CAVA Group, Inc. (NYSE:CAVA) Receives $81.00 Consensus PT from Brokerages

Shares of CAVA Group, Inc. (NYSE:CAVA) have been assigned a consensus rating of “Moderate Buy” from the twenty-four research firms that are currently covering the firm, MarketBeat.com reports. Nine research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $81.00.

Several equities research analysts recently commented on CAVA shares. Sanford C. Bernstein cut their target price on CAVA Group from $100.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. Mizuho raised shares of CAVA Group to a “hold” rating in a research report on Tuesday, October 28th. Royal Bank Of Canada set a $70.00 price objective on shares of CAVA Group in a research note on Wednesday, November 5th. Weiss Ratings reissued a “hold (c)” rating on shares of CAVA Group in a research note on Wednesday, October 8th. Finally, Truist Financial upgraded shares of CAVA Group to a “strong-buy” rating in a report on Tuesday, December 9th.

CAVA Group Stock Down 2.6%

Shares of NYSE CAVA opened at $60.15 on Friday. The company has a market capitalization of $6.98 billion, a PE ratio of 51.85, a P/E/G ratio of 3.39 and a beta of 2.51. CAVA Group has a twelve month low of $43.41 and a twelve month high of $144.49. The firm has a fifty day simple moving average of $53.64 and a 200 day simple moving average of $66.92.

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

Insider Activity at CAVA Group

In related news, insider Kenneth Robert Bertram sold 3,788 shares of the business’s stock in a transaction dated 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 sale, the insider directly owned 51,143 shares of the company’s stock, valued at $2,592,950.10. The trade was a 6.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 12.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CAVA Group

Hedge funds have recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC raised its position 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 purchasing an additional 356 shares during the period. Atlantic Union Bankshares Corp bought a new stake in CAVA Group during the 2nd quarter valued at $31,000. Toth Financial Advisory Corp increased its stake in CAVA Group by 656.7% during the 3rd quarter. Toth Financial Advisory Corp now owns 507 shares of the company’s stock valued at $31,000 after purchasing an additional 440 shares in the last quarter. Western Pacific Wealth Management LP acquired a new position in CAVA Group during the third quarter worth $33,000. Finally, CNB Bank lifted its stake in shares of CAVA Group by 275.8% in the third quarter. CNB Bank now owns 575 shares of the company’s stock valued at $35,000 after buying an additional 422 shares in the last quarter. 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.