CAVA Group, Inc. (NYSE:CAVA) Receives $84.04 Consensus Target Price from Brokerages

Shares of CAVA Group, Inc. (NYSE:CAVA) have earned an average rating of “Moderate Buy” from the twenty-five brokerages that are presently covering the firm, MarketBeat.com reports. Ten equities research analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $84.0417.

Several brokerages recently issued reports on CAVA. Benchmark upgraded CAVA Group to a “strong-buy” rating in a report on Thursday, February 5th. Mizuho upped their target price on shares of CAVA Group from $52.00 to $64.00 and gave the stock a “neutral” rating in a research note on Friday, January 9th. UBS Group increased their target price on shares of CAVA Group from $69.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. Barclays raised their price target on shares of CAVA Group from $52.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 7th. Finally, Telsey Advisory Group boosted their price target on shares of CAVA Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th.

Insider Activity

In related news, insider Theodoros Xenohristos sold 1,039 shares of the 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 $64,563.46. Following the completion of the sale, the insider directly owned 332,205 shares of the company’s stock, valued at approximately $20,643,218.70. This trade represents a 0.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brett Schulman sold 21,650 shares of CAVA Group stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $67.41, for a total value of $1,459,426.50. Following the sale, the chief executive officer owned 807,325 shares in the company, valued at $54,421,778.25. This trade represents a 2.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 39,055 shares of company stock worth $2,572,303. Corporate insiders own 12.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CAVA. Quadcap Wealth Management LLC raised its holdings in 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 acquiring an additional 124 shares during the period. McDonough Capital Management Inc grew 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 purchasing an additional 131 shares in the last quarter. Baltimore Washington Financial Advisors Inc. grew its position in shares of CAVA Group by 5.6% in the second quarter. Baltimore Washington Financial Advisors Inc. now owns 2,810 shares of the company’s stock valued at $237,000 after purchasing an additional 150 shares in the last quarter. DMC Group LLC raised its stake in shares of CAVA Group by 3.7% during the 4th quarter. DMC Group LLC now owns 4,426 shares of the company’s stock valued at $260,000 after purchasing an additional 157 shares during the period. Finally, Bridgewater Associates LP lifted its holdings in CAVA Group by 2.4% during the 4th quarter. Bridgewater Associates LP now owns 6,827 shares of the company’s stock worth $401,000 after purchasing an additional 163 shares in the last quarter. Institutional investors own 73.15% of the company’s stock.

CAVA Group Stock Performance

Shares of NYSE CAVA opened at $90.39 on Wednesday. The stock has a market cap of $10.52 billion, a price-to-earnings ratio of 167.38, a PEG ratio of 7.51 and a beta of 2.16. CAVA Group has a fifty-two week low of $43.41 and a fifty-two week high of $101.50. The firm’s 50-day simple moving average is $71.35 and its 200 day simple moving average is $62.73.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The firm had revenue of $274.99 million during the quarter, compared to analyst estimates of $268.04 million. CAVA Group had a return on equity of 8.43% and a net margin of 5.40%.The company’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.05 EPS. On average, sell-side analysts predict that CAVA Group will post 0.5 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.