CAVA Group, Inc. (NYSE:CAVA) Receives Consensus Rating of “Moderate Buy” from Brokerages

CAVA Group, Inc. (NYSE:CAVA) has received an average rating of “Moderate Buy” from the twenty ratings firms that are covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $95.50.

CAVA has been the subject of a number of analyst reports. Melius initiated coverage on shares of CAVA Group in a research report on Monday, July 14th. They issued a “hold” rating and a $95.00 price objective for the company. UBS Group decreased their price objective on shares of CAVA Group from $96.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, August 13th. Argus set a $76.00 price objective on shares of CAVA Group in a research report on Tuesday, September 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of CAVA Group in a research report on Wednesday, October 8th. Finally, Robert W. Baird set a $95.00 price objective on shares of CAVA Group in a research report on Wednesday, August 13th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Jennison Associates LLC raised its position in shares of CAVA Group by 246.1% during the 1st quarter. Jennison Associates LLC now owns 8,519,459 shares of the company’s stock valued at $736,166,000 after acquiring an additional 6,057,727 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in CAVA Group by 114.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,394,561 shares of the company’s stock worth $206,915,000 after purchasing an additional 1,277,912 shares during the last quarter. Vanguard Group Inc. lifted its stake in CAVA Group by 13.2% during the first quarter. Vanguard Group Inc. now owns 9,065,782 shares of the company’s stock worth $783,374,000 after purchasing an additional 1,054,180 shares during the last quarter. Nuveen LLC bought a new position in CAVA Group during the first quarter worth $72,800,000. Finally, Alliancebernstein L.P. lifted its stake in CAVA Group by 2,072.1% during the first quarter. Alliancebernstein L.P. now owns 852,691 shares of the company’s stock worth $73,681,000 after purchasing an additional 813,434 shares during the last quarter. Institutional investors own 73.15% of the company’s stock.

CAVA Group Trading Down 0.3%

Shares of CAVA Group stock opened at $63.18 on Friday. The company has a fifty day moving average price of $65.76 and a 200 day moving average price of $78.86. CAVA Group has a twelve month low of $58.33 and a twelve month high of $172.43. The stock has a market cap of $7.33 billion, a price-to-earnings ratio of 53.10, a price-to-earnings-growth ratio of 3.17 and a beta of 2.50.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Tuesday, August 12th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. The company had revenue of $280.62 million during the quarter, compared to analysts’ expectations of $285.65 million. CAVA Group had a net margin of 12.98% and a return on equity of 9.83%. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.17 EPS. Analysts forecast that CAVA Group will post 0.5 earnings per share for the current year.

About CAVA Group

CAVA Group, Inc owns and operates a chain of restaurants under the CAVA brand in the United States. The company also offers dips, spreads, and dressings through grocery stores. In addition, the company provides online and mobile ordering platforms. Cava Group, Inc was founded in 2006 and is headquartered in Washington, the District of Columbia.