CAVA Group (NYSE:CAVA) Price Target Raised to $95.00

CAVA Group (NYSE:CAVA) had its target price increased by KeyCorp from $65.00 to $95.00 in a report published on Tuesday morning,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Several other equities research analysts also recently commented on the stock. Citigroup boosted their target price on shares of CAVA Group from $74.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Telsey Advisory Group boosted their price target on shares of CAVA Group from $85.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $68.00 price objective on shares of CAVA Group in a research note on Wednesday, November 5th. Benchmark upgraded shares of CAVA Group to a “strong-buy” rating in a research note on Thursday, February 5th. Finally, Piper Sandler boosted their target price on CAVA Group from $71.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $83.82.

CAVA Group Trading Down 0.3%

CAVA stock opened at $79.30 on Tuesday. CAVA Group has a 1-year low of $43.41 and a 1-year high of $101.50. The business’s 50 day moving average is $67.86 and its 200-day moving average is $61.99. The firm has a market cap of $9.23 billion, a P/E ratio of 146.85, a P/E/G ratio of 6.84 and a beta of 2.16.

CAVA Group (NYSE:CAVA) last posted its earnings results on Tuesday, February 24th. The company reported $0.04 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 last year, the company earned $0.05 EPS. CAVA Group’s revenue was up 20.9% on a year-over-year basis. Sell-side analysts forecast that CAVA Group will post 0.5 EPS for the current year.

Insider Activity at CAVA Group

In other news, insider Kelly Costanza sold 1,707 shares of the business’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total transaction of $106,072.98. Following the completion of the sale, the insider owned 119,139 shares in the company, valued at $7,403,297.46. The trade was a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kenneth Robert Bertram sold 994 shares of the firm’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total value of $61,767.16. Following the completion of the transaction, the insider owned 49,122 shares in the company, valued at approximately $3,052,441.08. This represents a 1.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 39,055 shares of company stock valued at $2,572,303 over the last quarter. 6.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CAVA Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. Pacer Advisors Inc. lifted its holdings in CAVA Group by 65.6% in the fourth quarter. Pacer Advisors Inc. now owns 21,742 shares of the company’s stock valued at $1,276,000 after buying an additional 8,612 shares during the period. Invesco Ltd. raised its position in shares of CAVA Group by 8.2% during the 4th quarter. Invesco Ltd. now owns 145,565 shares of the company’s stock valued at $8,543,000 after acquiring an additional 11,013 shares during the last quarter. Alberta Investment Management Corp acquired a new position in shares of CAVA Group in the 4th quarter valued at $1,473,000. Mercer Global Advisors Inc. ADV bought a new position in shares of CAVA Group in the 4th quarter worth $323,000. Finally, State of Tennessee Department of Treasury boosted its position in shares of CAVA Group by 4.8% in the 4th quarter. State of Tennessee Department of Treasury now owns 34,021 shares of the company’s stock worth $2,062,000 after purchasing an additional 1,543 shares during the last quarter. 73.15% of the stock is owned by institutional investors.

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.