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

CAVA Group (NYSE:CAVA) had its price target upped by investment analysts at KeyCorp from $65.00 to $95.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s target price would indicate a potential upside of 19.39% from the stock’s previous close.

A number of other analysts have also recently issued reports on the company. Stifel Nicolaus set a $75.00 price objective on CAVA Group in a research report on Wednesday, November 5th. Royal Bank Of Canada lifted their price target on CAVA Group from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. UBS Group boosted their price target on CAVA Group from $69.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Johnson Rice set a $72.00 price objective on shares of CAVA Group in a research report on Monday, January 5th. Finally, Truist Financial boosted their target price on shares of CAVA Group from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.82.

CAVA Group Stock Performance

Shares of CAVA opened at $79.57 on Tuesday. The company has a market capitalization of $9.26 billion, a PE ratio of 147.35, a PEG ratio of 6.63 and a beta of 2.16. The company’s 50 day moving average price is $67.51 and its 200 day moving average price is $61.87. CAVA Group has a 52 week low of $43.41 and a 52 week high of $101.50.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, February 24th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. CAVA Group had a net margin of 5.40% and a return on equity of 8.43%. The company had revenue of $274.99 million during the quarter, compared to analyst estimates of $268.04 million. During the same quarter last year, the business posted $0.05 EPS. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. On average, equities analysts forecast 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, CAO Adam David Phillips sold 774 shares of the stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total transaction of $48,096.36. Following the transaction, the chief accounting officer owned 10,435 shares in the company, valued at $648,430.90. This trade represents a 6.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brett Schulman sold 4,542 shares of CAVA Group stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $282,239.88. Following the completion of the transaction, the chief executive officer directly owned 802,783 shares in the company, valued at approximately $49,884,935.62. This represents a 0.56% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 39,055 shares of company stock worth $2,572,303. 6.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CAVA Group

A number of hedge funds have recently bought and sold shares of CAVA. Global Retirement Partners LLC acquired a new stake in shares of CAVA Group in the second quarter worth $463,000. Valeo Financial Advisors LLC bought a new stake in CAVA Group in the 2nd quarter valued at $57,824,000. Renaissance Capital LLC grew its position in CAVA Group by 42.7% in the 3rd quarter. Renaissance Capital LLC now owns 105,730 shares of the company’s stock worth $6,387,000 after purchasing an additional 31,651 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of CAVA Group by 57.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 222,499 shares of the company’s stock worth $13,441,000 after purchasing an additional 81,393 shares during the period. Finally, William Blair Investment Management LLC acquired a new position in shares of CAVA Group during the third quarter valued at about $114,098,000. 73.15% of the stock is currently owned by institutional investors.

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.