CAVA Group (NYSE:CAVA) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of CAVA Group (NYSE:CAVA) from a hold rating to a sell rating in a research report report published on Saturday morning.

CAVA has been the subject of a number of other research reports. Wolfe Research assumed coverage on CAVA Group in a research note on Monday, March 9th. They issued an “outperform” rating and a $93.00 target price for the company. Mizuho raised their target price on CAVA Group from $72.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, April 2nd. Guggenheim initiated coverage on CAVA Group in a research note on Thursday, March 26th. They set a “buy” rating and a $100.00 price objective for the company. Citigroup lifted their price objective on CAVA Group from $74.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Finally, Truist Financial lifted their price objective on CAVA Group from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, CAVA Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.70.

CAVA Group Trading Down 1.5%

Shares of NYSE CAVA opened at $94.24 on Friday. The stock has a market capitalization of $10.97 billion, a PE ratio of 174.52, a price-to-earnings-growth ratio of 7.92 and a beta of 2.03. The stock’s fifty day simple moving average is $82.82 and its two-hundred day simple moving average is $67.35. CAVA Group has a 12-month low of $43.41 and a 12-month high of $101.50.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The firm had revenue of $274.99 million during the quarter, compared to analysts’ expectations of $268.04 million. CAVA Group had a return on equity of 8.43% and a net margin of 5.40%.The business’s quarterly revenue was up 20.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.05 EPS. On average, equities analysts predict that CAVA Group will post 0.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CAVA Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of CAVA Group by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 9,345,976 shares of the company’s stock valued at $564,590,000 after purchasing an additional 313,938 shares in the last quarter. Capital Research Global Investors boosted its holdings in CAVA Group by 27.2% in the 4th quarter. Capital Research Global Investors now owns 8,440,040 shares of the company’s stock worth $495,344,000 after buying an additional 1,805,174 shares during the last quarter. Capital International Investors boosted its holdings in shares of CAVA Group by 15.5% during the 4th quarter. Capital International Investors now owns 4,885,317 shares of the company’s stock worth $286,718,000 after purchasing an additional 656,581 shares during the last quarter. Morgan Stanley boosted its holdings in shares of CAVA Group by 33.7% during the 4th quarter. Morgan Stanley now owns 3,318,894 shares of the company’s stock worth $194,786,000 after purchasing an additional 835,628 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in shares of CAVA Group by 118.3% during the 3rd quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company’s stock worth $178,432,000 after purchasing an additional 1,600,630 shares during the last quarter. Hedge funds and other institutional investors 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.