Barclays Begins Coverage on CAVA Group (NYSE:CAVA)

Stock analysts at Barclays started coverage on shares of CAVA Group (NYSE:CAVA) in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage set an “equal weight” rating and a $58.00 price target on the stock. Barclays‘s price objective indicates a potential downside of 9.02% from the company’s previous close.

Several other equities analysts have also recently issued reports on CAVA. Wedbush reaffirmed an “outperform” rating and set a $65.00 price objective (up from $59.00) on shares of CAVA Group in a report on Tuesday, February 27th. JPMorgan Chase & Co. lifted their price target on CAVA Group from $50.00 to $64.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. William Blair reissued an “outperform” rating on shares of CAVA Group in a research note on Tuesday, February 27th. Citigroup upped their price target on shares of CAVA Group from $49.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Finally, Piper Sandler raised their price objective on shares of CAVA Group from $46.00 to $63.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.67.

CAVA Group Price Performance

CAVA Group stock opened at $63.75 on Monday. CAVA Group has a one year low of $29.05 and a one year high of $71.60. The business has a fifty day moving average of $60.23 and a two-hundred day moving average of $45.51.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Monday, February 26th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. CAVA Group had a net margin of 1.82% and a return on equity of 4.28%. The firm had revenue of $175.50 million during the quarter, compared to analysts’ expectations of $240.03 million. The business’s revenue for the quarter was up 52.6% compared to the same quarter last year. On average, analysts expect that CAVA Group will post 0.24 earnings per share for the current fiscal year.

Insider Activity

In other CAVA Group news, Director Theodoros Xenohristos sold 47,239 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $68.29, for a total value of $3,225,951.31. Following the sale, the director now directly owns 526,521 shares of the company’s stock, valued at approximately $35,956,119.09. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Theodoros Xenohristos sold 47,239 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $68.29, for a total transaction of $3,225,951.31. Following the completion of the transaction, the director now owns 526,521 shares of the company’s stock, valued at $35,956,119.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director International S.C.A. Artal sold 2,000,000 shares of CAVA Group stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $66.25, for a total transaction of $132,500,000.00. Following the completion of the transaction, the director now owns 26,507,990 shares in the company, valued at approximately $1,756,154,337.50. The disclosure for this sale can be found here. Insiders sold a total of 3,547,239 shares of company stock valued at $221,525,951 over the last quarter.

Institutional Trading of CAVA Group

A number of institutional investors have recently added to or reduced their stakes in CAVA. Headlands Technologies LLC purchased a new stake in shares of CAVA Group during the 3rd quarter valued at about $26,000. Montag A & Associates Inc. purchased a new stake in shares of CAVA Group during the fourth quarter valued at approximately $26,000. PNC Financial Services Group Inc. lifted its position in shares of CAVA Group by 190.0% during the third quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock worth $27,000 after purchasing an additional 570 shares in the last quarter. Clearstead Advisors LLC purchased a new position in shares of CAVA Group in the third quarter valued at $31,000. Finally, CWM LLC grew its holdings in CAVA Group by 101.2% during the 1st quarter. CWM LLC now owns 505 shares of the company’s stock valued at $35,000 after purchasing an additional 254 shares in the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

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.