CAVA Group (NYSE:CAVA) Coverage Initiated at The Goldman Sachs Group

Research analysts at The Goldman Sachs Group initiated coverage on shares of CAVA Group (NYSE:CAVA) in a report issued on Monday, MarketBeat reports. The brokerage set a “hold” rating and a $74.00 price target on the stock. The Goldman Sachs Group’s price target indicates a potential upside of 12.93% from the company’s current price.

CAVA has been the subject of several other research reports. Melius assumed coverage on CAVA Group in a report on Monday, July 14th. They issued a “hold” rating and a $95.00 price target for the company. TD Cowen lowered their price target on CAVA Group from $120.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, August 13th. Argus set a $76.00 price target on CAVA Group in a report on Tuesday, September 2nd. Weiss Ratings restated a “hold (c)” rating on shares of CAVA Group in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lowered their price target on CAVA Group from $115.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, June 25th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, CAVA Group has an average rating of “Moderate Buy” and an average price target of $94.26.

CAVA Group Trading Up 5.2%

Shares of CAVA stock opened at $65.53 on Monday. The firm has a 50-day moving average price of $64.96 and a 200 day moving average price of $78.65. CAVA Group has a twelve month low of $58.33 and a twelve month high of $172.43. The company has a market capitalization of $7.60 billion, a price-to-earnings ratio of 55.06, a PEG ratio of 3.19 and a beta of 2.50.

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

Hedge Funds Weigh In On CAVA Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Quadcap Wealth Management LLC lifted its position in CAVA Group by 1.4% during the 2nd quarter. Quadcap Wealth Management LLC now owns 8,966 shares of the company’s stock worth $755,000 after acquiring an additional 124 shares in the last quarter. McDonough Capital Management Inc lifted its position in CAVA Group by 4.7% during the 2nd quarter. McDonough Capital Management Inc now owns 2,910 shares of the company’s stock worth $245,000 after acquiring an additional 131 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in CAVA Group by 37.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 530 shares of the company’s stock worth $46,000 after acquiring an additional 144 shares in the last quarter. Tsfg LLC lifted its position in CAVA Group by 19.1% during the 2nd quarter. Tsfg LLC now owns 937 shares of the company’s stock worth $79,000 after acquiring an additional 150 shares in the last quarter. Finally, Baltimore Washington Financial Advisors Inc. lifted its position in CAVA Group by 5.6% during the 2nd quarter. Baltimore Washington Financial Advisors Inc. now owns 2,810 shares of the company’s stock worth $237,000 after acquiring an additional 150 shares in the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

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.