CAVA Group (NYSE:CAVA) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of CAVA Group (NYSE:CAVA) from a sell rating to a hold rating in a report issued on Sunday.

Several other equities research analysts have also issued reports on CAVA. Morgan Stanley increased their price objective on shares of CAVA Group from $83.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 21st. KeyCorp raised their price target on shares of CAVA Group from $95.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. JPMorgan Chase & Co. raised their price target on shares of CAVA Group from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, April 24th. Mizuho increased their price objective on shares of CAVA Group from $72.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, April 2nd. Finally, Benchmark boosted their price target on shares of CAVA Group from $80.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.07.

CAVA Group Stock Performance

Shares of CAVA stock opened at $90.95 on Friday. CAVA Group has a one year low of $43.41 and a one year high of $101.50. The company has a 50 day moving average price of $84.33 and a 200 day moving average price of $67.95. The firm has a market capitalization of $10.59 billion, a price-to-earnings ratio of 168.42, a price-to-earnings-growth ratio of 6.48 and a beta of 1.90.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. CAVA Group had a net margin of 5.40% and a return on equity of 8.43%. The firm had revenue of $274.99 million during the quarter, compared to analyst estimates of $268.04 million. During the same quarter in the prior year, the business posted $0.05 earnings per share. CAVA Group’s revenue for the quarter was up 20.9% compared to the same quarter last year. As a group, equities analysts forecast that CAVA Group will post 0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On CAVA Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Liontrust Investment Partners LLP bought a new stake in CAVA Group in the 3rd quarter valued at $43,189,000. Leibman Financial Services Inc. boosted its stake in shares of CAVA Group by 162.9% in the 4th quarter. Leibman Financial Services Inc. now owns 67,324 shares of the company’s stock valued at $3,951,000 after purchasing an additional 41,712 shares in the last quarter. Alliancebernstein L.P. lifted its position in 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 buying an additional 1,600,630 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in CAVA Group by 57.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 222,499 shares of the company’s stock worth $13,441,000 after buying an additional 81,393 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in CAVA Group by 20.4% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 103,706 shares of the company’s stock worth $6,265,000 after buying an additional 17,600 shares in the last quarter. 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.