CAVA Group (NYSE:CAVA) Coverage Initiated at DA Davidson

Analysts at DA Davidson began coverage on shares of CAVA Group (NYSE:CAVA) in a research note issued on Friday, MarketBeat reports. The firm set a “neutral” rating and a $80.00 price target on the stock. DA Davidson’s price objective would suggest a potential upside of 1.60% from the company’s current price.

A number of other research analysts have also commented on the company. Argus reissued a “hold” rating on shares of CAVA Group in a report on Friday, February 27th. Morgan Stanley upped their target price on CAVA Group from $80.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 25th. Truist Financial lifted their price target on shares of CAVA Group from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. TD Cowen boosted their price objective on shares of CAVA Group from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Finally, Benchmark upgraded shares of CAVA Group to a “strong-buy” rating in a research note on Thursday, February 5th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.65.

CAVA Group Stock Down 0.8%

Shares of CAVA opened at $78.74 on Friday. The firm has a market cap of $9.16 billion, a price-to-earnings ratio of 145.82, a price-to-earnings-growth ratio of 6.76 and a beta of 2.16. The company’s fifty day moving average is $68.23 and its 200-day moving average is $62.00. CAVA Group has a 12 month low of $43.41 and a 12 month high of $101.50.

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

Insider Buying and Selling at CAVA Group

In related news, CEO Brett Schulman sold 21,650 shares of the company’s stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $67.41, for a total transaction 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. This represents a 2.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kelly Costanza sold 1,707 shares of the company’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 $106,072.98. Following the transaction, the insider owned 119,139 shares of the company’s stock, valued at approximately $7,403,297.46. The trade was a 1.41% decrease in their ownership of the stock. 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 three months. 6.80% of the stock is owned by insiders.

Institutional Investors Weigh In On CAVA Group

A number of institutional investors have recently added to or reduced their stakes in CAVA. Vanguard Group Inc. raised its holdings in CAVA Group by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 9,345,976 shares of the company’s stock valued at $564,590,000 after acquiring an additional 313,938 shares in the last quarter. 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 valued at $495,344,000 after purchasing an additional 1,805,174 shares during the period. Capital International Investors raised its stake in shares of CAVA Group by 15.5% in the fourth quarter. Capital International Investors now owns 4,885,317 shares of the company’s stock valued at $286,718,000 after purchasing an additional 656,581 shares in the last quarter. Morgan Stanley raised its stake in shares of CAVA Group by 33.7% in the fourth quarter. Morgan Stanley now owns 3,318,894 shares of the company’s stock valued at $194,786,000 after purchasing an additional 835,628 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in CAVA Group by 118.3% during the third quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company’s stock worth $178,432,000 after buying an additional 1,600,630 shares in the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

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.