CAVA Group, Inc. (NYSE:CAVA) Stock Has Average Target Price of $88.64

CAVA Group, Inc. (NYSE:CAVA) has been given a consensus recommendation of “Moderate Buy” by the twenty-seven research firms that are covering the company, MarketBeat reports. Ten research analysts have rated the stock with a hold recommendation, sixteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $88.64.

Several research firms have recently commented on CAVA. Citigroup reaffirmed a “buy” rating on shares of CAVA Group in a research report on Tuesday, July 28th. Guggenheim dropped their price target on CAVA Group from $100.00 to $95.00 and set a “buy” rating for the company in a report on Thursday, August 13th. Freedom Capital upgraded CAVA Group to a “hold” rating in a research note on Wednesday, July 1st. JPMorgan Chase & Co. decreased their price objective on CAVA Group from $85.00 to $80.00 and set an “overweight” rating on the stock in a report on Friday, September 18th. Finally, Roth Capital reiterated a “buy” rating and set a $95.00 price objective (down from $106.00) on shares of CAVA Group in a research report on Wednesday, August 12th.

CAVA Group Stock Performance

NYSE CAVA opened at $53.24 on Friday. The stock has a market cap of $6.22 billion, a PE ratio of 96.81, a P/E/G ratio of 4.01 and a beta of 1.74. The firm has a 50-day moving average of $61.90 and a 200-day moving average of $74.56. CAVA Group has a 52-week low of $43.41 and a 52-week high of $98.79.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $368.44 million for the quarter, compared to analyst estimates of $360.09 million. CAVA Group had a net margin of 4.82% and a return on equity of 8.28%. CAVA Group’s quarterly revenue was up 31.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.16 EPS. As a group, analysts predict that CAVA Group will post 0.55 EPS for the current fiscal year.

CAVA Group announced that its Board of Directors has initiated a share buyback plan on Friday, September 18th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to reacquire up to 1.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Insider Activity at CAVA Group

In other CAVA Group news, insider Douglas Thompson purchased 6,500 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were acquired at an average cost of $66.52 per share, for a total transaction of $432,380.00. Following the completion of the purchase, the insider owned 19,371 shares of the company’s stock, valued at approximately $1,288,558.92. The trade was a 50.50% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.70% of the company’s stock.

Institutional Trading of CAVA Group

A number of institutional investors have recently bought and sold shares of the business. Ancora Advisors LLC bought a new position in shares of CAVA Group during the second quarter worth approximately $27,000. FNY Investment Advisers LLC acquired a new stake in shares of CAVA Group in the second quarter valued at approximately $31,000. Philadelphia Investment Partners LLC bought a new stake in shares of CAVA Group in the second quarter valued at approximately $33,000. EverSource Wealth Advisors LLC boosted its stake in shares of CAVA Group by 115.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 647 shares of the company’s stock valued at $38,000 after buying an additional 347 shares during the period. Finally, Scarborough Advisors LLC bought a new stake in shares of CAVA Group in the first quarter valued at approximately $54,000. Institutional investors own 73.15% of the company’s stock.

About CAVA Group

CAVA Group, Inc is a U.S.-based restaurant company that operates the CAVA fast-casual Mediterranean restaurant brand. Its restaurants offer customizable meals, including grain bowls, salads, pitas, dips, spreads and sides made with Mediterranean-inspired ingredients and flavors. Customers can order meals in restaurants, through digital channels and for catering.

The company’s menu is centered on a build-your-own format, allowing guests to select proteins, grains, greens, toppings, sauces and dips.