CAVA Group (NYSE:CAVA) Stock Price Expected to Rise, Truist Financial Analyst Says

CAVA Group (NYSE:CAVA) had its price objective upped by Truist Financial from $78.00 to $80.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 14.26% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Argus lowered their price objective on CAVA Group from $76.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Citigroup boosted their price target on CAVA Group from $60.00 to $74.00 and gave the stock a “neutral” rating in a research note on Thursday, February 12th. Piper Sandler dropped their price objective on CAVA Group from $100.00 to $71.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Sanford C. Bernstein set a $70.00 price objective on CAVA Group in a report on Wednesday, January 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of CAVA Group in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.29.

CAVA Group Stock Performance

Shares of CAVA Group stock opened at $70.02 on Monday. The company has a 50-day simple moving average of $64.03 and a two-hundred day simple moving average of $61.79. The stock has a market capitalization of $8.12 billion, a PE ratio of 60.36, a price-to-earnings-growth ratio of 5.15 and a beta of 2.41. CAVA Group has a 52-week low of $43.41 and a 52-week high of $119.01.

Insider Transactions at CAVA Group

In other CAVA Group news, CEO Brett Schulman sold 21,650 shares of the stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $67.41, for a total value of $1,459,426.50. Following the transaction, the chief executive officer directly owned 807,325 shares in the company, valued at approximately $54,421,778.25. This trade represents a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Tricia K. Tolivar sold 2,404 shares of the business’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $149,384.56. Following the sale, the chief financial officer directly owned 231,934 shares of the company’s stock, valued at approximately $14,412,378.76. The trade was a 1.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 42,843 shares of company stock worth $2,764,355. 12.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CAVA Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Los Angeles Capital Management LLC purchased a new stake in CAVA Group during the 4th quarter valued at approximately $25,000. Cornerstone Planning Group LLC grew its stake in CAVA Group by 378.7% during the third quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock valued at $27,000 after acquiring an additional 356 shares in the last quarter. Harbor Investment Advisory LLC increased its holdings in CAVA Group by 347.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock valued at $30,000 after acquiring an additional 400 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new stake in CAVA Group in the 2nd quarter worth $31,000. Finally, Toth Financial Advisory Corp grew its position in shares of CAVA Group by 656.7% during the third quarter. Toth Financial Advisory Corp now owns 507 shares of the company’s stock valued at $31,000 after purchasing an additional 440 shares in the last quarter. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

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.