Benchmark Issues Positive Forecast for CAVA Group (NYSE:CAVA) Stock Price

CAVA Group (NYSE:CAVA) had its target price hoisted by investment analysts at Benchmark from $80.00 to $110.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s target price suggests a potential upside of 16.04% from the company’s current price.

Several other brokerages also recently issued reports on CAVA. Wolfe Research began coverage on shares of CAVA Group in a research report on Monday, March 9th. They issued an “outperform” rating and a $93.00 price objective for the company. Telsey Advisory Group increased their target price on CAVA Group from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of CAVA Group in a research note on Wednesday, January 21st. Sanford C. Bernstein increased their target price on CAVA Group from $75.00 to $84.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Finally, Johnson Rice set a $72.00 target price on CAVA Group in a research note on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, CAVA Group has an average rating of “Moderate Buy” and a consensus price target of $88.15.

CAVA Group Stock Up 0.0%

Shares of NYSE:CAVA opened at $94.80 on Monday. CAVA Group has a 52-week low of $43.41 and a 52-week high of $101.50. The company has a 50 day moving average of $79.34 and a two-hundred day moving average of $65.99. The company has a market capitalization of $11.03 billion, a price-to-earnings ratio of 175.55, a price-to-earnings-growth ratio of 8.04 and a beta of 2.03.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. CAVA Group had a net margin of 5.40% and a return on equity of 8.43%. The company had revenue of $274.99 million during the quarter, compared to the consensus estimate of $268.04 million. During the same quarter last year, the company earned $0.05 earnings per share. CAVA Group’s revenue for the quarter was up 20.9% on a year-over-year basis. On average, equities analysts anticipate that CAVA Group will post 0.5 earnings per share for the current year.

Insider Activity

In related news, insider Kelly Costanza sold 1,707 shares of the firm’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total transaction of $106,072.98. Following the transaction, the insider directly owned 119,139 shares in the company, valued at $7,403,297.46. This trade represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Theodoros Xenohristos sold 1,039 shares of the firm’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total value of $64,563.46. Following the transaction, the insider owned 332,205 shares in the company, valued at $20,643,218.70. This trade represents a 0.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 39,055 shares of company stock valued at $2,572,303 over the last three months. 12.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CAVA Group

Several large investors have recently added to or reduced their stakes in CAVA. Los Angeles Capital Management LLC bought a new position in CAVA Group during the fourth quarter worth $25,000. Cornerstone Planning Group LLC lifted its stake in CAVA Group by 378.7% during the third quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock worth $27,000 after purchasing an additional 356 shares during the last quarter. Harbor Investment Advisory LLC lifted its stake in CAVA Group by 347.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock worth $30,000 after purchasing an additional 400 shares during the last quarter. Toth Financial Advisory Corp lifted its stake in CAVA Group by 656.7% during the third quarter. Toth Financial Advisory Corp now owns 507 shares of the company’s stock worth $31,000 after purchasing an additional 440 shares during the last quarter. Finally, Western Pacific Wealth Management LP bought a new position in CAVA Group during the third quarter worth $33,000. 73.15% of the stock is currently 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.