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

Shares of CAVA Group, Inc. (NYSE:CAVA) have been given a consensus recommendation of “Moderate Buy” by the sixteen analysts that are currently covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $131.47.

A number of equities research analysts recently weighed in on the stock. Loop Capital lowered their price target on shares of CAVA Group from $147.00 to $100.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Piper Sandler raised shares of CAVA Group from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $142.00 to $115.00 in a report on Friday, February 28th. Stifel Nicolaus raised their price objective on shares of CAVA Group from $118.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. raised their price objective on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Finally, UBS Group reduced their target price on CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th.

CAVA Group Price Performance

Shares of NYSE CAVA opened at $86.70 on Friday. The company has a market capitalization of $10.02 billion, a PE ratio of 188.47 and a beta of 3.25. The firm’s 50-day moving average is $118.84 and its two-hundred day moving average is $125.56. CAVA Group has a 12-month low of $57.92 and a 12-month high of $172.43.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The company had revenue of $227.40 million for the quarter, compared to analyst estimates of $223.34 million. On average, analysts forecast that CAVA Group will post 0.5 EPS for the current fiscal year.

Insider Activity

In related news, Director Ronald M. Shaich sold 622,549 shares of CAVA Group stock in a transaction 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 transaction, the director now directly owns 6,307 shares in the company, valued at $942,265.80. The trade was a 99.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Adam David Phillips sold 615 shares of CAVA Group stock in a transaction on Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $76,499.85. Following the completion of the transaction, the chief accounting officer now owns 10,884 shares in the company, valued at $1,353,860.76. The trade was a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 651,784 shares of company stock worth $96,522,922. 12.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Conway Capital Management Inc. purchased a new position in CAVA Group in the third quarter valued at about $5,524,000. Entropy Technologies LP acquired a new position in CAVA Group in the 4th quarter valued at approximately $2,097,000. Empowered Funds LLC acquired a new position in CAVA Group in the 4th quarter valued at approximately $5,007,000. SpiderRock Advisors LLC raised its holdings in CAVA Group by 8.9% in the 3rd quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock valued at $59,364,000 after acquiring an additional 39,319 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in CAVA Group by 262.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock valued at $63,918,000 after acquiring an additional 373,835 shares in the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

About CAVA Group

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.