CAVA Group (NYSE:CAVA) Price Target Raised to $70.00

CAVA Group (NYSE:CAVA) had its target price lifted by Barclays from $52.00 to $70.00 in a research note released on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

Other analysts also recently issued reports about the company. Johnson Rice set a $72.00 price objective on CAVA Group in a research report on Monday. Argus lowered their price target on CAVA Group from $76.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, November 13th. TD Cowen lowered their price target on shares of CAVA Group from $80.00 to $67.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Mizuho upgraded shares of CAVA Group to a “hold” rating in a research note on Tuesday, October 28th. Finally, Citigroup restated a “neutral” rating on shares of CAVA Group in a research note on Wednesday, November 12th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $81.83.

CAVA Group Stock Up 1.8%

Shares of CAVA Group stock opened at $70.82 on Wednesday. The firm has a market cap of $8.21 billion, a price-to-earnings ratio of 61.05, a price-to-earnings-growth ratio of 3.54 and a beta of 2.41. The company’s 50-day simple moving average is $54.07 and its 200-day simple moving average is $66.22. CAVA Group has a 52-week low of $43.41 and a 52-week high of $144.49.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The business had revenue of $292.24 million during the quarter, compared to analysts’ expectations of $292.88 million. CAVA Group had a net margin of 12.14% and a return on equity of 8.88%. The firm’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.15 earnings per share. Equities research analysts anticipate that CAVA Group will post 0.5 EPS for the current year.

Insider Activity at CAVA Group

In related news, insider Kenneth Robert Bertram sold 3,788 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $50.70, for a total transaction of $192,051.60. Following the transaction, the insider directly owned 51,143 shares of the company’s stock, valued at approximately $2,592,950.10. The trade was a 6.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

A number of large investors have recently bought and sold shares of the business. Bison Wealth LLC bought a new position in shares of CAVA Group in the fourth quarter valued at approximately $208,000. Integrated Wealth Concepts LLC increased its holdings in shares of CAVA Group by 36.9% in the first quarter. Integrated Wealth Concepts LLC now owns 9,139 shares of the company’s stock valued at $790,000 after purchasing an additional 2,461 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in CAVA Group by 12.3% in the first quarter. NewEdge Advisors LLC now owns 17,590 shares of the company’s stock valued at $1,520,000 after acquiring an additional 1,924 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in CAVA Group by 1,785.1% in the first quarter. Jones Financial Companies Lllp now owns 67,843 shares of the company’s stock valued at $5,862,000 after buying an additional 64,244 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in CAVA Group by 14.3% in the first quarter. Goldman Sachs Group Inc. now owns 606,780 shares of the company’s stock valued at $52,432,000 after purchasing an additional 75,828 shares during the last quarter. 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.