Telsey Advisory Group Increases CAVA Group (NYSE:CAVA) Price Target to $92.00

CAVA Group (NYSE:CAVA) had its target price increased by equities researchers at Telsey Advisory Group from $88.00 to $92.00 in a research report issued on Thursday, Marketbeat Ratings reports. The firm presently has an “outperform” rating on the stock. Telsey Advisory Group’s target price points to a potential upside of 19.45% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the company. Citigroup raised their price target on CAVA Group from $75.00 to $92.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Roth Mkm began coverage on CAVA Group in a research note on Tuesday, April 21st. They set a “buy” rating and a $106.00 price target for the company. BNP Paribas Exane began coverage on CAVA Group in a research note on Monday, March 30th. They set a “neutral” rating and a $91.00 price target for the company. Wall Street Zen raised CAVA Group from a “sell” rating to a “hold” rating in a research note on Sunday, May 3rd. Finally, JPMorgan Chase & Co. raised their price target on CAVA Group from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.81.

CAVA Group Stock Performance

Shares of CAVA stock opened at $77.02 on Thursday. CAVA Group has a 52-week low of $43.41 and a 52-week high of $98.79. The firm has a market capitalization of $8.97 billion, a P/E ratio of 142.63, a P/E/G ratio of 5.39 and a beta of 1.90. The stock has a 50 day moving average price of $84.98 and a 200 day moving average price of $68.98.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. CAVA Group had a return on equity of 8.43% and a net margin of 5.40%.The firm had revenue of $274.99 million during the quarter, compared to analyst estimates of $268.04 million. During the same period last year, the company earned $0.05 EPS. CAVA Group’s quarterly revenue was up 20.9% compared to the same quarter last year. As a group, sell-side analysts forecast that CAVA Group will post 0.52 EPS for the current year.

Insiders Place Their Bets

In other CAVA Group news, insider Theodoros Xenohristos sold 9,044 shares of CAVA Group stock in a transaction on Monday, May 11th. The stock was sold at an average price of $79.75, for a total transaction of $721,259.00. Following the completion of the sale, the insider directly owned 327,882 shares of the company’s stock, valued at $26,148,589.50. The trade was a 2.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 6.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CAVA Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Cornerstone Planning Group LLC raised its position in CAVA Group by 378.7% during 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 in the last quarter. Los Angeles Capital Management LLC bought a new stake in CAVA Group during the 4th quarter valued at $25,000. Harbor Investment Advisory LLC raised its position in CAVA Group by 347.8% during 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 in the last quarter. CNB Bank increased its holdings in shares of CAVA Group by 275.8% in the 3rd quarter. CNB Bank now owns 575 shares of the company’s stock valued at $35,000 after acquiring an additional 422 shares during the period. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of CAVA Group in the 3rd quarter valued at $36,000. 73.15% of the stock is owned by institutional investors.

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.