CAVA Group (NYSE:CAVA) Given New $95.00 Price Target at KeyCorp

CAVA Group (NYSE:CAVA) had its target price increased by equities research analysts at KeyCorp from $65.00 to $95.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price target suggests a potential upside of 21.03% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Stifel Nicolaus set a $75.00 target price on shares of CAVA Group in a research note on Wednesday, November 5th. Johnson Rice set a $72.00 price objective on CAVA Group in a research note on Monday, January 5th. Weiss Ratings reissued a “hold (c)” rating on shares of CAVA Group in a report on Wednesday, January 21st. Telsey Advisory Group boosted their price target on CAVA Group from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Finally, Piper Sandler upped their price target on CAVA Group from $71.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.82.

CAVA Group Trading Down 4.8%

Shares of NYSE:CAVA opened at $78.49 on Tuesday. The business’s 50 day moving average is $66.79 and its 200-day moving average is $61.69. The firm has a market capitalization of $9.13 billion, a PE ratio of 145.35, a PEG ratio of 7.10 and a beta of 2.41. CAVA Group has a 1-year low of $43.41 and a 1-year high of $101.50.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, February 24th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. The firm had revenue of $274.99 million during the quarter, compared to analysts’ expectations of $268.04 million. CAVA Group had a return on equity of 8.43% and a net margin of 5.40%.CAVA Group’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period last year, the business earned $0.05 earnings per share. On average, sell-side analysts predict that CAVA Group will post 0.5 EPS for the current year.

Insider Activity at CAVA Group

In other CAVA Group news, CEO Brett Schulman sold 4,542 shares of the stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $282,239.88. Following the sale, the chief executive officer owned 802,783 shares of the company’s stock, valued at $49,884,935.62. This represents a 0.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Theodoros Xenohristos sold 1,039 shares of the firm’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $64,563.46. Following the completion of the sale, the insider owned 332,205 shares of the company’s stock, valued at $20,643,218.70. The trade was a 0.31% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 39,055 shares of company stock valued at $2,572,303. 6.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Global Retirement Partners LLC bought a new position in CAVA Group in the second quarter valued at approximately $463,000. Valeo Financial Advisors LLC bought a new position in shares of CAVA Group in the 2nd quarter worth $57,824,000. Renaissance Capital LLC grew its stake in shares of CAVA Group by 42.7% during the third quarter. Renaissance Capital LLC now owns 105,730 shares of the company’s stock worth $6,387,000 after purchasing an additional 31,651 shares during the period. Envestnet Asset Management Inc. increased its holdings in CAVA Group by 57.7% in the third quarter. Envestnet Asset Management Inc. now owns 222,499 shares of the company’s stock valued at $13,441,000 after purchasing an additional 81,393 shares during the last quarter. Finally, William Blair Investment Management LLC acquired a new position in CAVA Group in the third quarter valued at about $114,098,000. Institutional investors own 73.15% of the company’s stock.

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.