CAVA Group, Inc. (NYSE:CAVA) Receives Average Rating of “Moderate Buy” from Analysts

CAVA Group, Inc. (NYSE:CAVA) has earned a consensus rating of “Moderate Buy” from the twenty-eight analysts that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $93.3846.

A number of brokerages recently issued reports on CAVA. Roth Capital reiterated a “buy” rating and issued a $106.00 target price on shares of CAVA Group in a research report on Wednesday, May 20th. Sanford C. Bernstein reissued an “outperform” rating and issued a $95.00 price objective on shares of CAVA Group in a research note on Wednesday, May 20th. Barclays raised their price objective on shares of CAVA Group from $70.00 to $74.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 20th. Royal Bank Of Canada lifted their price objective on shares of CAVA Group from $100.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 20th. Finally, Freedom Capital upgraded shares of CAVA Group to a “hold” rating in a report on Wednesday, July 1st.

CAVA Group Trading Up 0.7%

Shares of NYSE:CAVA opened at $72.70 on Tuesday. The firm’s 50 day moving average is $79.32 and its two-hundred day moving average is $76.94. The firm has a market capitalization of $8.47 billion, a P/E ratio of 139.81, a PEG ratio of 4.95 and a beta of 1.69. CAVA Group has a 52 week low of $43.41 and a 52 week high of $98.79.

CAVA Group (NYSE:CAVA) last posted its earnings results on Tuesday, May 19th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.17 by $0.03. The firm had revenue of $438.27 million for the quarter, compared to analysts’ expectations of $360.89 million. CAVA Group had a return on equity of 7.92% and a net margin of 4.79%.The firm’s revenue was up 32.1% compared to the same quarter last year. During the same period last year, the firm earned $0.22 EPS. Analysts predict that CAVA Group will post 0.55 EPS for the current year.

Insider Buying and Selling at CAVA Group

In related news, insider Kelly Costanza sold 12,490 shares of CAVA Group stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $90.00, for a total value of $1,124,100.00. Following the transaction, the insider directly owned 98,490 shares in the company, valued at $8,864,100. The trade was a 11.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Theodoros Xenohristos sold 3,252 shares of CAVA Group stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $89.43, for a total value of $290,826.36. Following the completion of the transaction, the insider directly owned 324,630 shares in the company, valued at $29,031,660.90. This represents a 0.99% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 91,747 shares of company stock worth $7,970,838. 6.70% of the stock is owned by insiders.

Institutional Investors Weigh In On CAVA Group

Large investors have recently made changes to their positions in the company. E. Ohman J or Asset Management AB boosted its stake in CAVA Group by 15.3% in the 2nd quarter. E. Ohman J or Asset Management AB now owns 47,370 shares of the company’s stock worth $3,718,000 after purchasing an additional 6,281 shares during the period. Handelsbanken Fonder AB boosted its position in shares of CAVA Group by 11.6% in the second quarter. Handelsbanken Fonder AB now owns 32,600 shares of the company’s stock worth $2,558,000 after buying an additional 3,400 shares during the period. Norman Fields Gottscho Capital Management LLC boosted its position in shares of CAVA Group by 3.3% in the second quarter. Norman Fields Gottscho Capital Management LLC now owns 34,237 shares of the company’s stock worth $2,687,000 after buying an additional 1,080 shares during the period. FNY Investment Advisers LLC purchased a new position in shares of CAVA Group during the second quarter valued at $31,000. Finally, Harbor Investment Advisory LLC grew its holdings in shares of CAVA Group by 1,148.7% during the second quarter. Harbor Investment Advisory LLC now owns 1,436 shares of the company’s stock valued at $113,000 after buying an additional 1,321 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.