Telsey Advisory Group Reiterates Outperform Rating for CAVA Group (NYSE:CAVA)

CAVA Group (NYSE:CAVA)‘s stock had its “outperform” rating reissued by investment analysts at Telsey Advisory Group in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $85.00 price objective on the stock. Telsey Advisory Group’s target price points to a potential upside of 21.40% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Benchmark raised shares of CAVA Group to a “strong-buy” rating in a research note on Thursday, February 5th. Truist Financial raised their price objective on shares of CAVA Group from $66.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. Stifel Nicolaus set a $75.00 target price on CAVA Group in a research note on Wednesday, November 5th. UBS Group increased their target price on CAVA Group from $66.00 to $69.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Morgan Stanley dropped their price target on CAVA Group from $86.00 to $80.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 20th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, CAVA Group has an average rating of “Moderate Buy” and a consensus target price of $82.21.

CAVA Group Stock Performance

NYSE CAVA opened at $70.02 on Thursday. The firm’s fifty day moving average is $64.03 and its two-hundred day moving average is $62.14. CAVA Group has a one year low of $43.41 and a one year high of $119.01. The firm has a market cap of $8.12 billion, a PE ratio of 60.36, a P/E/G ratio of 5.03 and a beta of 2.41.

Insider Activity

In other CAVA Group news, insider Theodoros Xenohristos sold 1,039 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 $64,563.46. Following the completion of the sale, the insider owned 332,205 shares in the company, valued at $20,643,218.70. The trade was a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction, the chief financial officer directly owned 231,934 shares in the company, valued at $14,412,378.76. This represents a 1.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 42,843 shares of company stock worth $2,764,355 in the last ninety days. 6.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CAVA Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Global Retirement Partners LLC bought a new position in CAVA Group during the second quarter valued at about $463,000. Y Intercept Hong Kong Ltd boosted its stake in CAVA Group by 271.7% in the second quarter. Y Intercept Hong Kong Ltd now owns 23,659 shares of the company’s stock valued at $1,993,000 after acquiring an additional 17,294 shares during the last quarter. Hantz Financial Services Inc. grew its position in shares of CAVA Group by 1,846,775.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 73,875 shares of the company’s stock valued at $6,222,000 after acquiring an additional 73,871 shares during the period. Valeo Financial Advisors LLC bought a new position in shares of CAVA Group during the 2nd quarter valued at approximately $57,824,000. Finally, Renaissance Capital LLC increased its stake in shares of CAVA Group by 42.7% during the 3rd quarter. Renaissance Capital LLC now owns 105,730 shares of the company’s stock worth $6,387,000 after purchasing an additional 31,651 shares during the last quarter. 73.15% of the stock is owned by institutional investors.

About CAVA Group

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.