CAVA Group (NYSE:CAVA) Upgraded to Strong-Buy at Robert W. Baird

CAVA Group (NYSE:CAVA) was upgraded by stock analysts at Robert W. Baird to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

A number of other analysts have also issued reports on CAVA. Wall Street Zen raised shares of CAVA Group from a “sell” rating to a “hold” rating in a research note on Sunday, May 24th. Piper Sandler raised their price target on shares of CAVA Group from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. BMO Capital Markets set a $100.00 price objective on shares of CAVA Group in a report on Wednesday, May 20th. KeyCorp lowered their price objective on shares of CAVA Group from $110.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, August 12th. Finally, Citigroup restated a “buy” rating on shares of CAVA Group in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, CAVA Group presently has an average rating of “Moderate Buy” and an average price target of $89.44.

CAVA Group Price Performance

CAVA Group stock opened at $69.25 on Monday. The company’s 50-day moving average is $71.28 and its 200 day moving average is $77.39. CAVA Group has a 1-year low of $43.41 and a 1-year high of $98.79. The firm has a market capitalization of $8.09 billion, a P/E ratio of 125.92, a price-to-earnings-growth ratio of 4.95 and a beta of 1.74.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. CAVA Group had a return on equity of 8.28% and a net margin of 4.82%.The company had revenue of $368.44 million during the quarter, compared to analysts’ expectations of $360.09 million. During the same quarter in the previous year, the business earned $0.16 EPS. CAVA Group’s revenue was up 31.3% compared to the same quarter last year. Research analysts anticipate that CAVA Group will post 0.53 earnings per share for the current fiscal year.

Insider Buying and Selling at CAVA Group

In other news, insider Theodoros Xenohristos sold 3,252 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $89.43, for a total transaction of $290,826.36. Following the transaction, the insider owned 324,630 shares of the company’s stock, valued at approximately $29,031,660.90. This represents a 0.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Brett Schulman sold 33,174 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $89.43, for a total value of $2,966,750.82. Following the transaction, the chief executive officer owned 798,669 shares in the company, valued at approximately $71,424,968.67. This represents a 3.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 67,512 shares of company stock worth $6,050,417. Insiders own 6.70% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

Large investors have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of CAVA Group in the 2nd quarter worth approximately $757,013,000. Capital Research Global Investors increased its holdings in CAVA Group by 27.2% during the fourth quarter. Capital Research Global Investors now owns 8,440,040 shares of the company’s stock valued at $495,344,000 after buying an additional 1,805,174 shares during the period. California State Teachers Retirement System increased its holdings in CAVA Group by 7,511.4% during the second quarter. California State Teachers Retirement System now owns 8,436,678 shares of the company’s stock valued at $662,110,000 after buying an additional 8,325,836 shares during the period. Capital International Investors raised its stake in CAVA Group by 15.5% in the fourth quarter. Capital International Investors now owns 4,885,317 shares of the company’s stock worth $286,718,000 after buying an additional 656,581 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in CAVA Group by 33.7% during the fourth quarter. Morgan Stanley now owns 3,318,894 shares of the company’s stock worth $194,786,000 after buying an additional 835,628 shares during the period. Institutional investors 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.