CAVA Group (NYSE:CAVA) Stock Rating Upgraded by Freedom Capital

CAVA Group (NYSE:CAVA) was upgraded by analysts at Freedom Capital to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. Northcoast Research raised shares of CAVA Group to a “strong sell” rating in a research note on Tuesday, April 21st. JPMorgan Chase & Co. increased their price target on shares of CAVA Group from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, April 24th. Royal Bank Of Canada lifted their target price on CAVA Group from $100.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, May 20th. Stifel Nicolaus upped their price target on CAVA Group from $90.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Finally, Telsey Advisory Group raised their price target on CAVA Group from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $93.44.

CAVA Group Stock Performance

Shares of NYSE:CAVA opened at $76.74 on Wednesday. The business has a fifty day moving average of $82.43 and a 200-day moving average of $76.16. CAVA Group has a twelve month low of $43.41 and a twelve month high of $98.79. The firm has a market cap of $8.94 billion, a PE ratio of 147.57, a price-to-earnings-growth ratio of 5.47 and a beta of 1.68.

CAVA Group (NYSE:CAVA) last issued its quarterly 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 the consensus estimate of $360.89 million. During the same quarter in the prior year, the company earned $0.22 EPS. The firm’s quarterly revenue was up 32.1% on a year-over-year basis. On average, analysts anticipate that CAVA Group will post 0.55 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Theodoros Xenohristos sold 9,044 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $79.75, for a total value of $721,259.00. Following the transaction, the insider directly owned 327,882 shares in the company, valued at $26,148,589.50. This trade represents a 2.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Karen Kochevar sold 10,000 shares of CAVA Group stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $90.00, for a total value of $900,000.00. Following the sale, the director directly owned 3,074 shares of the company’s stock, valued at approximately $276,660. This trade represents a 76.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 91,747 shares of company stock worth $7,970,838 over the last 90 days. 6.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CAVA Group

Several institutional investors have recently modified their holdings of CAVA. Los Angeles Capital Management LLC bought a new stake in shares of CAVA Group in the 4th quarter valued at about $25,000. Harbor Investment Advisory LLC boosted its stake in CAVA Group by 347.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock worth $30,000 after acquiring an additional 400 shares during the last quarter. TD Private Client Wealth LLC boosted its stake in CAVA Group by 118.2% during the 4th quarter. TD Private Client Wealth LLC now owns 600 shares of the company’s stock worth $35,000 after acquiring an additional 325 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in CAVA Group during the third quarter valued at approximately $36,000. Finally, Allworth Financial LP grew its holdings in CAVA Group by 57.4% during the fourth quarter. Allworth Financial LP now owns 650 shares of the company’s stock valued at $38,000 after purchasing an additional 237 shares during the period. 73.15% of the stock is currently owned by institutional investors and hedge funds.

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.