Analysts Set CAVA Group, Inc. (NYSE:CAVA) PT at $82.55

CAVA Group, Inc. (NYSE:CAVA) has earned a consensus recommendation of “Moderate Buy” from the twenty-two brokerages that are currently covering the stock, Marketbeat.com reports. Nine research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $82.55.

Several analysts recently issued reports on CAVA shares. Citigroup cut their target price on CAVA Group from $77.00 to $60.00 and set a “neutral” rating on the stock in a research note on Wednesday. The Goldman Sachs Group reiterated a “neutral” rating and issued a $68.00 price objective on shares of CAVA Group in a research report on Wednesday. Argus set a $76.00 target price on CAVA Group in a research note on Tuesday, September 2nd. Robert W. Baird set a $95.00 price target on CAVA Group in a research note on Wednesday, August 13th. Finally, Melius began coverage on shares of CAVA Group in a research report on Monday, July 14th. They set a “hold” rating and a $95.00 price objective on the stock.

CAVA Group Stock Up 4.3%

Shares of NYSE CAVA opened at $48.58 on Thursday. The firm’s fifty day moving average is $61.91 and its 200 day moving average is $75.98. CAVA Group has a 52 week low of $45.57 and a 52 week high of $172.43. The company has a market cap of $5.63 billion, a price-to-earnings ratio of 41.88, a PEG ratio of 2.75 and a beta of 2.47.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). CAVA Group had a return on equity of 8.88% and a net margin of 12.14%.The firm had revenue of $292.24 million during the quarter, compared to the consensus estimate of $292.88 million. During the same period last year, the business earned $0.15 EPS. CAVA Group’s revenue was up 19.9% on a year-over-year basis. Equities research analysts anticipate that CAVA Group will post 0.5 earnings per share for the current year.

Institutional Investors Weigh In On CAVA Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisors Capital Management LLC increased its stake in CAVA Group by 12.2% during the 3rd quarter. Advisors Capital Management LLC now owns 26,028 shares of the company’s stock valued at $1,572,000 after purchasing an additional 2,836 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of CAVA Group by 3.5% during the third quarter. Vanguard Group Inc. now owns 9,345,976 shares of the company’s stock valued at $564,590,000 after buying an additional 313,938 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its position in shares of CAVA Group by 21.2% during the third quarter. Northwestern Mutual Investment Management Company LLC now owns 22,228 shares of the company’s stock valued at $1,343,000 after acquiring an additional 3,894 shares in the last quarter. Fifth Third Bancorp raised its holdings in CAVA Group by 344.9% in the 3rd quarter. Fifth Third Bancorp now owns 2,011 shares of the company’s stock worth $121,000 after acquiring an additional 1,559 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its holdings in CAVA Group by 3.7% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 32,979 shares of the company’s stock worth $1,992,000 after acquiring an additional 1,179 shares during the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Company Profile

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.