CAVA Group (NYSE:CAVA) Research Coverage Started at Truist Financial

Truist Financial began coverage on shares of CAVA Group (NYSE:CAVA) in a research report sent to investors on Thursday, Marketbeat.com reports. The brokerage issued a buy rating and a $66.00 price target on the stock.

Several other equities analysts have also recently commented on the stock. Sanford C. Bernstein dropped their target price on shares of CAVA Group from $100.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $68.00 price target on shares of CAVA Group in a research report on Wednesday, November 5th. Weiss Ratings reissued a “hold (c)” rating on shares of CAVA Group in a research report on Wednesday, October 8th. Cfra Research upgraded CAVA Group to a “strong-buy” rating in a research note on Thursday, August 14th. Finally, Barclays lowered their target price on 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. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $81.00.

CAVA Group Trading Down 2.0%

NYSE CAVA opened at $53.41 on Thursday. The business has a fifty day simple moving average of $55.74 and a 200 day simple moving average of $69.67. CAVA Group has a 12 month low of $43.41 and a 12 month high of $151.91. The firm has a market capitalization of $6.20 billion, a P/E ratio of 46.04, a PEG ratio of 3.02 and a beta of 2.51.

CAVA Group (NYSE:CAVA) last posted its earnings results on Tuesday, November 4th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $292.88 million. During the same quarter in the previous year, the company earned $0.15 EPS. The business’s revenue was up 19.9% compared to the same quarter last year. As a group, sell-side analysts predict that CAVA Group will post 0.5 EPS for the current fiscal year.

Insider Transactions at CAVA Group

In other news, insider Kenneth Robert Bertram sold 3,788 shares of CAVA Group stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $50.70, for a total value of $192,051.60. Following the completion of the transaction, the insider owned 51,143 shares in the company, valued at $2,592,950.10. This trade represents a 6.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CAVA. Strategic Investment Solutions Inc. IL bought a new stake in CAVA Group during the 3rd quarter valued at $36,000. Swiss Life Asset Management Ltd grew its position in shares of CAVA Group by 72.0% in the third quarter. Swiss Life Asset Management Ltd now owns 4,148 shares of the company’s stock valued at $251,000 after purchasing an additional 1,736 shares in the last quarter. Trust Investment Advisors raised its stake in shares of CAVA Group by 96.7% during the 3rd quarter. Trust Investment Advisors now owns 11,199 shares of the company’s stock valued at $677,000 after purchasing an additional 5,506 shares during the period. Liontrust Investment Partners LLP purchased a new stake in CAVA Group during the 3rd quarter worth about $43,189,000. Finally, Sunbelt Securities Inc. lifted its holdings in CAVA Group by 400.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 2,000 shares of the company’s stock worth $121,000 after purchasing an additional 1,600 shares in the last quarter. 73.15% of the stock is owned by institutional investors.

CAVA Group Company Profile

CAVA Group, Inc owns and operates a chain of restaurants under the CAVA brand in the United States. The company also offers dips, spreads, and dressings through grocery stores. In addition, the company provides online and mobile ordering platforms. Cava Group, Inc was founded in 2006 and is headquartered in Washington, the District of Columbia.