CAVA Group, Inc. (NYSE:CAVA) Given Average Recommendation of “Moderate Buy” by Brokerages

CAVA Group, Inc. (NYSE:CAVA) has been given an average rating of “Moderate Buy” by the sixteen ratings firms that are currently covering the firm, MarketBeat reports. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $115.64.

CAVA has been the subject of several research analyst reports. Morgan Stanley downgraded CAVA Group from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $90.00 to $110.00 in a research note on Thursday, August 29th. Citigroup lifted their target price on CAVA Group from $93.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Loop Capital lifted their target price on CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a research note on Monday, August 26th. Robert W. Baird lifted their target price on CAVA Group from $105.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Finally, Wedbush lifted their target price on CAVA Group from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd.

Insider Buying and Selling

In related news, CFO Tricia K. Tolivar sold 5,000 shares of CAVA Group stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.64, for a total transaction of $628,200.00. Following the completion of the sale, the chief financial officer now directly owns 292,600 shares of the company’s stock, valued at approximately $36,762,264. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other CAVA Group news, CFO Tricia K. Tolivar sold 5,000 shares of CAVA Group stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.64, for a total value of $628,200.00. Following the completion of the transaction, the chief financial officer now directly owns 292,600 shares of the company’s stock, valued at $36,762,264. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brett Schulman sold 201,504 shares of CAVA Group stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.53, for a total value of $25,294,797.12. Following the completion of the transaction, the chief executive officer now directly owns 702,590 shares of the company’s stock, valued at $88,196,122.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 304,994 shares of company stock valued at $38,310,084.

Hedge Funds Weigh In On CAVA Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Private Advisor Group LLC raised its holdings 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 buying an additional 13,739 shares in the last quarter. Xponance Inc. raised its holdings in shares of CAVA Group by 95.2% during the 2nd quarter. Xponance Inc. now owns 9,846 shares of the company’s stock worth $913,000 after buying an additional 4,803 shares in the last quarter. CHURCHILL MANAGEMENT Corp acquired a new position in shares of CAVA Group during the 1st quarter worth $3,213,000. Stephens Inc. AR acquired a new position in shares of CAVA Group during the 4th quarter worth $1,014,000. Finally, Intech Investment Management LLC acquired a new position in shares of CAVA Group during the 2nd quarter worth $1,728,000. 73.15% of the stock is owned by institutional investors and hedge funds.

CAVA Group Stock Up 4.7 %

CAVA stock opened at $131.97 on Wednesday. The business has a 50 day moving average price of $111.51 and a two-hundred day moving average price of $90.53. The company has a market cap of $15.05 billion, a price-to-earnings ratio of 321.88 and a beta of 3.33. CAVA Group has a twelve month low of $29.66 and a twelve month high of $133.54.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. The firm had revenue of $233.50 million during the quarter, compared to the consensus estimate of $219.47 million. CAVA Group had a return on equity of 7.37% and a net margin of 5.04%. The business’s revenue was up 35.1% compared to the same quarter last year. During the same period last year, the company earned $0.21 earnings per share. On average, equities research analysts anticipate that CAVA Group will post 0.43 EPS for the current fiscal year.

About CAVA Group

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.