CAVA Group, Inc. (NYSE:CAVA) Receives $89.44 Average PT from Analysts

CAVA Group, Inc. (NYSE:CAVA) has earned an average rating of “Moderate Buy” from the twenty-six brokerages that are covering the company, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation, sixteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $89.44.

CAVA has been the subject of several recent research reports. Argus set a $92.00 target price on shares of CAVA Group in a research report on Friday, May 22nd. TD Cowen cut their price target on shares of CAVA Group from $100.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Northcoast Research raised shares of CAVA Group from a “sell” rating to a “neutral” rating in a research note on Thursday, August 13th. Stifel Nicolaus upped their price objective on shares of CAVA Group from $90.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, May 20th. Finally, KeyCorp decreased their price objective on shares of CAVA Group from $110.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, August 12th.

CAVA Group Price Performance

Shares of CAVA Group stock opened at $60.18 on Wednesday. The firm has a market cap of $7.03 billion, a price-to-earnings ratio of 109.43, a P/E/G ratio of 4.76 and a beta of 1.74. CAVA Group has a 52-week low of $43.41 and a 52-week high of $98.79. The stock has a 50-day simple moving average of $67.26 and a 200-day simple moving average of $77.17.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. The business had revenue of $368.44 million during the quarter, compared to analysts’ expectations of $360.09 million. CAVA Group had a return on equity of 8.28% and a net margin of 4.82%.The firm’s quarterly revenue was up 31.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.16 EPS. As a group, equities research analysts predict that CAVA Group will post 0.54 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Douglas W. Thompson purchased 6,500 shares of the firm’s stock in a transaction dated Monday, August 31st. The stock was bought at an average price of $66.52 per share, for a total transaction of $432,380.00. Following the purchase, the insider owned 19,371 shares in the company, valued at $1,288,558.92. The trade was a 50.50% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kelly Costanza sold 12,490 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $90.00, for a total value of $1,124,100.00. Following the transaction, the insider directly owned 98,490 shares in the company, valued at approximately $8,864,100. This represents a 11.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 67,512 shares of company stock valued at $6,050,417. 6.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CAVA Group

A number of large investors have recently added to or reduced their stakes in CAVA. BlackRock Inc. bought a new position in shares of CAVA Group in the second quarter valued at approximately $757,013,000. California State Teachers Retirement System lifted its stake in shares of CAVA Group by 7,511.4% in the second quarter. California State Teachers Retirement System now owns 8,436,678 shares of the company’s stock worth $662,110,000 after buying an additional 8,325,836 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of CAVA Group by 27.2% during the 4th quarter. Capital Research Global Investors now owns 8,440,040 shares of the company’s stock worth $495,344,000 after buying an additional 1,805,174 shares during the period. Marshall Wace LLP boosted its holdings in shares of CAVA Group by 689.8% during the 4th quarter. Marshall Wace LLP now owns 1,387,774 shares of the company’s stock worth $81,448,000 after buying an additional 1,212,068 shares during the period. Finally, Primecap Management Co. CA acquired a new position in CAVA Group in the 2nd quarter valued at $92,956,000. 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.