TD Cowen Reiterates “Buy” Rating for CAVA Group (NYSE:CAVA)

CAVA Group (NYSE:CAVA)‘s stock had its “buy” rating reissued by equities research analysts at TD Cowen in a note issued to investors on Thursday,Benzinga reports. They currently have a $100.00 price target on the stock. TD Cowen’s price target suggests a potential upside of 39.34% from the company’s current price.

CAVA has been the subject of several other research reports. Truist Financial lifted their target price on shares of CAVA Group from $80.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Citigroup lifted their target price on shares of CAVA Group from $75.00 to $92.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Barclays lifted their target price on shares of CAVA Group from $70.00 to $74.00 and gave the company an “equal weight” rating in a report on Wednesday, May 20th. Northcoast Research upgraded shares of CAVA Group to a “strong sell” rating in a research note on Tuesday, April 21st. Finally, Stifel Nicolaus boosted their price target on shares of CAVA Group from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $93.19.

CAVA Group Trading Up 0.6%

CAVA Group stock traded up $0.44 during trading on Thursday, hitting $71.77. The company had a trading volume of 559,378 shares, compared to its average volume of 3,382,943. CAVA Group has a 1-year low of $43.41 and a 1-year high of $98.79. The company’s 50 day simple moving average is $83.56 and its 200-day simple moving average is $71.43. The stock has a market cap of $8.36 billion, a price-to-earnings ratio of 138.02, a price-to-earnings-growth ratio of 4.97 and a beta of 1.70.

CAVA Group (NYSE:CAVA) last posted its earnings results 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. CAVA Group had a net margin of 4.79% and a return on equity of 7.92%. The firm had revenue of $438.27 million during the quarter, compared to the consensus estimate of $360.89 million. During the same quarter last year, the firm earned $0.22 EPS. The firm’s revenue for the quarter was up 32.1% on a year-over-year basis. As a group, analysts forecast that CAVA Group will post 0.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CAVA Group news, insider Theodoros Xenohristos sold 9,044 shares of the business’s stock in a transaction 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 transaction, the insider owned 327,882 shares in the company, valued at $26,148,589.50. The trade was a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Adam David Phillips sold 5,181 shares of the business’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $77.14, for a total transaction of $399,662.34. Following the completion of the transaction, the chief accounting officer owned 9,505 shares of the company’s stock, valued at approximately $733,215.70. This trade represents a 35.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 24,235 shares of company stock worth $1,920,420 over the last 90 days. Corporate insiders own 6.70% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

Institutional investors have recently modified their holdings of the company. Los Angeles Capital Management LLC purchased a new stake in shares of CAVA Group during the 4th quarter worth $25,000. Cornerstone Planning Group LLC lifted its position in shares of CAVA Group by 378.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock worth $27,000 after purchasing an additional 356 shares during the last quarter. Harbor Investment Advisory LLC lifted its position in shares of CAVA Group by 347.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock worth $30,000 after purchasing an additional 400 shares during the last quarter. TD Private Client Wealth LLC lifted its position in shares of CAVA Group by 118.2% during the 4th quarter. TD Private Client Wealth LLC now owns 600 shares of the company’s stock worth $35,000 after purchasing an additional 325 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of CAVA Group during the 3rd quarter worth $36,000. 73.15% of the stock is owned by hedge funds and other institutional investors.

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.