CAVA Group (NYSE:CAVA) Research Coverage Started at Guggenheim

Guggenheim assumed coverage on shares of CAVA Group (NYSE:CAVA) in a research report released on Thursday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $100.00 target price on the stock.

Several other analysts have also weighed in on CAVA. UBS Group lifted their price objective on shares of CAVA Group from $69.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Telsey Advisory Group increased their target price on shares of CAVA Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Morgan Stanley raised their price target on shares of CAVA Group from $80.00 to $83.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 25th. Piper Sandler lifted their price target on shares of CAVA Group from $71.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. Finally, Argus reiterated a “hold” rating on shares of CAVA Group in a report on Friday, February 27th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $84.68.

CAVA Group Price Performance

Shares of CAVA Group stock opened at $75.47 on Thursday. The stock’s 50-day moving average is $73.45 and its 200 day moving average is $63.73. CAVA Group has a one year low of $43.41 and a one year high of $101.50. The firm has a market cap of $8.78 billion, a price-to-earnings ratio of 139.76, a PEG ratio of 6.43 and a beta of 2.16.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, February 24th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. CAVA Group had a return on equity of 8.43% and a net margin of 5.40%.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 for the quarter was up 20.9% on a year-over-year basis. On average, sell-side analysts expect that CAVA Group will post 0.5 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Brett Schulman sold 21,650 shares of CAVA Group stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $67.41, for a total value of $1,459,426.50. Following the completion of the sale, the chief executive officer owned 807,325 shares of the company’s stock, valued at approximately $54,421,778.25. This trade represents a 2.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kelly Costanza sold 1,707 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 $106,072.98. Following the sale, the insider owned 119,139 shares of the company’s stock, valued at $7,403,297.46. This trade represents a 1.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 39,055 shares of company stock worth $2,572,303 over the last quarter. Corporate insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC bought a new position in CAVA Group in the 4th quarter valued at about $25,000. Cornerstone Planning Group LLC increased its holdings in CAVA Group by 378.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock worth $27,000 after purchasing an additional 356 shares in the last quarter. Harbor Investment Advisory LLC raised its stake in shares of CAVA Group by 347.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock worth $30,000 after purchasing an additional 400 shares during the last quarter. Toth Financial Advisory Corp raised its stake in shares of CAVA Group by 656.7% in the third quarter. Toth Financial Advisory Corp now owns 507 shares of the company’s stock worth $31,000 after purchasing an additional 440 shares during the last quarter. Finally, Western Pacific Wealth Management LP bought a new position in shares of CAVA Group in the third quarter valued at approximately $33,000. 73.15% of the stock is owned by institutional investors.

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.