CAVA Group, Inc. (NYSE:CAVA) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of CAVA Group, Inc. (NYSE:CAVA) have earned a consensus rating of “Moderate Buy” from the twenty-four research firms that are covering the stock, Marketbeat.com reports. Nine research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $81.00.

A number of equities research analysts recently commented on CAVA shares. Mizuho upgraded CAVA Group to a “hold” rating in a report on Tuesday, October 28th. 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 report on Wednesday, November 5th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $68.00 price target on shares of CAVA Group in a research note on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of CAVA Group in a research report on Wednesday, October 8th. Finally, UBS Group lowered their price objective on shares of CAVA Group from $75.00 to $61.00 and set a “neutral” rating for the company in a research report on Monday, November 3rd.

CAVA Group Trading Up 3.9%

Shares of NYSE CAVA opened at $61.66 on Friday. The firm has a market capitalization of $7.15 billion, a PE ratio of 53.16, a price-to-earnings-growth ratio of 3.48 and a beta of 2.51. CAVA Group has a 1 year low of $43.41 and a 1 year high of $144.49. The firm’s 50-day moving average is $53.70 and its 200-day moving average is $67.19.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). CAVA Group had a net margin of 12.14% and a return on equity of 8.88%. The business had revenue of $292.24 million during the quarter, compared to analyst estimates of $292.88 million. During the same quarter in the prior year, the company earned $0.15 earnings per share. The company’s quarterly revenue was up 19.9% on a year-over-year basis. As a group, equities research analysts anticipate that CAVA Group will post 0.5 earnings per share for the current fiscal year.

Insider Transactions at CAVA Group

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

Hedge Funds Weigh In On CAVA Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Atlantic Union Bankshares Corp acquired a new stake in CAVA Group during the 2nd quarter worth approximately $31,000. Cornerstone Planning Group LLC increased its position in shares of CAVA Group by 378.7% during the third quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock worth $27,000 after acquiring an additional 356 shares in the last quarter. Fifth Third Bancorp acquired a new stake in shares of CAVA Group during the second quarter worth $38,000. Whittier Trust Co. lifted its position 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 in the last quarter. Finally, Toth Financial Advisory Corp boosted its stake in CAVA Group by 656.7% in 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 institutional investors and hedge funds.

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.