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

CAVA Group, Inc. (NYSE:CAVA) has been assigned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $82.75.

CAVA has been the subject of several recent research reports. TD Cowen boosted their target price on shares of CAVA Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Argus raised shares of CAVA Group from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research report on Wednesday, April 10th. Citigroup boosted their target price on shares of CAVA Group from $60.00 to $81.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 21st. Barclays boosted their target price on shares of CAVA Group from $58.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. Finally, Piper Sandler downgraded shares of CAVA Group from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $63.00 to $92.00 in a report on Thursday, May 30th.

CAVA Group Stock Performance

CAVA Group stock opened at $78.24 on Friday. The firm has a market cap of $8.92 billion and a PE ratio of 190.83. The firm’s 50 day moving average price is $87.68 and its two-hundred day moving average price is $69.21. CAVA Group has a twelve month low of $29.05 and a twelve month high of $98.69.

CAVA Group (NYSE:CAVA) last posted its earnings results on Tuesday, May 28th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.04 by $0.08. The company had revenue of $259.01 million during the quarter, compared to the consensus estimate of $246.02 million. CAVA Group had a net margin of 3.75% and a return on equity of 5.18%. The firm’s quarterly revenue was up 27.5% compared to the same quarter last year. Equities analysts anticipate that CAVA Group will post 0.34 EPS for the current fiscal year.

Insider Activity at CAVA Group

In related news, insider Kenneth Robert Bertram sold 5,250 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $95.28, for a total transaction of $500,220.00. Following the completion of the transaction, the insider now directly owns 67,005 shares in the company, valued at approximately $6,384,236.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Ronald M. Shaich sold 1,231,979 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $87.25, for a total value of $107,490,167.75. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at approximately $436,250. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Kenneth Robert Bertram sold 5,250 shares of the stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $95.28, for a total transaction of $500,220.00. Following the completion of the transaction, the insider now owns 67,005 shares of the company’s stock, valued at approximately $6,384,236.40. The disclosure for this sale can be found here. Insiders sold a total of 1,420,564 shares of company stock worth $124,690,835 in the last ninety days.

Hedge Funds Weigh In On CAVA Group

Hedge funds have recently made changes to their positions in the business. Private Advisor Group LLC increased its position in shares of CAVA Group by 69.1% during the 1st quarter. Private Advisor Group LLC now owns 33,619 shares of the company’s stock worth $2,355,000 after purchasing an additional 13,739 shares in the last quarter. CHURCHILL MANAGEMENT Corp acquired a new stake in shares of CAVA Group during the 1st quarter worth about $3,213,000. Swiss National Bank acquired a new stake in shares of CAVA Group during the 4th quarter worth about $1,926,000. Stephens Inc. AR acquired a new stake in shares of CAVA Group during the 4th quarter worth about $1,014,000. Finally, Virtu Financial LLC acquired a new stake in shares of CAVA Group during the 4th quarter worth about $240,000. Institutional investors and hedge funds own 73.15% of the company’s stock.

CAVA Group Company Profile

CAVA Group, Inc owns and operates a chain of restaurants under the CAVA brand in the United States. The company also offers dips, spreads, and dressings through grocery stores. In addition, the company provides online and mobile ordering platforms. Cava Group, Inc was founded in 2006 and is headquartered in Washington, the District of Columbia.