CAVA Group, Inc. (NYSE:CAVA) Receives $84.04 Consensus PT from Analysts

Shares of CAVA Group, Inc. (NYSE:CAVA) have been given an average rating of “Moderate Buy” by the twenty-five ratings firms that are covering the stock, MarketBeat reports. Ten analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $84.0417.

A number of research firms have recently weighed in on CAVA. Benchmark upgraded shares of CAVA Group to a “strong-buy” rating in a report on Thursday, February 5th. Mizuho increased their target price on shares of CAVA Group from $52.00 to $64.00 and gave the stock a “neutral” rating in a research report on Friday, January 9th. Telsey Advisory Group raised their target price on CAVA Group from $85.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Johnson Rice set a $72.00 price target on CAVA Group in a research report on Monday, January 5th. Finally, DA Davidson initiated coverage on CAVA Group in a research note on Friday, March 6th. They set a “neutral” rating and a $80.00 price target for the company.

CAVA Group Stock Performance

Shares of NYSE CAVA opened at $82.03 on Wednesday. The business has a 50 day simple moving average of $70.41 and a 200 day simple moving average of $62.51. CAVA Group has a 52 week low of $43.41 and a 52 week high of $101.50. The stock has a market cap of $9.55 billion, a price-to-earnings ratio of 151.91, a PEG ratio of 6.91 and a beta of 2.16.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. The firm had revenue of $274.99 million for the quarter, compared to analyst estimates of $268.04 million. CAVA Group had a net margin of 5.40% and a return on equity of 8.43%. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.05 earnings per share. On average, analysts predict that CAVA Group will post 0.5 EPS for the current year.

Insider Transactions at CAVA Group

In other news, CEO Brett Schulman sold 4,542 shares of CAVA Group stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total value of $282,239.88. Following the transaction, the chief executive officer owned 802,783 shares of the company’s stock, valued at $49,884,935.62. This trade represents a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Adam David Phillips sold 774 shares of the business’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total transaction of $48,096.36. Following the completion of the sale, the chief accounting officer owned 10,435 shares of the company’s stock, valued at $648,430.90. The trade was a 6.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 39,055 shares of company stock worth $2,572,303. 6.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CAVA. World Investment Advisors acquired a new position in CAVA Group during the 4th quarter worth $206,000. Pacer Advisors Inc. increased its stake in shares of CAVA Group by 65.6% in the fourth quarter. Pacer Advisors Inc. now owns 21,742 shares of the company’s stock worth $1,276,000 after purchasing an additional 8,612 shares during the period. Invesco Ltd. increased its stake in shares of CAVA Group by 8.2% in the fourth quarter. Invesco Ltd. now owns 145,565 shares of the company’s stock worth $8,543,000 after purchasing an additional 11,013 shares during the period. Alberta Investment Management Corp acquired a new position in shares of CAVA Group during the 4th quarter worth about $1,473,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of CAVA Group during the 4th quarter worth about $323,000. Institutional investors own 73.15% of the company’s stock.

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.