Benchmark Issues Positive Forecast for CAVA Group (NYSE:CAVA) Stock Price

CAVA Group (NYSE:CAVA) had its price target hoisted by analysts at Benchmark from $80.00 to $110.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s target price would suggest a potential upside of 16.04% from the company’s current price.

A number of other research analysts have also issued reports on the stock. UBS Group upped their target price on shares of CAVA Group from $69.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. Wolfe Research assumed coverage on shares of CAVA Group in a research note on Monday, March 9th. They set an “outperform” rating and a $93.00 price objective for the company. KeyCorp upped their price objective on shares of CAVA Group from $95.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday. TD Cowen upped their price objective on shares of CAVA Group from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Finally, Guggenheim assumed coverage on shares of CAVA Group in a research note on Thursday, March 26th. They set a “buy” rating and a $100.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $88.15.

CAVA Group Trading Up 0.0%

NYSE:CAVA opened at $94.80 on Monday. The firm has a market cap of $11.03 billion, a price-to-earnings ratio of 175.55, a price-to-earnings-growth ratio of 8.04 and a beta of 2.03. The company’s 50-day moving average is $79.34 and its two-hundred day moving average is $65.99. CAVA Group has a 12-month low of $43.41 and a 12-month high of $101.50.

CAVA Group (NYSE:CAVA) last released its earnings results on Tuesday, February 24th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The company had revenue of $274.99 million for the quarter, compared to analyst estimates of $268.04 million. CAVA Group had a net margin of 5.40% and a return on equity of 8.43%. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 EPS. On average, equities research analysts forecast that CAVA Group will post 0.5 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Theodoros Xenohristos sold 1,039 shares of the stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $64,563.46. Following the completion of the sale, the insider owned 332,205 shares of the company’s stock, valued at approximately $20,643,218.70. This represents a 0.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Adam David Phillips sold 774 shares of the stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total transaction of $48,096.36. Following the sale, the chief accounting officer directly owned 10,435 shares of the company’s stock, valued at approximately $648,430.90. This trade represents a 6.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 39,055 shares of company stock worth $2,572,303. Insiders own 12.10% of the company’s stock.

Institutional Trading of CAVA Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Cornerstone Planning Group LLC increased its position in CAVA Group by 378.7% during 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 in the last quarter. Los Angeles Capital Management LLC acquired a new stake in CAVA Group in the fourth quarter valued at approximately $25,000. Toth Financial Advisory Corp grew its position in CAVA Group by 656.7% in the third quarter. Toth Financial Advisory Corp now owns 507 shares of the company’s stock valued at $31,000 after acquiring an additional 440 shares in the last quarter. Harbor Investment Advisory LLC grew its position in CAVA Group by 347.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock valued at $30,000 after acquiring an additional 400 shares in the last quarter. Finally, Western Pacific Wealth Management LP acquired a new stake in CAVA Group in the third quarter valued at approximately $33,000. Institutional investors and hedge funds own 73.15% of the company’s stock.

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.