CAVA Group, Inc. (NYSE:CAVA) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of CAVA Group, Inc. (NYSE:CAVA) have earned an average rating of “Moderate Buy” from the sixteen ratings firms that are covering the firm, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $142.13.

A number of equities analysts recently commented on the stock. Citigroup raised their price objective on shares of CAVA Group from $140.00 to $163.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. TD Cowen raised their target price on CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. upped their price target on CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Wedbush raised their price objective on CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Loop Capital upped their target price on CAVA Group from $122.00 to $147.00 and gave the company a “hold” rating in a report on Thursday, November 14th.

CAVA Group Stock Up 0.9 %

Shares of CAVA Group stock opened at $111.98 on Friday. CAVA Group has a 12-month low of $42.65 and a 12-month high of $172.43. The firm has a market capitalization of $12.83 billion, a PE ratio of 243.43 and a beta of 3.21. The stock’s fifty day moving average is $129.75 and its 200-day moving average is $117.24.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.04. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The firm had revenue of $243.82 million for the quarter, compared to the consensus estimate of $233.05 million. During the same quarter in the previous year, the company earned $0.06 EPS. The business’s revenue for the quarter was up 38.9% compared to the same quarter last year. Analysts expect that CAVA Group will post 0.5 EPS for the current year.

Insider Activity at CAVA Group

In related news, Director Ronald M. Shaich sold 622,549 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $149.40, for a total value of $93,008,820.60. Following the completion of the sale, the director now directly owns 6,307 shares in the company, valued at approximately $942,265.80. The trade was a 99.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Karen Kochevar sold 15,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $142.23, for a total value of $2,133,450.00. Following the transaction, the director now owns 1,307 shares in the company, valued at approximately $185,894.61. This trade represents a 91.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 652,549 shares of company stock valued at $97,242,271. Insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On CAVA Group

A number of institutional investors have recently made changes to their positions in the business. Rhumbline Advisers grew its holdings in CAVA Group by 80.5% in the 2nd quarter. Rhumbline Advisers now owns 86,251 shares of the company’s stock valued at $8,000,000 after buying an additional 38,471 shares during the last quarter. Arizona State Retirement System grew its stake in shares of CAVA Group by 36.3% in the second quarter. Arizona State Retirement System now owns 12,765 shares of the company’s stock worth $1,184,000 after acquiring an additional 3,397 shares during the last quarter. Private Advisor Group LLC increased its position in CAVA Group by 13.6% during the second quarter. Private Advisor Group LLC now owns 38,187 shares of the company’s stock worth $3,542,000 after acquiring an additional 4,568 shares during the period. Headlands Technologies LLC acquired a new position in CAVA Group during the 2nd quarter valued at $37,000. Finally, Sentry Investment Management LLC boosted its holdings in CAVA Group by 25.5% in the 2nd quarter. Sentry Investment Management LLC now owns 4,168 shares of the company’s stock valued at $387,000 after purchasing an additional 846 shares during the period. 73.15% of the stock is currently owned by 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.