CAVA Group (NYSE:CAVA) Price Target Raised to $80.00

CAVA Group (NYSE:CAVA) had its target price raised by stock analysts at Mizuho from $72.00 to $80.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Mizuho’s price target indicates a potential downside of 0.45% from the company’s previous close.

Several other analysts have also commented on CAVA. Benchmark raised CAVA Group to a “strong-buy” rating in a research note on Thursday, February 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of CAVA Group in a research note on Wednesday, January 21st. Royal Bank Of Canada boosted their target price on CAVA Group from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Guggenheim assumed coverage on CAVA Group in a report on Thursday, March 26th. They set a “buy” rating and a $100.00 price target for the company. Finally, Piper Sandler boosted their price objective on CAVA Group from $71.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $85.54.

CAVA Group Stock Down 0.7%

Shares of CAVA opened at $80.36 on Thursday. The stock’s 50-day moving average price is $74.06 and its 200 day moving average price is $64.04. The firm has a market capitalization of $9.35 billion, a price-to-earnings ratio of 148.82, a P/E/G ratio of 6.90 and a beta of 2.02. CAVA Group has a 12-month low of $43.41 and a 12-month high of $101.50.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The company had revenue of $274.99 million during the quarter, compared to analysts’ expectations of $268.04 million. CAVA Group had a net margin of 5.40% and a return on equity of 8.43%. The business’s revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.05 EPS. Equities research analysts expect that CAVA Group will post 0.5 EPS for the current year.

Insider Transactions at CAVA Group

In other news, insider Kenneth Robert Bertram sold 1,074 shares of CAVA Group stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $67.41, for a total transaction of $72,398.34. Following the transaction, the insider owned 50,116 shares in the company, valued at $3,378,319.56. The trade was a 2.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brett Schulman sold 21,650 shares of the stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $67.41, for a total value of $1,459,426.50. Following the transaction, the chief executive officer owned 807,325 shares of the company’s stock, valued at approximately $54,421,778.25. This trade represents a 2.61% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 39,055 shares of company stock valued at $2,572,303. Corporate insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Liontrust Investment Partners LLP bought a new stake in shares of CAVA Group in the 3rd quarter valued at about $43,189,000. Valeo Financial Advisors LLC acquired a new stake in shares of CAVA Group during the second quarter worth $57,824,000. Leibman Financial Services Inc. grew its position in shares of CAVA Group by 162.9% during the 4th quarter. Leibman Financial Services Inc. now owns 67,324 shares of the company’s stock worth $3,951,000 after purchasing an additional 41,712 shares in the last quarter. Renaissance Capital LLC increased its stake in CAVA Group by 42.7% during the 3rd quarter. Renaissance Capital LLC now owns 105,730 shares of the company’s stock worth $6,387,000 after acquiring an additional 31,651 shares during the period. Finally, Alliancebernstein L.P. raised its stake in CAVA Group by 118.3% in the third 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. Institutional investors own 73.15% of the company’s stock.

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.