CAVA Group (NYSE:CAVA – Free Report) had its target price trimmed by Mizuho from $56.00 to $54.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.
CAVA has been the topic of a number of other research reports. Wall Street Zen lowered CAVA Group from a “hold” rating to a “sell” rating in a research report on Saturday, November 7th. Wolfe Research lifted their price objective on CAVA Group from $79.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Northcoast Research upgraded CAVA Group from a “sell” rating to a “neutral” rating in a research report on Thursday, August 13th. Telsey Advisory Group lowered their target price on CAVA Group from $95.00 to $76.00 and set an “outperform” rating for the company in a research note on Thursday, November 5th. Finally, Robert W. Baird upgraded shares of CAVA Group to a “strong-buy” rating in a report on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, CAVA Group has an average rating of “Moderate Buy” and an average price target of $83.81.
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CAVA Group Stock Down 0.9%
CAVA opened at $59.86 on Monday. CAVA Group has a 12 month low of $43.41 and a 12 month high of $98.79. The company has a fifty day simple moving average of $55.50 and a 200 day simple moving average of $71.01. The stock has a market cap of $6.99 billion, a P/E ratio of 110.85, a P/E/G ratio of 4.72 and a beta of 1.75.
CAVA Group (NYSE:CAVA – Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.01). CAVA Group had a return on equity of 7.87% and a net margin of 4.50%. The business had revenue of $356.44 million for the quarter, compared to analyst estimates of $358.40 million. During the same period in the previous year, the business posted $0.12 EPS. The business’s quarterly revenue was up 21.0% compared to the same quarter last year. On average, equities research analysts expect that CAVA Group will post 0.53 earnings per share for the current fiscal year.
CAVA Group announced that its Board of Directors has initiated a share repurchase program on Friday, September 18th that permits the company to repurchase $100 million in outstanding shares. This buyback authorization permits the company to buy up to 1.7% of its shares through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.
Insider Activity at CAVA Group
In other CAVA Group news, insider Douglas Thompson bought 6,500 shares of the stock in a transaction dated Monday, August 31st. The shares were bought at an average cost of $66.52 per share, with a total value of $432,380.00. Following the completion of the acquisition, the insider owned 19,371 shares of the company’s stock, valued at $1,288,558.92. This trade represents a 50.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 6.70% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the business. Trillium Asset Management LLC acquired a new stake in CAVA Group during the 2nd quarter worth approximately $3,279,000. Oppenheimer Asset Management Inc. bought a new stake in CAVA Group in the second quarter worth approximately $1,551,000. Prospect Financial Services LLC bought a new position in CAVA Group during the second quarter worth $1,348,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in CAVA Group in the 2nd quarter valued at about $6,833,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of CAVA Group during the second quarter worth approximately $2,492,000. Institutional investors and hedge funds own 73.15% of the company’s stock.
About CAVA Group
CAVA Group operates CAVA, a fast-casual restaurant brand focused on Mediterranean-inspired food. Its menu includes customizable bowls, pitas and salads, along with dips, spreads, sides and beverages. The business began in 2006 with a Mediterranean restaurant in Rockville, Maryland, founded by childhood friends Brett Schulman, Dimitri Moshovitis and Ted Xenohristos. CAVA has since grown into a restaurant chain serving customers in multiple U.S. states. Co-founder Brett Schulman serves as CAVA Group’s chief executive officer.
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