CAVA Group, Inc. (NYSE:CAVA) Receives $85.92 Consensus Target Price from Analysts

CAVA Group, Inc. (NYSE:CAVA) has earned a consensus rating of “Moderate Buy” from the twenty-seven ratings firms that are currently covering the firm, Marketbeat.com reports. Eleven analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $85.9231.

CAVA has been the subject of several analyst reports. DA Davidson initiated coverage on CAVA Group in a research report on Friday, March 6th. They set a “neutral” rating and a $80.00 price objective for the company. Morgan Stanley upped their price objective 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. Telsey Advisory Group upped their price objective on CAVA Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Royal Bank Of Canada upped their price objective on CAVA Group from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Finally, Guggenheim initiated coverage on CAVA Group in a research report on Thursday, March 26th. They set a “buy” rating and a $100.00 price objective for the company.

CAVA Group Stock Performance

NYSE:CAVA opened at $83.40 on Friday. The stock has a 50-day simple moving average of $75.40 and a 200-day simple moving average of $64.56. The stock has a market cap of $9.71 billion, a P/E ratio of 154.45, a P/E/G ratio of 6.79 and a beta of 2.03. CAVA Group has a 1 year low of $43.41 and a 1 year 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, topping the consensus estimate of $0.03 by $0.01. The business had revenue of $274.99 million during the quarter, compared to analysts’ expectations of $268.04 million. CAVA Group had a return on equity of 8.43% and a net margin of 5.40%.The business’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.05 EPS. On average, equities research analysts predict that CAVA Group will post 0.5 EPS for the current year.

Insider Buying and Selling at CAVA Group

In other news, insider Kenneth Robert Bertram sold 1,074 shares of the company’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $67.41, for a total transaction of $72,398.34. Following the completion of the transaction, the insider directly owned 50,116 shares of the company’s stock, valued at approximately $3,378,319.56. This represents a 2.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kelly Costanza sold 1,707 shares of the company’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total value of $106,072.98. Following the completion of the sale, the insider directly owned 119,139 shares of the company’s stock, valued at approximately $7,403,297.46. This trade represents a 1.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 39,055 shares of company stock worth $2,572,303. Corporate insiders own 6.80% of the company’s stock.

Institutional Trading of CAVA Group

Large investors have recently made changes to their positions in the company. Los Angeles Capital Management LLC acquired a new stake in shares of CAVA Group in the 4th quarter valued at about $25,000. Cornerstone Planning Group LLC boosted its position in shares of CAVA Group by 378.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock valued at $27,000 after purchasing an additional 356 shares during the period. Harbor Investment Advisory LLC boosted its position in shares of CAVA Group by 347.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock valued at $30,000 after purchasing an additional 400 shares during the period. Toth Financial Advisory Corp boosted its position in shares of CAVA Group by 656.7% in the 3rd quarter. Toth Financial Advisory Corp now owns 507 shares of the company’s stock valued at $31,000 after purchasing an additional 440 shares during the period. Finally, Western Pacific Wealth Management LP acquired a new stake in shares of CAVA Group in the 3rd quarter valued at about $33,000. 73.15% of the stock is owned by institutional investors and hedge funds.

About CAVA Group

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.