CAVA Group, Inc. (NYSE:CAVA) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of CAVA Group, Inc. (NYSE:CAVA) have earned a consensus recommendation of “Moderate Buy” from the twenty-four research firms that are covering the stock, Marketbeat Ratings reports. Nine analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $81.00.

A number of equities research analysts have recently weighed in on the company. Royal Bank Of Canada set a $70.00 target price on CAVA Group in a report on Wednesday, November 5th. Argus lowered their price target on shares of CAVA Group from $76.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Barclays cut their price objective on shares of CAVA Group from $64.00 to $52.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th. Sanford C. Bernstein lowered their target price on shares of CAVA Group from $100.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, November 5th. Finally, UBS Group dropped their price target 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%

CAVA Group stock opened at $61.66 on Friday. The company has a market capitalization of $7.15 billion, a price-to-earnings ratio of 53.16, a PEG ratio of 3.48 and a beta of 2.51. CAVA Group has a 12 month low of $43.41 and a 12 month high of $144.49. The stock’s 50 day moving average is $53.70 and its 200-day moving average is $67.19.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results 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). The firm had revenue of $292.24 million for the quarter, compared to analyst estimates of $292.88 million. CAVA Group had a return on equity of 8.88% and a net margin of 12.14%.The business’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.15 earnings per share. As a group, equities research analysts predict that CAVA Group will post 0.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CAVA Group news, insider Kenneth Robert Bertram sold 3,788 shares of CAVA Group stock in a transaction on 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 transaction, the insider directly owned 51,143 shares of the company’s stock, valued at $2,592,950.10. The trade was a 6.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Bison Wealth LLC bought a new stake in CAVA Group during the fourth quarter worth about $208,000. Wellington Management Group LLP bought a new position in CAVA Group in the 1st quarter valued at about $3,866,000. Ameriprise Financial Inc. raised its position in shares of CAVA Group by 4,432.3% in the 1st quarter. Ameriprise Financial Inc. now owns 654,279 shares of the company’s stock valued at $56,537,000 after buying an additional 639,843 shares in the last quarter. AlphaQuest LLC lifted its holdings in shares of CAVA Group by 2,396.1% during the 1st quarter. AlphaQuest LLC now owns 1,922 shares of the company’s stock worth $166,000 after acquiring an additional 1,845 shares during the period. Finally, Synovus Financial Corp lifted its holdings in shares of CAVA Group by 32.8% during the 1st quarter. Synovus Financial Corp now owns 6,665 shares of the company’s stock worth $576,000 after acquiring an additional 1,646 shares during the period. 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.