CAVA Group (NYSE:CAVA) Receives “Outperform” Rating from Telsey Advisory Group

CAVA Group (NYSE:CAVA)‘s stock had its “outperform” rating reissued by equities researchers at Telsey Advisory Group in a research report issued on Thursday,Benzinga reports. They currently have a $85.00 target price on the stock. Telsey Advisory Group’s price objective suggests a potential upside of 25.20% from the company’s previous close.

A number of other analysts have also recently weighed in on CAVA. Piper Sandler decreased their target price on shares of CAVA Group from $100.00 to $71.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Stifel Nicolaus set a $75.00 price objective on CAVA Group in a research report on Wednesday, November 5th. The Goldman Sachs Group reissued a “neutral” rating and issued a $68.00 price objective on shares of CAVA Group in a research note on Wednesday, November 5th. Royal Bank Of Canada set a $70.00 target price on CAVA Group in a report on Wednesday, November 5th. Finally, Johnson Rice set a $72.00 price target on shares of CAVA Group in a research report on Monday, January 5th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $82.21.

CAVA Group Trading Up 7.2%

NYSE CAVA opened at $67.89 on Thursday. The company has a market cap of $7.87 billion, a price-to-earnings ratio of 58.53, a PEG ratio of 4.65 and a beta of 2.41. The company has a 50 day moving average of $63.37 and a 200-day moving average of $62.22. CAVA Group has a 1-year low of $43.41 and a 1-year high of $132.47.

Insider Transactions at CAVA Group

In related news, insider Kenneth Robert Bertram sold 3,788 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $50.70, for a total value of $192,051.60. Following the completion of the sale, the insider owned 51,143 shares in the company, valued at approximately $2,592,950.10. This represents a 6.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Tricia K. Tolivar sold 2,404 shares of the firm’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total transaction of $149,384.56. Following the sale, the chief financial officer owned 231,934 shares of the company’s stock, valued at approximately $14,412,378.76. This represents a 1.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 42,843 shares of company stock worth $2,764,355 over the last ninety days. Insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

A number of large investors have recently bought and sold shares of the business. Alberta Investment Management Corp bought a new position in CAVA Group in the 4th quarter worth approximately $1,473,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of CAVA Group during the fourth quarter valued at $323,000. State of Tennessee Department of Treasury boosted its holdings in CAVA Group by 4.8% in the fourth quarter. State of Tennessee Department of Treasury now owns 34,021 shares of the company’s stock valued at $2,062,000 after acquiring an additional 1,543 shares during the last quarter. XTX Topco Ltd grew its position in shares of CAVA Group by 18.1% during the 4th quarter. XTX Topco Ltd now owns 36,816 shares of the company’s stock worth $2,161,000 after buying an additional 5,643 shares during the period. Finally, Susquehanna Portfolio Strategies LLC grew its holdings in CAVA Group by 43.5% during the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 162,438 shares of the company’s stock worth $9,533,000 after acquiring an additional 49,230 shares during the period. 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.