CAVA Group (NYSE:CAVA) Upgraded to “Hold” at Freedom Capital

CAVA Group (NYSE:CAVA) was upgraded by research analysts at Freedom Capital to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other equities analysts have also weighed in on the company. Guggenheim initiated coverage on CAVA Group in a research note on Thursday, March 26th. They set a “buy” rating and a $100.00 price objective for the company. BMO Capital Markets set a $100.00 target price on CAVA Group in a report on Wednesday, May 20th. Wall Street Zen upgraded CAVA Group from a “sell” rating to a “hold” rating in a research report on Sunday, May 24th. KeyCorp boosted their price target on CAVA Group from $95.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, April 20th. Finally, Mizuho upped their price objective on CAVA Group from $72.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, CAVA Group currently has an average rating of “Moderate Buy” and an average target price of $93.44.

CAVA Group Price Performance

NYSE:CAVA opened at $76.74 on Wednesday. The firm has a market capitalization of $8.94 billion, a P/E ratio of 147.57, a PEG ratio of 5.47 and a beta of 1.68. CAVA Group has a 1-year low of $43.41 and a 1-year high of $98.79. The company’s fifty day moving average price is $82.43 and its 200-day moving average price is $76.16.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, May 19th. The company reported $0.20 earnings per share (EPS) for the quarter, topping 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 $360.89 million. CAVA Group had a net margin of 4.79% and a return on equity of 7.92%. The firm’s revenue was up 32.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.22 earnings per share. Equities analysts anticipate that CAVA Group will post 0.55 EPS for the current fiscal year.

Insider Buying and Selling

In other CAVA Group news, CEO Brett Schulman sold 33,174 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $89.43, for a total transaction of $2,966,750.82. Following the transaction, the chief executive officer owned 798,669 shares in the company, valued at approximately $71,424,968.67. This represents a 3.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Theodoros Xenohristos sold 9,044 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $79.75, for a total value of $721,259.00. Following the completion of the sale, the insider directly owned 327,882 shares in the company, valued at approximately $26,148,589.50. The trade was a 2.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 91,747 shares of company stock worth $7,970,838 in the last ninety days. 6.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CAVA Group

Institutional investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC acquired a new position in CAVA Group during the fourth quarter worth $25,000. Harbor Investment Advisory LLC grew its position in shares of CAVA Group by 347.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock valued at $30,000 after purchasing an additional 400 shares during the period. TD Private Client Wealth LLC grew its position in shares of CAVA Group by 118.2% in the fourth quarter. TD Private Client Wealth LLC now owns 600 shares of the company’s stock valued at $35,000 after purchasing an additional 325 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in shares of CAVA Group during the third quarter worth about $36,000. Finally, Allworth Financial LP raised its position in shares of CAVA Group by 57.4% during the 4th quarter. Allworth Financial LP now owns 650 shares of the company’s stock worth $38,000 after purchasing an additional 237 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

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.