CAVA Group, Inc. (NYSE:CAVA) Receives $81.00 Consensus PT from Analysts

CAVA Group, Inc. (NYSE:CAVA) has earned a consensus rating of “Moderate Buy” from the twenty-four ratings firms that are currently covering the stock, MarketBeat.com reports. Nine analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $81.00.

A number of equities research analysts recently commented on the stock. Barclays lowered their price objective on shares of CAVA Group from $64.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 5th. Mizuho upgraded shares of CAVA Group to a “hold” rating in a research report on Tuesday, October 28th. Truist Financial raised shares of CAVA Group to a “strong-buy” rating in a research note on Tuesday, December 9th. Sanford C. Bernstein reduced their target price on CAVA Group from $100.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. Finally, Morgan Stanley set a $86.00 target price on CAVA Group in a report on Wednesday, November 5th.

Insider Activity at CAVA Group

In related news, insider Kenneth Robert Bertram sold 3,788 shares of CAVA Group stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $50.70, for a total transaction of $192,051.60. Following the completion of the sale, the insider owned 51,143 shares in the company, valued at approximately $2,592,950.10. This trade represents a 6.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 12.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp acquired a new position in shares of CAVA Group in the second quarter valued at approximately $31,000. Cornerstone Planning Group LLC grew its stake in CAVA Group by 378.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock worth $27,000 after acquiring an additional 356 shares during the period. Fifth Third Bancorp purchased a new stake in CAVA Group in the 2nd quarter worth approximately $38,000. Whittier Trust Co. raised its holdings in CAVA Group by 60.9% in the 2nd quarter. Whittier Trust Co. now owns 457 shares of the company’s stock valued at $38,000 after acquiring an additional 173 shares during the last quarter. Finally, Toth Financial Advisory Corp lifted its stake in shares of CAVA Group by 656.7% during the 3rd quarter. Toth Financial Advisory Corp now owns 507 shares of the company’s stock worth $31,000 after purchasing an additional 440 shares during the period. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

CAVA Group Price Performance

NYSE CAVA opened at $58.37 on Friday. The business has a 50 day moving average price of $53.45 and a 200 day moving average price of $66.67. The company has a market capitalization of $6.77 billion, a P/E ratio of 50.32, a PEG ratio of 3.38 and a beta of 2.51. CAVA Group has a 1-year low of $43.41 and a 1-year high of $144.49.

CAVA Group (NYSE:CAVA) last posted its earnings results on Tuesday, November 4th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). CAVA Group had a return on equity of 8.88% and a net margin of 12.14%.The firm had revenue of $292.24 million for the quarter, compared to analysts’ expectations of $292.88 million. During the same quarter in the previous year, the firm posted $0.15 earnings per share. The firm’s revenue for the quarter was up 19.9% compared to the same quarter last year. On average, research analysts expect that CAVA Group will post 0.5 earnings per share for the current fiscal year.

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.