Mizuho Raises CAVA Group (NYSE:CAVA) Price Target to $80.00

CAVA Group (NYSE:CAVA) had its price objective boosted by Mizuho from $72.00 to $80.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Mizuho’s price target suggests a potential downside of 0.45% from the stock’s current price.

A number of other analysts have also issued reports on CAVA. Barclays lifted their price objective on shares of CAVA Group from $52.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 7th. Morgan Stanley upped their target price on shares of CAVA Group from $80.00 to $83.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 25th. Piper Sandler boosted their target price on shares of CAVA Group from $71.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. Sanford C. Bernstein increased their target price on shares of CAVA Group from $75.00 to $84.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Finally, TD Cowen lifted their price target on shares of CAVA Group from $85.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $85.54.

CAVA Group Stock Down 0.7%

Shares of CAVA stock opened at $80.36 on Thursday. 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 moving average price is $74.06 and its two-hundred day moving average price is $64.04. The stock has a market cap of $9.35 billion, a price-to-earnings ratio of 148.82, a price-to-earnings-growth ratio of 6.90 and a beta of 2.02.

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, topping the consensus estimate of $0.03 by $0.01. The company 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%. The business’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.05 earnings per share. On average, equities analysts forecast that CAVA Group will post 0.5 EPS for the current fiscal year.

Insider Activity

In related news, insider Kelly Costanza sold 1,707 shares of CAVA Group 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 transaction, the insider directly owned 119,139 shares of the company’s stock, valued at $7,403,297.46. The trade was a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Tricia K. Tolivar sold 2,404 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 value 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 39,055 shares of company stock worth $2,572,303 in the last quarter. 6.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Liontrust Investment Partners LLP bought a new position in shares of CAVA Group in the 3rd quarter valued at approximately $43,189,000. Valeo Financial Advisors LLC acquired a new position in CAVA Group during the second quarter valued at approximately $57,824,000. Leibman Financial Services Inc. grew its holdings in CAVA Group by 162.9% during the fourth quarter. Leibman Financial Services Inc. now owns 67,324 shares of the company’s stock valued at $3,951,000 after purchasing an additional 41,712 shares during the last quarter. Renaissance Capital LLC raised its position in shares of CAVA Group by 42.7% in the third quarter. Renaissance Capital LLC now owns 105,730 shares of the company’s stock valued at $6,387,000 after purchasing an additional 31,651 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in shares of 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 buying an additional 1,600,630 shares during the last quarter. Hedge funds and other institutional investors 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.