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

Shares of CAVA Group, Inc. (NYSE:CAVA) have been given a consensus recommendation of “Moderate Buy” by the twenty-four analysts that are presently covering the company, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $81.00.

Several research firms have recently commented on CAVA. Barclays decreased their price target on shares of CAVA Group from $64.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 5th. KeyCorp lowered their target price on CAVA Group from $85.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. TD Cowen dropped their target price on CAVA Group from $80.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. UBS Group lowered their price objective on CAVA Group from $75.00 to $61.00 and set a “neutral” rating for the company in a research report on Monday, November 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of CAVA Group in a research report on Wednesday, October 8th.

Insider Activity

In related news, insider Kenneth Robert Bertram sold 3,788 shares of the stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $50.70, for a total transaction of $192,051.60. Following the completion of the transaction, the insider directly owned 51,143 shares in the company, valued at approximately $2,592,950.10. This trade represents a 6.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CAVA. Maryland State Retirement & Pension System increased its holdings in CAVA Group by 37.5% in the 2nd quarter. Maryland State Retirement & Pension System now owns 4,850 shares of the company’s stock valued at $409,000 after buying an additional 1,324 shares during the period. Global Retirement Partners LLC acquired a new stake in shares of CAVA Group during the 2nd quarter worth approximately $463,000. Y Intercept Hong Kong Ltd increased its stake in CAVA Group by 271.7% in the second quarter. Y Intercept Hong Kong Ltd now owns 23,659 shares of the company’s stock valued at $1,993,000 after acquiring an additional 17,294 shares during the last quarter. Hantz Financial Services Inc. raised its position in CAVA Group by 1,846,775.0% during the second quarter. Hantz Financial Services Inc. now owns 73,875 shares of the company’s stock valued at $6,222,000 after purchasing an additional 73,871 shares in the last quarter. Finally, Lewis Asset Management LLC bought a new stake in CAVA Group during the second quarter worth $504,000. 73.15% of the stock is currently owned by institutional investors and hedge funds.

CAVA Group Stock Performance

CAVA Group stock opened at $58.37 on Friday. The business’s fifty day moving average is $53.45 and its two-hundred day moving average is $66.67. The firm has a market cap of $6.77 billion, a P/E ratio of 50.32, a P/E/G ratio of 3.38 and a beta of 2.51. CAVA Group has a 52 week low of $43.41 and a 52 week high of $144.49.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). CAVA Group had a net margin of 12.14% and a return on equity of 8.88%. The business had revenue of $292.24 million during the quarter, compared to the consensus estimate of $292.88 million. During the same period in the prior year, the firm earned $0.15 earnings per share. The business’s quarterly revenue was up 19.9% compared to the same quarter last year. On average, equities research analysts predict that CAVA Group will post 0.5 earnings per share for the current year.

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.