CAVA Group (NYSE:CAVA) Research Coverage Started at BNP Paribas Exane

BNP Paribas Exane began coverage on shares of CAVA Group (NYSE:CAVA) in a research report released on Monday, MarketBeat reports. The firm issued a neutral rating and a $91.00 target price on the stock.

Several other research firms have also commented on CAVA. Sanford C. Bernstein boosted their price objective on shares of CAVA Group from $75.00 to $84.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Morgan Stanley raised their target price on shares of CAVA Group from $80.00 to $83.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 25th. Telsey Advisory Group upped their price target on CAVA Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. TD Cowen increased their price objective on CAVA Group from $85.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of CAVA Group in a research report on Wednesday, January 21st. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $84.92.

CAVA Group Price Performance

CAVA opened at $80.36 on Monday. The business’s 50-day moving average is $74.06 and its two-hundred day moving average is $64.04. CAVA Group has a 1 year low of $43.41 and a 1 year high of $101.50. The firm has a market capitalization of $9.35 billion, a PE ratio of 148.82, a price-to-earnings-growth ratio of 6.90 and a beta of 2.02.

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

Insider Activity at CAVA Group

In other news, insider Kelly Costanza sold 1,707 shares of CAVA Group stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $106,072.98. Following the completion of the sale, the insider directly owned 119,139 shares in the company, valued at approximately $7,403,297.46. The trade was a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Theodoros Xenohristos sold 1,039 shares of the business’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $64,563.46. Following the sale, the insider directly owned 332,205 shares in the company, valued at $20,643,218.70. This trade represents a 0.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 39,055 shares of company stock worth $2,572,303 in the last 90 days. 6.80% of the stock is owned by insiders.

Institutional Trading of CAVA Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bison Wealth LLC acquired a new position in shares of CAVA Group in the fourth quarter valued at about $208,000. Goldman Sachs Group Inc. boosted its position in CAVA Group by 14.3% in the first quarter. Goldman Sachs Group Inc. now owns 606,780 shares of the company’s stock valued at $52,432,000 after buying an additional 75,828 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in CAVA Group by 17.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 236,622 shares of the company’s stock valued at $20,447,000 after buying an additional 34,860 shares during the last quarter. Legal & General Group Plc increased its holdings in CAVA Group by 7.7% in the 2nd quarter. Legal & General Group Plc now owns 151,349 shares of the company’s stock worth $12,737,000 after buying an additional 10,866 shares during the period. Finally, Quadrant Capital Group LLC increased its holdings in CAVA Group by 10,096.3% in the 2nd quarter. Quadrant Capital Group LLC now owns 5,506 shares of the company’s stock worth $464,000 after buying an additional 5,452 shares during the period. Institutional investors and hedge funds own 73.15% of the company’s stock.

About CAVA Group

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.