CAVA Group, Inc. (NYSE:CAVA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of CAVA Group, Inc. (NYSE:CAVA) have been assigned an average recommendation of “Moderate Buy” from the twenty-seven ratings firms that are covering the company, MarketBeat reports. Eleven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $85.9231.

Several brokerages have recently issued reports on CAVA. Johnson Rice set a $72.00 price target on CAVA Group in a report on Monday, January 5th. Guggenheim assumed coverage on shares of CAVA Group in a research report on Thursday, March 26th. They set a “buy” rating and a $100.00 price objective on the stock. Mizuho boosted their target price on shares of CAVA Group from $72.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday. Wolfe Research initiated coverage on shares of CAVA Group in a research note on Monday, March 9th. They set an “outperform” rating and a $93.00 price target on the stock. Finally, DA Davidson began coverage on shares of CAVA Group in a research note on Friday, March 6th. They issued a “neutral” rating and a $80.00 price objective for the company.

CAVA Group Stock Down 0.1%

CAVA Group stock opened at $79.51 on Friday. CAVA Group has a 12 month low of $43.41 and a 12 month high of $101.50. The stock has a market cap of $9.25 billion, a P/E ratio of 147.25, a P/E/G ratio of 6.79 and a beta of 2.03. The company’s fifty day simple moving average is $74.59 and its 200-day simple moving average is $64.28.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data 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 return on equity of 8.43% and a net margin of 5.40%.The business had revenue of $274.99 million during the quarter, compared to analyst estimates of $268.04 million. During the same period last year, the company earned $0.05 earnings per share. CAVA Group’s quarterly revenue was up 20.9% compared to the same quarter last year. On average, equities research analysts expect that CAVA Group will post 0.5 earnings per share for the current fiscal year.

Insider Activity at CAVA Group

In other news, 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 transaction, the insider 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 SEC, which is accessible through this link. Also, CEO Brett Schulman sold 21,650 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer directly owned 807,325 shares in the company, valued at $54,421,778.25. The trade was a 2.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 39,055 shares of company stock valued at $2,572,303. Insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

A number of large investors have recently added to or reduced their stakes in CAVA. DMC Group LLC grew its holdings in CAVA Group by 3.7% during the fourth quarter. DMC Group LLC now owns 4,426 shares of the company’s stock valued at $260,000 after purchasing an additional 157 shares during the last quarter. Bridgewater Associates LP lifted its stake in shares of CAVA Group by 2.4% in the fourth quarter. Bridgewater Associates LP now owns 6,827 shares of the company’s stock worth $401,000 after buying an additional 163 shares during the last quarter. Western Pacific Wealth Management LP boosted its holdings in shares of CAVA Group by 32.5% during the 4th quarter. Western Pacific Wealth Management LP now owns 729 shares of the company’s stock worth $43,000 after buying an additional 179 shares during the period. Nautilus Advisors LLC boosted its holdings in shares of CAVA Group by 7.5% during the 2nd quarter. Nautilus Advisors LLC now owns 2,673 shares of the company’s stock worth $225,000 after buying an additional 186 shares during the period. Finally, Dearborn Partners LLC grew its stake in CAVA Group by 8.2% in the 2nd quarter. Dearborn Partners LLC now owns 2,649 shares of the company’s stock valued at $223,000 after buying an additional 200 shares during the last quarter. 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.