CAVA Group, Inc. (NYSE:CAVA) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of CAVA Group, Inc. (NYSE:CAVA) have earned a consensus recommendation of “Moderate Buy” from the sixteen research firms that are covering the firm, Marketbeat.com reports. Eight analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $115.64.

Several research firms have recently issued reports on CAVA. Morgan Stanley cut CAVA Group from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $90.00 to $110.00 in a research note on Thursday, August 29th. Robert W. Baird increased their price target on CAVA Group from $105.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Citigroup increased their price target on CAVA Group from $93.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Wedbush increased their price target on CAVA Group from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Finally, Jefferies Financial Group raised their target price on CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a research note on Friday, August 23rd.

Insider Activity at CAVA Group

In related news, CFO Tricia K. Tolivar sold 5,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.64, for a total value of $628,200.00. Following the completion of the transaction, the chief financial officer now owns 292,600 shares in the company, valued at approximately $36,762,264. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Tricia K. Tolivar sold 5,000 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.64, for a total value of $628,200.00. Following the completion of the sale, the chief financial officer now directly owns 292,600 shares of the company’s stock, valued at approximately $36,762,264. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brett Schulman sold 201,504 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.53, for a total value of $25,294,797.12. Following the completion of the sale, the chief executive officer now directly owns 702,590 shares of the company’s stock, valued at $88,196,122.70. The disclosure for this sale can be found here. Insiders sold 304,994 shares of company stock worth $38,310,084 in the last quarter.

Institutional Investors Weigh In On CAVA Group

Several hedge funds have recently bought and sold shares of CAVA. Private Advisor Group LLC raised its stake in shares of CAVA Group by 69.1% during the 1st quarter. Private Advisor Group LLC now owns 33,619 shares of the company’s stock worth $2,355,000 after purchasing an additional 13,739 shares in the last quarter. Xponance Inc. raised its stake in shares of CAVA Group by 95.2% during the 2nd quarter. Xponance Inc. now owns 9,846 shares of the company’s stock worth $913,000 after purchasing an additional 4,803 shares in the last quarter. CHURCHILL MANAGEMENT Corp purchased a new stake in shares of CAVA Group during the 1st quarter worth about $3,213,000. Stephens Inc. AR purchased a new stake in shares of CAVA Group during the 4th quarter worth about $1,014,000. Finally, Intech Investment Management LLC purchased a new stake in shares of CAVA Group during the 2nd quarter worth about $1,728,000. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Price Performance

Shares of NYSE CAVA opened at $122.44 on Wednesday. CAVA Group has a 1-year low of $29.05 and a 1-year high of $131.82. The business’s fifty day moving average price is $106.06 and its two-hundred day moving average price is $88.00. The firm has a market capitalization of $13.96 billion, a PE ratio of 298.63 and a beta of 3.34.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Thursday, August 22nd. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.04. CAVA Group had a return on equity of 7.37% and a net margin of 5.04%. The company had revenue of $233.50 million during the quarter, compared to analysts’ expectations of $219.47 million. During the same quarter in the prior year, the business posted $0.21 earnings per share. The company’s revenue for the quarter was up 35.1% compared to the same quarter last year. Equities research analysts expect that CAVA Group will post 0.43 earnings per share for the current fiscal year.

CAVA Group Company Profile

CAVA Group, Inc owns and operates a chain of restaurants under the CAVA brand in the United States. The company also offers dips, spreads, and dressings through grocery stores. In addition, the company provides online and mobile ordering platforms. Cava Group, Inc was founded in 2006 and is headquartered in Washington, the District of Columbia.