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

Shares of CAVA Group, Inc. (NYSE:CAVA) have earned an average recommendation of “Moderate Buy” from the twenty-four brokerages that are presently covering the firm, Marketbeat reports. Nine equities research analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $81.00.

A number of brokerages have recently commented on CAVA. KeyCorp cut their price target on CAVA Group from $85.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Truist Financial raised shares of CAVA Group to a “strong-buy” rating in a research report on Tuesday, December 9th. Weiss Ratings reissued a “hold (c)” rating on shares of CAVA Group in a report on Wednesday, October 8th. Morgan Stanley set a $86.00 price target on shares of CAVA Group in a research report on Wednesday, November 5th. Finally, Royal Bank Of Canada set a $70.00 price objective on shares of CAVA Group in a research report on Wednesday, November 5th.

Insider Transactions at CAVA Group

In other CAVA Group news, insider Kenneth Robert Bertram sold 3,788 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider owned 51,143 shares of the company’s stock, valued at $2,592,950.10. This represents a 6.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 6.80% of the stock is owned by corporate insiders.

Institutional Trading of CAVA Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. FNY Investment Advisers LLC raised its stake in shares of CAVA Group by 177.6% in the third quarter. FNY Investment Advisers LLC now owns 9,281 shares of the company’s stock valued at $560,000 after purchasing an additional 5,938 shares in the last quarter. New Mexico Educational Retirement Board increased its holdings in CAVA Group by 23.4% in the 3rd quarter. New Mexico Educational Retirement Board now owns 20,600 shares of the company’s stock valued at $1,244,000 after buying an additional 3,900 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in CAVA Group in the 3rd quarter valued at $36,000. Swiss Life Asset Management Ltd raised its stake in shares of CAVA Group by 72.0% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 4,148 shares of the company’s stock valued at $251,000 after buying an additional 1,736 shares in the last quarter. Finally, Trust Investment Advisors lifted its holdings in shares of CAVA Group by 96.7% during the 3rd quarter. Trust Investment Advisors now owns 11,199 shares of the company’s stock worth $677,000 after acquiring an additional 5,506 shares during the period. 73.15% of the stock is currently owned by institutional investors.

CAVA Group Price Performance

CAVA stock opened at $58.65 on Friday. The stock has a market capitalization of $6.80 billion, a price-to-earnings ratio of 50.56, a price-to-earnings-growth ratio of 3.31 and a beta of 2.40. The company has a 50-day moving average of $53.22 and a two-hundred day moving average of $66.56. CAVA Group has a 52-week low of $43.41 and a 52-week high of $144.49.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data 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 return on equity of 8.88% and a net margin of 12.14%.The business had revenue of $292.24 million during the quarter, compared to the consensus estimate of $292.88 million. During the same quarter in the previous year, the firm posted $0.15 earnings per share. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. Equities analysts expect that CAVA Group will post 0.5 EPS for the current fiscal year.

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.