CAVA Group (NYSE:CAVA) Price Target Raised to $80.00

CAVA Group (NYSE:CAVA) had its price objective upped by Mizuho from $72.00 to $80.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities research analysts have also recently commented on CAVA. Barclays boosted their price target on CAVA Group from $52.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 7th. Johnson Rice set a $72.00 target price on shares of CAVA Group in a research note on Monday, January 5th. TD Cowen boosted their target price on shares of CAVA Group from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Morgan Stanley increased their price target on shares of CAVA Group from $80.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 25th. Finally, UBS Group raised their price target 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. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $85.92.

CAVA Group Trading Down 0.1%

Shares of NYSE:CAVA opened at $79.51 on Thursday. The firm has a market cap of $9.25 billion, a price-to-earnings ratio of 147.25, a P/E/G ratio of 6.79 and a beta of 2.03. CAVA Group has a 1 year low of $43.41 and a 1 year high of $101.50. The business has a fifty day simple moving average of $74.59 and a 200 day simple moving average of $64.28.

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

Insider Buying and Selling at CAVA Group

In related news, insider Theodoros Xenohristos sold 1,039 shares of the firm’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total value of $64,563.46. Following the transaction, the insider directly owned 332,205 shares in the company, valued at approximately $20,643,218.70. This trade represents a 0.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Kenneth Robert Bertram sold 994 shares of CAVA Group stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total transaction of $61,767.16. Following the completion of the transaction, the insider owned 49,122 shares in the company, valued at $3,052,441.08. This trade represents a 1.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 39,055 shares of company stock worth $2,572,303 in the last quarter. 6.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CAVA Group

Institutional investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC bought a new stake in CAVA Group during the 4th quarter valued at approximately $25,000. Cornerstone Planning Group LLC lifted 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 worth $27,000 after buying an additional 356 shares during the last quarter. Harbor Investment Advisory LLC lifted its holdings in shares of CAVA Group by 347.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock worth $30,000 after buying an additional 400 shares during the last quarter. Toth Financial Advisory Corp boosted its position in shares of 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 during the period. Finally, Western Pacific Wealth Management LP bought a new stake in shares of CAVA Group in the third quarter valued at approximately $33,000. 73.15% of the stock is currently owned by institutional investors.

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.