Stifel Nicolaus Issues Positive Forecast for CAVA Group (NYSE:CAVA) Stock Price

CAVA Group (NYSE:CAVAGet Free Report) had its price target hoisted by stock analysts at Stifel Nicolaus from $90.00 to $105.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 34.53% from the company’s previous close.

Several other equities research analysts have also recently weighed in on CAVA. TD Cowen raised their price objective on shares of CAVA Group from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Wall Street Zen downgraded CAVA Group from a “hold” rating to a “sell” rating in a report on Saturday. Guggenheim started coverage on CAVA Group in a report on Thursday, March 26th. They set a “buy” rating and a $100.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on CAVA Group from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Finally, Truist Financial upped their price objective on CAVA Group from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $90.12.

Check Out Our Latest Analysis on CAVA Group

CAVA Group Stock Performance

CAVA Group stock opened at $78.05 on Wednesday. The firm has a market cap of $9.09 billion, a P/E ratio of 144.54, a P/E/G ratio of 5.62 and a beta of 1.90. The business’s fifty day moving average is $84.98 and its two-hundred day moving average is $69.27. CAVA Group has a 52 week low of $43.41 and a 52 week high of $98.79.

CAVA Group (NYSE:CAVAGet Free Report) last posted its quarterly earnings data on Tuesday, May 19th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.03. The firm had revenue of $438.27 million during the quarter, compared to analysts’ expectations of $418.46 million. CAVA Group had a net margin of 5.40% and a return on equity of 8.43%. The company’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.22 EPS. On average, equities research analysts predict that CAVA Group will post 0.52 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Theodoros Xenohristos sold 9,044 shares of CAVA Group stock in a transaction on Monday, May 11th. The stock was sold at an average price of $79.75, for a total transaction of $721,259.00. Following the completion of the sale, the insider directly owned 327,882 shares of the company’s stock, valued at $26,148,589.50. The trade was a 2.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 6.70% of the stock is owned by corporate insiders.

Institutional Trading of CAVA Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Liontrust Investment Partners LLP acquired a new stake in CAVA Group in the 3rd quarter valued at about $43,189,000. Leibman Financial Services Inc. lifted its stake in CAVA Group by 162.9% in the 4th quarter. Leibman Financial Services Inc. now owns 67,324 shares of the company’s stock valued at $3,951,000 after purchasing an additional 41,712 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of CAVA Group by 118.3% during the 3rd quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company’s stock worth $178,432,000 after acquiring an additional 1,600,630 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of CAVA Group by 57.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 222,499 shares of the company’s stock worth $13,441,000 after acquiring an additional 81,393 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of CAVA Group by 20.4% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 103,706 shares of the company’s stock worth $6,265,000 after acquiring an additional 17,600 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

Key Stories Impacting CAVA Group

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CAVA Group Company Profile

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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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