CAVA Group, Inc. (NYSE:CAVA) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of CAVA Group, Inc. (NYSE:CAVA) have been given a consensus recommendation of “Moderate Buy” by the seventeen brokerages that are presently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $123.00.

A number of brokerages recently weighed in on CAVA. Bank of America lifted their price objective on shares of CAVA Group from $112.00 to $121.00 and gave the company a “buy” rating in a report on Monday, May 19th. TD Securities restated a “buy” rating and set a $120.00 price objective on shares of CAVA Group in a report on Friday, May 16th. JPMorgan Chase & Co. upgraded CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 price target on the stock in a research note on Thursday, March 20th. Barclays dropped their target price on shares of CAVA Group from $104.00 to $90.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. Finally, Sanford C. Bernstein raised shares of CAVA Group from a “market perform” rating to an “outperform” rating and set a $115.00 target price on the stock in a research report on Wednesday, April 23rd.

CAVA Group Stock Performance

Shares of CAVA stock opened at $74.65 on Monday. The stock has a 50 day moving average price of $87.44 and a 200 day moving average price of $103.81. The firm has a market capitalization of $8.63 billion, a P/E ratio of 162.28 and a beta of 2.77. CAVA Group has a 52-week low of $70.00 and a 52-week high of $172.43.

CAVA Group (NYSE:CAVA) last released its earnings results on Thursday, May 15th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.08. The business had revenue of $331.83 million during the quarter, compared to the consensus estimate of $327.98 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The business’s revenue for the quarter was up 28.1% compared to the same quarter last year. During the same period last year, the company earned $0.12 earnings per share. As a group, sell-side analysts forecast that CAVA Group will post 0.5 EPS for the current year.

Insider Transactions at CAVA Group

In other CAVA Group news, insider Kelly Costanza sold 10,243 shares of the firm’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $86.63, for a total value of $887,351.09. Following the completion of the sale, the insider now owns 125,347 shares of the company’s stock, valued at approximately $10,858,810.61. This trade represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Theodoros Xenohristos sold 9,348 shares of the business’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $94.88, for a total value of $886,938.24. Following the sale, the insider now owns 353,271 shares in the company, valued at $33,518,352.48. The trade was a 2.58% decrease in their position. The disclosure for this sale can be found here. Insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

Several institutional investors and hedge funds have recently made changes to their positions in CAVA. Utah Retirement Systems grew its stake in CAVA Group by 2.5% during the 4th quarter. Utah Retirement Systems now owns 4,100 shares of the company’s stock valued at $462,000 after purchasing an additional 100 shares during the last quarter. Whittier Trust Co. raised its stake in shares of CAVA Group by 80.9% in the fourth quarter. Whittier Trust Co. now owns 284 shares of the company’s stock worth $32,000 after purchasing an additional 127 shares during the last quarter. Mainstream Capital Management LLC lifted its holdings in shares of CAVA Group by 0.7% during the fourth quarter. Mainstream Capital Management LLC now owns 17,758 shares of the company’s stock worth $2,003,000 after purchasing an additional 132 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in CAVA Group by 37.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 530 shares of the company’s stock valued at $46,000 after buying an additional 144 shares during the last quarter. Finally, Miracle Mile Advisors LLC lifted its stake in CAVA Group by 1.9% during the 1st quarter. Miracle Mile Advisors LLC now owns 8,247 shares of the company’s stock valued at $713,000 after acquiring an additional 150 shares during the period. 73.15% of the stock is currently owned by institutional investors and hedge funds.

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.