CAVA Group (NYSE:CAVA) Price Target Raised to $86.00 at The Goldman Sachs Group

CAVA Group (NYSE:CAVA) had its target price increased by The Goldman Sachs Group from $75.00 to $86.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also issued reports about the company. Wall Street Zen upgraded CAVA Group from a “sell” rating to a “hold” rating in a research note on Saturday. Telsey Advisory Group boosted their target price on CAVA Group from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Truist Financial boosted their target price on CAVA Group from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Barclays boosted their target price on CAVA Group from $52.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 7th. Finally, Argus restated a “hold” rating on shares of CAVA Group in a research note on Friday, February 27th. Two investment 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $86.62.

CAVA Group Stock Down 0.9%

Shares of NYSE CAVA opened at $84.13 on Monday. CAVA Group has a twelve month low of $43.41 and a twelve month high of $101.50. The stock’s 50 day moving average price is $77.31 and its 200-day moving average price is $65.16. The company has a market capitalization of $9.79 billion, a PE ratio of 155.81, a PEG ratio of 7.21 and a beta of 2.03.

CAVA Group (NYSE:CAVA) last posted 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. CAVA Group had a net margin of 5.40% and a return on equity of 8.43%. The company had revenue of $274.99 million for the quarter, compared to analysts’ expectations of $268.04 million. During the same quarter in the previous year, the firm posted $0.05 EPS. CAVA Group’s revenue was up 20.9% on a year-over-year basis. As a group, research analysts expect that CAVA Group will post 0.5 EPS for the current fiscal year.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, CEO Brett Schulman sold 4,542 shares of the business’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $282,239.88. Following the sale, the chief executive officer owned 802,783 shares of the company’s stock, valued at $49,884,935.62. The trade was a 0.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Adam David Phillips sold 774 shares of the business’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $48,096.36. Following the sale, the chief accounting officer directly owned 10,435 shares in the company, valued at $648,430.90. The trade was a 6.91% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 39,055 shares of company stock worth $2,572,303. Company insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Los Angeles Capital Management LLC bought a new stake in CAVA Group during the 4th quarter valued at $25,000. Cornerstone Planning Group LLC raised its holdings in CAVA Group by 378.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock valued at $27,000 after acquiring an additional 356 shares during the period. Harbor Investment Advisory LLC increased 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 purchasing an additional 400 shares during the period. Toth Financial Advisory Corp increased its holdings 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 worth $31,000 after purchasing an additional 440 shares during the period. Finally, Western Pacific Wealth Management LP bought a new position in shares of CAVA Group in the third quarter worth $33,000. 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.