CAVA Group (NYSE:CAVA – Free Report) had its target price raised by Royal Bank Of Canada from $90.00 to $100.00 in a report released on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.
Several other analysts also recently commented on CAVA. Barclays increased their target price on shares of CAVA Group from $52.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, January 7th. TD Cowen upped their price objective on shares of CAVA Group from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. The Goldman Sachs Group increased their price objective on shares of CAVA Group from $75.00 to $86.00 and gave the company a “neutral” rating in a research note on Monday, April 13th. Morgan Stanley lifted their target price on shares of CAVA Group from $83.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 21st. Finally, Wolfe Research initiated coverage on CAVA Group in a research note on Monday, March 9th. They issued an “outperform” rating and a $93.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.07.
Check Out Our Latest Stock Report on CAVA Group
CAVA Group Price Performance
CAVA Group (NYSE:CAVA – Get Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. CAVA Group had a return on equity of 8.43% and a net margin of 5.40%.The business had revenue of $274.99 million during the quarter, compared to the consensus estimate of $268.04 million. During the same quarter in the prior year, the company posted $0.05 earnings per share. CAVA Group’s revenue was up 20.9% compared to the same quarter last year. On average, equities research analysts expect that CAVA Group will post 0.52 earnings per share for the current year.
Institutional Trading of CAVA Group
Hedge funds have recently added to or reduced their stakes in the stock. Pittenger & Anderson Inc. purchased a new position in CAVA Group in the first quarter valued at about $189,000. Fifth Third Bancorp increased its stake in shares of CAVA Group by 1,327.8% during the 1st quarter. Fifth Third Bancorp now owns 36,709 shares of the company’s stock worth $2,970,000 after purchasing an additional 34,138 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of CAVA Group in the 1st quarter worth approximately $235,000. DMC Group LLC lifted its stake in CAVA Group by 11.1% in the first quarter. DMC Group LLC now owns 4,918 shares of the company’s stock valued at $398,000 after purchasing an additional 492 shares during the last quarter. Finally, Granite Investment Partners LLC purchased a new position in CAVA Group in the first quarter valued at approximately $282,000. Institutional investors own 73.15% of the company’s stock.
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.
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