CAVA Group, Inc. (NYSE:CAVA) Receives $93.38 Consensus Price Target from Brokerages

Shares of CAVA Group, Inc. (NYSE:CAVA) have earned a consensus recommendation of “Moderate Buy” from the twenty-eight analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation, eighteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $93.5385.

CAVA has been the topic of several recent analyst reports. Argus set a $92.00 price objective on CAVA Group in a research note on Friday, May 22nd. KeyCorp upped their target price on shares of CAVA Group from $95.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. UBS Group upgraded shares of CAVA Group from a “neutral” rating to a “buy” rating and increased their target price for the company from $85.00 to $90.00 in a report on Wednesday, June 10th. Wolfe Research set a $95.00 price target on shares of CAVA Group in a research report on Tuesday, June 30th. Finally, Barclays boosted their price target on shares of CAVA Group from $70.00 to $74.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 20th.

Insider Activity

In other news, CEO Brett Schulman sold 33,174 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $89.43, for a total value of $2,966,750.82. Following the transaction, the chief executive officer owned 798,669 shares in the company, valued at $71,424,968.67. The trade was a 3.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Adam David Phillips sold 5,181 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $77.14, for a total value of $399,662.34. Following the completion of the transaction, the chief accounting officer directly owned 9,505 shares of the company’s stock, valued at approximately $733,215.70. This represents a 35.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 91,747 shares of company stock worth $7,970,838. Corporate insiders own 6.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CAVA. Liontrust Investment Partners LLP bought a new position in CAVA Group during the third quarter valued at about $43,189,000. Leibman Financial Services Inc. raised its position in CAVA Group by 162.9% in the fourth quarter. Leibman Financial Services Inc. now owns 67,324 shares of the company’s stock worth $3,951,000 after acquiring an additional 41,712 shares during the period. Alliancebernstein L.P. raised its position in CAVA Group by 118.3% in the third quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company’s stock worth $178,432,000 after acquiring an additional 1,600,630 shares during the period. SG Americas Securities LLC boosted its stake in CAVA Group by 74.2% in the fourth quarter. SG Americas Securities LLC now owns 32,817 shares of the company’s stock valued at $1,926,000 after acquiring an additional 13,977 shares during the last quarter. Finally, Norman Fields Gottscho Capital Management LLC purchased a new position in CAVA Group in the fourth quarter valued at about $1,699,000. Institutional investors own 73.15% of the company’s stock.

CAVA Group Stock Performance

Shares of NYSE CAVA opened at $68.04 on Tuesday. CAVA Group has a fifty-two week low of $43.41 and a fifty-two week high of $98.79. The stock has a market cap of $7.92 billion, a price-to-earnings ratio of 130.85, a PEG ratio of 4.77 and a beta of 1.69. The firm’s 50-day simple moving average is $78.19 and its 200 day simple moving average is $77.11.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, May 19th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. CAVA Group had a return on equity of 7.92% and a net margin of 4.79%.The firm had revenue of $438.27 million during the quarter, compared to analyst estimates of $360.89 million. During the same period in the previous year, the company posted $0.22 EPS. The company’s revenue for the quarter was up 32.1% on a year-over-year basis. On average, sell-side analysts predict that CAVA Group will post 0.55 EPS for the current year.

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.