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

CAVA Group, Inc. (NYSE:CAVA) has received a consensus recommendation of “Moderate Buy” from the sixteen analysts that are currently covering the firm, MarketBeat reports. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $143.80.

CAVA has been the subject of a number of research analyst reports. Citigroup upped their price target on shares of CAVA Group from $140.00 to $163.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Loop Capital raised their target price on shares of CAVA Group from $122.00 to $147.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Stifel Nicolaus upped their price target on CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. TD Cowen raised their price objective on CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Piper Sandler boosted their target price on CAVA Group from $100.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th.

CAVA Group Trading Up 1.7 %

Shares of NYSE:CAVA opened at $119.05 on Monday. The company has a 50 day moving average of $136.66 and a 200-day moving average of $114.43. The firm has a market cap of $13.64 billion, a P/E ratio of 258.80 and a beta of 2.93. CAVA Group has a twelve month low of $39.05 and a twelve month high of $172.43.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.04. The company had revenue of $243.82 million for the quarter, compared to analysts’ expectations of $233.05 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The firm’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same period last year, the firm earned $0.06 EPS. Equities research analysts forecast that CAVA Group will post 0.5 EPS for the current year.

Insider Transactions at CAVA Group

In other news, Director Karen Kochevar sold 15,000 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $142.23, for a total transaction of $2,133,450.00. Following the transaction, the director now owns 1,307 shares in the company, valued at $185,894.61. This represents a 91.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ronald M. Shaich sold 622,549 shares of CAVA Group stock in a transaction on Monday, December 9th. The shares were sold at an average price of $149.40, for a total transaction of $93,008,820.60. Following the completion of the sale, the director now directly owns 6,307 shares of the company’s stock, valued at approximately $942,265.80. The trade was a 99.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 652,549 shares of company stock valued at $97,242,271 in the last three months. Corporate insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On CAVA Group

Institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC raised its stake in shares of CAVA Group by 121.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock valued at $151,492,000 after acquiring an additional 669,599 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of CAVA Group by 102.5% in the second quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock valued at $82,770,000 after purchasing an additional 451,800 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of CAVA Group by 262.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock worth $63,918,000 after buying an additional 373,835 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in shares of CAVA Group by 17.0% during the 3rd quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock worth $273,820,000 after buying an additional 321,800 shares during the period. Finally, State Street Corp grew its stake in CAVA Group by 33.3% in the 3rd quarter. State Street Corp now owns 1,267,333 shares of the company’s stock valued at $156,959,000 after buying an additional 316,514 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors.

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.