CAVA Group (NYSE:CAVA) Upgraded at Telsey Advisory Group

CAVA Group (NYSE:CAVA) was upgraded by stock analysts at Telsey Advisory Group to a “strong-buy” rating in a note issued to investors on Friday, MarketBeat reports.

CAVA has been the topic of a number of other research reports. Cowen reaffirmed a “buy” rating on shares of CAVA Group in a report on Monday. Royal Bank Of Canada set a $70.00 price objective on CAVA Group in a research note on Wednesday, November 5th. Johnson Rice set a $72.00 target price on shares of CAVA Group in a research note on Monday. Truist Financial raised their price target on shares of CAVA Group from $66.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Piper Sandler lowered their price objective on shares of CAVA Group from $100.00 to $71.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $81.83.

CAVA Group Price Performance

Shares of CAVA stock opened at $70.82 on Friday. The firm has a fifty day moving average of $54.07 and a two-hundred day moving average of $66.22. The firm has a market cap of $8.21 billion, a P/E ratio of 61.05, a P/E/G ratio of 3.54 and a beta of 2.41. CAVA Group has a 1-year low of $43.41 and a 1-year high of $144.49.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). The company had revenue of $292.24 million for the quarter, compared to the consensus estimate of $292.88 million. CAVA Group had a return on equity of 8.88% and a net margin of 12.14%.The business’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.15 EPS. On average, sell-side analysts expect that CAVA Group will post 0.5 EPS for the current year.

Insider Activity

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Cornerstone Planning Group LLC increased its holdings in shares of CAVA Group by 378.7% during the third quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock valued at $27,000 after purchasing an additional 356 shares during the period. Harbor Investment Advisory LLC increased 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 valued at $30,000 after buying an additional 400 shares during the period. Atlantic Union Bankshares Corp acquired a new position in CAVA Group during the 2nd quarter valued at about $31,000. Toth Financial Advisory Corp raised its position in shares of CAVA Group by 656.7% during the 3rd quarter. Toth Financial Advisory Corp now owns 507 shares of the company’s stock worth $31,000 after buying an additional 440 shares in the last quarter. Finally, Western Pacific Wealth Management LP acquired a new stake in shares of CAVA Group in the 3rd quarter worth 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.