CAVA Group (NYSE:CAVA) Coverage Initiated by Analysts at Guggenheim

Stock analysts at Guggenheim initiated coverage on shares of CAVA Group (NYSE:CAVA) in a research note issued on Thursday. The firm set a “buy” rating and a $100.00 price target on the stock. Guggenheim’s price target indicates a potential upside of 24.53% from the stock’s current price.

CAVA has been the subject of several other research reports. Royal Bank Of Canada lifted their price target on shares of CAVA Group from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Johnson Rice set a $72.00 target price on CAVA Group in a report on Monday, January 5th. Citigroup increased their price target on CAVA Group from $74.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. Mizuho upped their price objective on shares of CAVA Group from $52.00 to $64.00 and gave the stock a “neutral” rating in a research note on Friday, January 9th. Finally, UBS Group raised their target price on shares of CAVA Group from $69.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, CAVA Group currently has a consensus rating of “Moderate Buy” and an average price target of $84.68.

CAVA Group Trading Down 4.9%

NYSE:CAVA opened at $80.30 on Thursday. The company has a market cap of $9.35 billion, a price-to-earnings ratio of 148.70, a price-to-earnings-growth ratio of 7.20 and a beta of 2.16. CAVA Group has a twelve month low of $43.41 and a twelve month high of $101.50. The stock has a fifty day simple moving average of $73.25 and a 200-day simple moving average of $63.56.

CAVA Group (NYSE:CAVA) last posted its quarterly 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 net margin of 5.40% and a return on equity of 8.43%. The company had revenue of $274.99 million for the quarter, compared to the consensus estimate of $268.04 million. During the same quarter last year, the firm posted $0.05 EPS. The firm’s revenue was up 20.9% compared to the same quarter last year. As a group, equities research analysts predict that CAVA Group will post 0.5 EPS for the current fiscal year.

Insider Activity

In related news, CFO Tricia K. Tolivar sold 2,404 shares of the stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $149,384.56. Following the completion of the sale, the chief financial officer owned 231,934 shares of the company’s stock, valued at $14,412,378.76. This represents a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kenneth Robert Bertram sold 1,074 shares of the firm’s stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $67.41, for a total transaction of $72,398.34. Following the completion of the sale, the insider owned 50,116 shares of the company’s stock, valued at approximately $3,378,319.56. This trade represents a 2.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 39,055 shares of company stock worth $2,572,303 over the last 90 days. 6.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CAVA Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of CAVA Group by 3.5% during the third quarter. Vanguard Group Inc. now owns 9,345,976 shares of the company’s stock valued at $564,590,000 after acquiring an additional 313,938 shares in the last quarter. Capital Research Global Investors boosted its stake in CAVA Group by 27.2% in the 4th quarter. Capital Research Global Investors now owns 8,440,040 shares of the company’s stock worth $495,344,000 after purchasing an additional 1,805,174 shares in the last quarter. Capital International Investors grew its position in CAVA Group by 15.5% during the 4th quarter. Capital International Investors now owns 4,885,317 shares of the company’s stock worth $286,718,000 after purchasing an additional 656,581 shares during the last quarter. Morgan Stanley increased its stake in CAVA Group by 33.7% during the 4th quarter. Morgan Stanley now owns 3,318,894 shares of the company’s stock valued at $194,786,000 after purchasing an additional 835,628 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in CAVA Group by 118.3% during the 3rd quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company’s stock valued at $178,432,000 after purchasing an additional 1,600,630 shares in the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

About CAVA Group

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.