CAVA Group, Inc. (NYSE:CAVA) Receives $93.19 Consensus PT from Brokerages

CAVA Group, Inc. (NYSE:CAVA) has earned a consensus rating of “Moderate Buy” from the twenty-eight analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $93.1852.

CAVA has been the topic of several recent analyst reports. Citigroup increased their target price on shares of CAVA Group from $75.00 to $92.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. DA Davidson increased their target price on shares of CAVA Group from $80.00 to $84.00 and gave the stock a “neutral” rating in a research note on Thursday, May 21st. JPMorgan Chase & Co. raised their price objective on shares of CAVA Group from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, April 24th. BNP Paribas Exane assumed coverage on shares of CAVA Group in a research report on Monday, March 30th. They set a “neutral” rating and a $91.00 price objective on the stock. Finally, BMO Capital Markets set a $100.00 price objective on shares of CAVA Group in a research report on Wednesday, May 20th.

CAVA Group Price Performance

NYSE CAVA opened at $77.47 on Monday. CAVA Group has a 1 year low of $43.41 and a 1 year high of $98.79. The stock has a market capitalization of $9.02 billion, a PE ratio of 148.99, a P/E/G ratio of 5.36 and a beta of 1.90. The company’s 50 day simple moving average is $84.37 and its two-hundred day simple moving average is $70.77.

CAVA Group (NYSE:CAVA) last posted its earnings results on Tuesday, May 19th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.03. CAVA Group had a net margin of 4.79% and a return on equity of 7.92%. The business had revenue of $438.27 million for the quarter, compared to analysts’ expectations of $360.89 million. During the same period in the prior year, the company posted $0.22 EPS. The business’s revenue for the quarter was up 32.1% compared to the same quarter last year. On average, research analysts anticipate that CAVA Group will post 0.54 EPS for the current year.

Insider Activity

In other news, CAO Adam David Phillips sold 5,181 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $77.14, for a total transaction of $399,662.34. Following the sale, the chief accounting officer owned 9,505 shares in the company, valued at approximately $733,215.70. This trade represents a 35.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Theodoros Xenohristos sold 9,044 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $79.75, for a total transaction of $721,259.00. Following the sale, the insider owned 327,882 shares in the company, valued at approximately $26,148,589.50. This trade represents a 2.68% 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. In the last quarter, insiders have sold 24,235 shares of company stock worth $1,920,420. 6.70% of the stock is currently owned by corporate insiders.

Institutional Trading of CAVA Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cornerstone Planning Group LLC raised its position in CAVA Group by 378.7% in the 3rd quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock worth $27,000 after purchasing an additional 356 shares during the period. Los Angeles Capital Management LLC purchased a new position in CAVA Group in the 4th quarter worth $25,000. Harbor Investment Advisory LLC raised its position in CAVA Group by 347.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock worth $30,000 after purchasing an additional 400 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in CAVA Group in the 3rd quarter worth $36,000. Finally, TD Private Client Wealth LLC raised its position in CAVA Group by 118.2% in the 4th quarter. TD Private Client Wealth LLC now owns 600 shares of the company’s stock worth $35,000 after purchasing an additional 325 shares during the period. Hedge funds and other institutional investors 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.