Analysts Set CAVA Group, Inc. (NYSE:CAVA) PT at $93.37

Shares of CAVA Group, Inc. (NYSE:CAVAGet Free Report) have been given an average recommendation of “Moderate Buy” by the twenty-eight research firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation, seventeen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $93.3704.

A number of equities analysts have recently commented on the company. Truist Financial raised their price target on CAVA Group from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Barclays boosted their price target on shares of CAVA Group from $70.00 to $74.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 20th. Piper Sandler upped their target price on shares of CAVA Group from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. Roth Mkm reiterated a “buy” rating and issued a $106.00 target price on shares of CAVA Group in a research report on Wednesday, May 20th. Finally, Stifel Nicolaus upped their target price on shares of CAVA Group from $90.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th.

Get Our Latest Research Report on CAVA Group

Insider Buying and Selling

In related news, CAO Adam David Phillips sold 5,181 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $77.14, for a total value of $399,662.34. Following the completion of the transaction, the chief accounting officer directly owned 9,505 shares in the company, valued at approximately $733,215.70. The trade was a 35.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Theodoros Xenohristos sold 9,044 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $79.75, for a total transaction of $721,259.00. Following the completion of the transaction, the insider owned 327,882 shares of the company’s stock, valued at $26,148,589.50. This trade represents a 2.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 91,747 shares of company stock valued at $7,970,838 in the last three months. 6.70% of the stock is owned by corporate insiders.

Institutional Trading of CAVA Group

Several institutional investors have recently added to or reduced their stakes in CAVA. Capital International Investors boosted its position in CAVA Group by 105.4% during the third quarter. Capital International Investors now owns 4,228,736 shares of the company’s stock valued at $255,451,000 after buying an additional 2,169,553 shares during the period. William Blair Investment Management LLC purchased a new stake in CAVA Group during the third quarter valued at about $114,098,000. Capital Research Global Investors boosted its position in CAVA Group by 27.2% during the fourth quarter. Capital Research Global Investors now owns 8,440,040 shares of the company’s stock valued at $495,344,000 after buying an additional 1,805,174 shares during the period. Alliancebernstein L.P. boosted its position in CAVA Group by 118.3% during the third quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company’s stock valued at $178,432,000 after buying an additional 1,600,630 shares during the period. Finally, Marshall Wace LLP boosted its position in CAVA Group by 689.8% during the fourth quarter. Marshall Wace LLP now owns 1,387,774 shares of the company’s stock valued at $81,448,000 after buying an additional 1,212,068 shares during the period. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

CAVA Group Trading Down 3.9%

NYSE:CAVA opened at $77.75 on Friday. The stock has a market capitalization of $9.06 billion, a PE ratio of 149.52, a price-to-earnings-growth ratio of 5.54 and a beta of 1.70. The firm’s 50 day moving average is $83.92 and its 200 day moving average is $74.81. CAVA Group has a 12 month low of $43.41 and a 12 month high of $98.79.

CAVA Group (NYSE:CAVAGet Free Report) last posted its quarterly earnings results on Tuesday, May 19th. The company reported $0.20 EPS 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 company had revenue of $438.27 million for the quarter, compared to analysts’ expectations of $360.89 million. During the same quarter in the previous year, the firm posted $0.22 EPS. CAVA Group’s revenue was up 32.1% on a year-over-year basis. Research analysts predict that CAVA Group will post 0.55 earnings per share for the current year.

About CAVA Group

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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.

Further Reading

Analyst Recommendations for CAVA Group (NYSE:CAVA)

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