CAVA Group (NYSE:CAVA) Coverage Initiated by Analysts at Barclays

Barclays initiated coverage on shares of CAVA Group (NYSE:CAVA) in a research note released on Monday morning, Marketbeat.com reports. The brokerage issued an equal weight rating and a $58.00 price target on the stock.

Several other equities research analysts also recently weighed in on the stock. Robert W. Baird upped their price objective on shares of CAVA Group from $54.00 to $62.00 and gave the stock an outperform rating in a report on Thursday, February 15th. TD Cowen reaffirmed a buy rating and issued a $63.00 price objective on shares of CAVA Group in a report on Wednesday, April 10th. Piper Sandler upped their price objective on shares of CAVA Group from $46.00 to $63.00 and gave the stock an overweight rating in a report on Wednesday, February 28th. JPMorgan Chase & Co. upped their price objective on shares of CAVA Group from $50.00 to $64.00 and gave the stock an overweight rating in a report on Tuesday, March 19th. Finally, Wedbush reissued an outperform rating and issued a $65.00 price target (up from $59.00) on shares of CAVA Group in a report on Tuesday, February 27th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, CAVA Group presently has an average rating of Moderate Buy and a consensus price target of $60.42.

CAVA Group Price Performance

Shares of CAVA opened at $61.57 on Monday. The firm has a fifty day moving average of $60.95 and a 200-day moving average of $46.06. CAVA Group has a 1 year low of $29.05 and a 1 year high of $71.60.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Monday, February 26th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. The business had revenue of $175.50 million during the quarter, compared to the consensus estimate of $240.03 million. CAVA Group had a net margin of 1.82% and a return on equity of 4.28%. The business’s revenue was up 52.6% compared to the same quarter last year. Analysts expect that CAVA Group will post 0.24 earnings per share for the current year.

Insiders Place Their Bets

In other CAVA Group news, Director International S.C.A. Artal sold 2,000,000 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $66.25, for a total transaction of $132,500,000.00. Following the sale, the director now owns 26,507,990 shares in the company, valued at approximately $1,756,154,337.50. The transaction was disclosed in a filing with the SEC, which is available through this link. In other CAVA Group news, Director International S.C.A. Artal sold 2,000,000 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $66.25, for a total value of $132,500,000.00. Following the transaction, the director now owns 26,507,990 shares in the company, valued at approximately $1,756,154,337.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Ronald M. Shaich sold 1,500,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $57.20, for a total transaction of $85,800,000.00. Following the completion of the sale, the insider now owns 4,457,634 shares of the company’s stock, valued at approximately $254,976,664.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,547,239 shares of company stock worth $221,525,951.

Institutional Investors Weigh In On CAVA Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CAVA. Headlands Technologies LLC purchased a new stake in CAVA Group in the 3rd quarter worth approximately $26,000. Montag A & Associates Inc. purchased a new stake in CAVA Group in the 4th quarter worth approximately $26,000. PNC Financial Services Group Inc. lifted its position in CAVA Group by 190.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock worth $27,000 after buying an additional 570 shares in the last quarter. Clearstead Advisors LLC purchased a new stake in CAVA Group in the 3rd quarter worth approximately $31,000. Finally, CWM LLC lifted its position in CAVA Group by 101.2% in the 1st quarter. CWM LLC now owns 505 shares of the company’s stock worth $35,000 after buying an additional 254 shares in the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

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.