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

CAVA Group (NYSE:CAVA)‘s stock had its “outperform” rating restated by investment analysts at Telsey Advisory Group in a research report issued on Thursday,Benzinga reports. They currently have a $85.00 price target on the stock. Telsey Advisory Group’s price objective points to a potential upside of 25.20% from the company’s current price.

Other research analysts have also issued reports about the stock. Sanford C. Bernstein set a $70.00 price objective on shares of CAVA Group in a research note on Wednesday, January 7th. Royal Bank Of Canada set a $70.00 price target on CAVA Group in a report on Wednesday, November 5th. Citigroup increased their price objective on shares of CAVA Group from $60.00 to $74.00 and gave the company a “neutral” rating in a research report on Thursday, February 12th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $68.00 price target on shares of CAVA Group in a research note on Wednesday, November 5th. Finally, Stifel Nicolaus set a $75.00 price objective on shares of CAVA Group in a research report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, CAVA Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.21.

CAVA Group Stock Up 7.2%

Shares of CAVA stock opened at $67.89 on Thursday. CAVA Group has a 12-month low of $43.41 and a 12-month high of $132.47. The firm has a fifty day moving average of $63.37 and a 200-day moving average of $62.22. The company has a market capitalization of $7.87 billion, a price-to-earnings ratio of 58.53, a P/E/G ratio of 4.65 and a beta of 2.41.

Insiders Place Their Bets

In other news, insider Kelly Costanza sold 1,707 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 $106,072.98. Following the completion of the transaction, the insider directly owned 119,139 shares in the company, valued at $7,403,297.46. This trade represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Tricia K. Tolivar sold 2,404 shares of the business’s stock in a transaction that occurred on 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 owned 231,934 shares in the company, valued at $14,412,378.76. This trade represents a 1.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 42,843 shares of company stock worth $2,764,355 over the last quarter. 6.80% of the stock is currently owned by corporate insiders.

Institutional Trading of CAVA Group

Several large investors have recently modified their holdings of the stock. Quadcap Wealth Management LLC raised its stake in shares of CAVA Group by 1.4% during the 2nd quarter. Quadcap Wealth Management LLC now owns 8,966 shares of the company’s stock valued at $755,000 after purchasing an additional 124 shares during the period. McDonough Capital Management Inc boosted its position in shares of CAVA Group by 4.7% in the second quarter. McDonough Capital Management Inc now owns 2,910 shares of the company’s stock valued at $245,000 after acquiring an additional 131 shares during the period. Tsfg LLC grew its stake in CAVA Group by 19.1% during the second quarter. Tsfg LLC now owns 937 shares of the company’s stock valued at $79,000 after acquiring an additional 150 shares in the last quarter. Baltimore Washington Financial Advisors Inc. grew its stake in CAVA Group by 5.6% during the second quarter. Baltimore Washington Financial Advisors Inc. now owns 2,810 shares of the company’s stock valued at $237,000 after acquiring an additional 150 shares in the last quarter. Finally, D.A. Davidson & CO. increased its holdings in CAVA Group by 0.4% during the 2nd quarter. D.A. Davidson & CO. now owns 34,342 shares of the company’s stock worth $2,893,000 after acquiring an additional 153 shares during the period. Institutional investors and hedge funds 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.