CAVA Group (NYSE:CAVA) Research Coverage Started at Telsey Advisory Group

Telsey Advisory Group started coverage on shares of CAVA Group (NYSE:CAVA) in a report released on Friday morning, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $85.00 price objective on the stock.

A number of other equities research analysts also recently weighed in on CAVA. Barclays upped their target price on CAVA Group from $52.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 7th. Piper Sandler cut their price objective on CAVA Group from $100.00 to $71.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Morgan Stanley set a $86.00 target price on CAVA Group in a research note on Wednesday, November 5th. KeyCorp dropped their price target on shares of CAVA Group from $85.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Finally, Cowen reissued a “buy” rating on shares of CAVA Group in a report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, CAVA Group presently has an average rating of “Moderate Buy” and an average target price of $81.83.

CAVA Group Trading Up 1.8%

CAVA Group stock opened at $70.82 on Friday. The stock has a market cap of $8.21 billion, a price-to-earnings ratio of 61.05, a PEG ratio of 3.60 and a beta of 2.41. The company’s 50-day moving average price is $54.07 and its two-hundred day moving average price is $66.11. CAVA Group has a 52 week low of $43.41 and a 52 week high of $144.49.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The company 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% on a year-over-year basis. During the same period in the prior year, the company posted $0.15 earnings per share. Research analysts expect 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 business’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $50.70, for a total transaction of $192,051.60. Following the sale, the insider owned 51,143 shares in the company, valued at approximately $2,592,950.10. The trade was a 6.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

A number of large investors have recently made changes to their positions in the company. Quadcap Wealth Management LLC boosted its stake in CAVA Group by 1.4% in the 2nd quarter. Quadcap Wealth Management LLC now owns 8,966 shares of the company’s stock worth $755,000 after purchasing an additional 124 shares during the period. McDonough Capital Management Inc lifted its holdings in shares of CAVA Group by 4.7% in the second quarter. McDonough Capital Management Inc now owns 2,910 shares of the company’s stock valued at $245,000 after purchasing an additional 131 shares in the last quarter. Tsfg LLC boosted its position in shares of CAVA Group by 19.1% in the second quarter. Tsfg LLC now owns 937 shares of the company’s stock worth $79,000 after buying an additional 150 shares during the period. Baltimore Washington Financial Advisors Inc. boosted its position in shares of CAVA Group by 5.6% in the second quarter. Baltimore Washington Financial Advisors Inc. now owns 2,810 shares of the company’s stock worth $237,000 after buying an additional 150 shares during the period. Finally, D.A. Davidson & CO. grew its holdings in shares of CAVA Group by 0.4% during the second quarter. D.A. Davidson & CO. now owns 34,342 shares of the company’s stock valued at $2,893,000 after buying an additional 153 shares in the last quarter. Institutional investors and hedge funds 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.