Mizuho Increases CAVA Group (NYSE:CAVA) Price Target to $80.00

CAVA Group (NYSE:CAVA) had its price target hoisted by equities researchers at Mizuho from $72.00 to $80.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Mizuho’s target price would suggest a potential upside of 0.62% from the stock’s current price.

A number of other equities research analysts have also issued reports on CAVA. Guggenheim began coverage on CAVA Group in a research report on Thursday, March 26th. They set a “buy” rating and a $100.00 target price on the stock. Truist Financial increased their price target on CAVA Group from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Citigroup lifted their price target on CAVA Group from $74.00 to $75.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 25th. TD Cowen upped their price objective on shares of CAVA Group from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Finally, Argus reiterated a “hold” rating on shares of CAVA Group in a report on Friday, February 27th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, CAVA Group currently has an average rating of “Moderate Buy” and a consensus price target of $85.92.

CAVA Group Price Performance

CAVA stock opened at $79.51 on Thursday. The firm has a market cap of $9.25 billion, a PE ratio of 147.25, a P/E/G ratio of 6.79 and a beta of 2.03. CAVA Group has a 12 month low of $43.41 and a 12 month high of $101.50. The firm has a 50 day simple moving average of $74.59 and a 200 day simple moving average of $64.27.

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

Insider Buying and Selling at CAVA Group

In other CAVA Group news, CFO Tricia K. Tolivar sold 2,404 shares of the firm’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 $149,384.56. Following the completion of the sale, the chief financial officer directly owned 231,934 shares in the company, valued at approximately $14,412,378.76. This trade represents a 1.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Brett Schulman sold 21,650 shares of CAVA Group stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $67.41, for a total value of $1,459,426.50. Following the transaction, the chief executive officer directly owned 807,325 shares in the company, valued at approximately $54,421,778.25. This trade represents a 2.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 39,055 shares of company stock valued at $2,572,303 in the last ninety days. Company insiders own 6.80% of the company’s stock.

Institutional Trading of CAVA Group

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in CAVA Group by 3.5% during the third quarter. Vanguard Group Inc. now owns 9,345,976 shares of the company’s stock valued at $564,590,000 after purchasing an additional 313,938 shares in the last quarter. Capital Research Global Investors lifted its position in CAVA Group by 27.2% in the 4th quarter. Capital Research Global Investors now owns 8,440,040 shares of the company’s stock worth $495,344,000 after buying an additional 1,805,174 shares in the last quarter. Capital International Investors boosted its stake in shares of CAVA Group by 15.5% during the 4th quarter. Capital International Investors now owns 4,885,317 shares of the company’s stock valued at $286,718,000 after buying an additional 656,581 shares during the period. Morgan Stanley boosted its stake in shares of CAVA Group by 33.7% during the 4th quarter. Morgan Stanley now owns 3,318,894 shares of the company’s stock valued at $194,786,000 after buying an additional 835,628 shares during the period. Finally, Alliancebernstein L.P. grew its holdings in shares of CAVA Group by 118.3% during the 3rd 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. 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.