sold 1,707 shares of the stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total transaction of $106,072.98. Following the sale, the insider directly owned 119,139 shares in the company, valued at $7,403,297.46. This represents a 1.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 39,055 shares of company stock worth $2,572,303 over the last ninety days. Company insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

Several large investors have recently added to or reduced their stakes in CAVA. Capital International Investors boosted its position in CAVA Group by 105.4% in the 3rd quarter. Capital International Investors now owns 4,228,736 shares of the company’s stock valued at $255,451,000 after buying an additional 2,169,553 shares during the period. William Blair Investment Management LLC purchased a new stake in shares of CAVA Group during the third quarter worth $114,098,000. Capital Research Global Investors increased its position in shares of CAVA Group by 27.2% during the fourth quarter. Capital Research Global Investors now owns 8,440,040 shares of the company’s stock worth $495,344,000 after acquiring an additional 1,805,174 shares during the period. Alliancebernstein L.P. raised its stake in shares of CAVA Group by 118.3% in the third quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company’s stock valued at $178,432,000 after acquiring an additional 1,600,630 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in shares of 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 acquiring an additional 1,212,068 shares in the last quarter. 73.15% of the stock is 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.