Barclays Forecasts Strong Price Appreciation for CAVA Group (NYSE:CAVA) Stock

CAVA Group (NYSE:CAVA) had its price objective boosted by equities researchers at Barclays from $52.00 to $70.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 0.67% from the company’s current price.

A number of other brokerages have also issued reports on CAVA. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CAVA Group in a research report on Wednesday, October 8th. Sanford C. Bernstein set a $70.00 price target on shares of CAVA Group in a research note on Wednesday. Mizuho raised shares of CAVA Group to a “hold” rating in a report on Tuesday, October 28th. Truist Financial raised shares of CAVA Group to a “strong-buy” rating in a report on Tuesday, December 9th. Finally, Johnson Rice set a $72.00 target price on shares of CAVA Group in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $81.73.

CAVA Group Price Performance

Shares of CAVA Group stock opened at $69.53 on Wednesday. The business has a 50-day moving average of $53.73 and a 200-day moving average of $66.26. The company has a market capitalization of $8.07 billion, a PE ratio of 59.94, a P/E/G ratio of 3.45 and a beta of 2.41. CAVA Group has a 1-year low of $43.41 and a 1-year high of $144.49.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). The business had revenue of $292.24 million during 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 company’s revenue was up 19.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.15 EPS. On average, equities analysts expect 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 the 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 sale, the insider directly owned 51,143 shares of the company’s stock, valued at $2,592,950.10. This trade represents a 6.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CAVA Group

Institutional investors have recently bought and sold shares of the stock. Atlantic Union Bankshares Corp acquired a new position in CAVA Group during the 2nd quarter valued at about $31,000. Cornerstone Planning Group LLC lifted its position in CAVA Group by 378.7% in the third 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 period. Fifth Third Bancorp bought a new position in CAVA Group during the 2nd quarter valued at $38,000. Whittier Trust Co. increased its position in shares of CAVA Group by 60.9% during the 2nd quarter. Whittier Trust Co. now owns 457 shares of the company’s stock valued at $38,000 after purchasing an additional 173 shares during the period. Finally, Toth Financial Advisory Corp lifted its holdings in shares of CAVA Group by 656.7% in the third quarter. Toth Financial Advisory Corp now owns 507 shares of the company’s stock valued at $31,000 after buying an additional 440 shares during the period. 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.