CAVA Group (NYSE:CAVA) Rating Increased to Hold at Freedom Capital

Freedom Capital upgraded shares of CAVA Group (NYSE:CAVAFree Report) to a hold rating in a research note released on Wednesday,Zacks.com reports.

Other analysts also recently issued research reports about the company. Stifel Nicolaus upped their price target on CAVA Group from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. The Goldman Sachs Group raised their price objective on CAVA Group from $75.00 to $86.00 and gave the company a “neutral” rating in a research note on Monday, April 13th. JPMorgan Chase & Co. upped their target price on CAVA Group from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Sanford C. Bernstein reiterated an “outperform” rating and set a $95.00 price target on shares of CAVA Group in a report on Wednesday, May 20th. Finally, Mizuho increased their price target on CAVA Group from $72.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, April 2nd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, CAVA Group currently has an average rating of “Moderate Buy” and an average price target of $93.44.

View Our Latest Research Report on CAVA

CAVA Group Trading Down 3.8%

Shares of NYSE:CAVA opened at $76.74 on Wednesday. The stock has a market capitalization of $8.94 billion, a PE ratio of 147.57, a P/E/G ratio of 5.47 and a beta of 1.68. CAVA Group has a 1 year low of $43.41 and a 1 year high of $98.79. The firm has a fifty day moving average price of $82.43 and a 200 day moving average price of $76.16.

CAVA Group (NYSE:CAVAGet Free Report) last posted its earnings results on Tuesday, May 19th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.17 by $0.03. CAVA Group had a net margin of 4.79% and a return on equity of 7.92%. The firm had revenue of $438.27 million for the quarter, compared to the consensus estimate of $360.89 million. During the same period in the prior year, the business posted $0.22 earnings per share. The business’s quarterly revenue was up 32.1% on a year-over-year basis. On average, sell-side analysts forecast that CAVA Group will post 0.55 earnings per share for the current fiscal year.

Insider Buying and Selling at CAVA Group

In related news, CEO Brett Schulman sold 33,174 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $89.43, for a total transaction of $2,966,750.82. Following the completion of the transaction, the chief executive officer directly owned 798,669 shares in the company, valued at $71,424,968.67. This represents a 3.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Karen Kochevar sold 10,000 shares of the stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $90.00, for a total transaction of $900,000.00. Following the completion of the sale, the director directly owned 3,074 shares of the company’s stock, valued at approximately $276,660. This trade represents a 76.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 91,747 shares of company stock valued at $7,970,838 in the last three months. 6.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Los Angeles Capital Management LLC acquired a new stake in CAVA Group during the fourth quarter worth about $25,000. Harbor Investment Advisory LLC raised its holdings in CAVA Group by 347.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock valued at $30,000 after acquiring an additional 400 shares in the last quarter. TD Private Client Wealth LLC lifted its position in shares of CAVA Group by 118.2% in the 4th quarter. TD Private Client Wealth LLC now owns 600 shares of the company’s stock worth $35,000 after acquiring an additional 325 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in shares of CAVA Group in the 3rd quarter worth approximately $36,000. Finally, Allworth Financial LP grew its holdings in shares of CAVA Group by 57.4% during the 4th quarter. Allworth Financial LP now owns 650 shares of the company’s stock worth $38,000 after purchasing an additional 237 shares in the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

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.

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