TD Cowen Reiterates “Buy” Rating for CAVA Group (NYSE:CAVA)

CAVA Group (NYSE:CAVA)‘s stock had its “buy” rating reaffirmed by equities research analysts at TD Cowen in a report issued on Thursday,Benzinga reports. They presently have a $100.00 price objective on the stock. TD Cowen’s price target would suggest a potential upside of 39.34% from the stock’s current price.

A number of other equities analysts have also weighed in on the company. UBS Group boosted their price objective on CAVA Group from $75.00 to $85.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. Mizuho boosted their price objective on CAVA Group from $72.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, April 2nd. Robert W. Baird boosted their price objective on CAVA Group from $88.00 to $98.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 20th. Citigroup boosted their price objective on CAVA Group from $75.00 to $92.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Finally, Northcoast Research raised CAVA Group to a “strong sell” rating in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $93.19.

CAVA Group Stock Up 0.6%

CAVA traded up $0.44 during trading on Thursday, reaching $71.77. The company’s stock had a trading volume of 559,378 shares, compared to its average volume of 3,382,943. The firm has a fifty day simple moving average of $83.56 and a two-hundred day simple moving average of $71.43. CAVA Group has a 1 year low of $43.41 and a 1 year high of $98.79. The company has a market cap of $8.36 billion, a price-to-earnings ratio of 138.02, a PEG ratio of 4.97 and a beta of 1.70.

CAVA Group (NYSE:CAVA) last released its earnings results on Tuesday, May 19th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. CAVA Group had a net margin of 4.79% and a return on equity of 7.92%. The business had revenue of $438.27 million for the quarter, compared to analyst estimates of $360.89 million. During the same period last year, the company posted $0.22 EPS. The business’s revenue was up 32.1% on a year-over-year basis. As a group, equities analysts forecast that CAVA Group will post 0.55 EPS for the current fiscal year.

Insider Transactions at CAVA Group

In other news, insider Theodoros Xenohristos sold 9,044 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $79.75, for a total transaction of $721,259.00. Following the completion of the sale, the insider owned 327,882 shares in the company, valued at $26,148,589.50. This trade represents a 2.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Adam David Phillips sold 5,181 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $77.14, for a total transaction of $399,662.34. Following the sale, the chief accounting officer owned 9,505 shares of the company’s stock, valued at $733,215.70. This represents a 35.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 24,235 shares of company stock worth $1,920,420 in the last 90 days. Insiders own 6.70% of the company’s stock.

Institutional Trading of CAVA Group

A number of hedge funds and other institutional investors have recently made changes to their positions in CAVA. Bison Wealth LLC acquired a new stake in shares of CAVA Group during the 4th quarter worth approximately $208,000. Goldman Sachs Group Inc. increased its holdings in shares of CAVA Group by 14.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 606,780 shares of the company’s stock worth $52,432,000 after buying an additional 75,828 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of CAVA Group by 17.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 236,622 shares of the company’s stock worth $20,447,000 after buying an additional 34,860 shares during the last quarter. Brown Advisory Inc. increased its holdings in CAVA Group by 9.3% in the 2nd quarter. Brown Advisory Inc. now owns 2,979 shares of the company’s stock valued at $251,000 after purchasing an additional 253 shares during the last quarter. Finally, Cresset Asset Management LLC increased its holdings in CAVA Group by 20.3% in the 2nd quarter. Cresset Asset Management LLC now owns 9,165 shares of the company’s stock valued at $772,000 after purchasing an additional 1,549 shares during the last quarter. 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.