CAVA Group (NYSE:CAVA) Stock Price Expected to Rise, Citigroup Analyst Says

CAVA Group (NYSE:CAVA) had its price target upped by analysts at Citigroup from $60.00 to $74.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price target would indicate a potential upside of 16.57% from the company’s current price.

A number of other equities analysts have also weighed in on the stock. Benchmark upgraded shares of CAVA Group to a “strong-buy” rating in a research report on Thursday, February 5th. Piper Sandler decreased their target price on shares of CAVA Group from $100.00 to $71.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Weiss Ratings restated a “hold (c)” rating on shares of CAVA Group in a report on Wednesday, January 21st. Barclays upped their price target on CAVA Group from $52.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 7th. Finally, Sanford C. Bernstein set a $70.00 price objective on CAVA Group in a research report on Wednesday, January 7th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $82.08.

CAVA Group Stock Performance

Shares of CAVA stock opened at $63.48 on Thursday. CAVA Group has a fifty-two week low of $43.41 and a fifty-two week high of $134.73. The stock’s fifty day moving average is $62.68 and its two-hundred day moving average is $62.85. The firm has a market capitalization of $7.36 billion, a P/E ratio of 54.72, a PEG ratio of 4.67 and a beta of 2.41.

Insider Activity

In other CAVA Group news, insider Theodoros Xenohristos sold 1,039 shares of the company’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total transaction of $64,563.46. Following the transaction, the insider directly owned 332,205 shares in the company, valued at $20,643,218.70. This represents a 0.31% 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. Also, insider Kenneth Robert Bertram sold 3,788 shares of the firm’s 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 transaction, the insider owned 51,143 shares of the company’s stock, valued at approximately $2,592,950.10. This represents a 6.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 42,843 shares of company stock worth $2,764,355 in the last three months. 6.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CAVA Group

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