CAVA Group (NYSE:CAVA) Price Target Raised to $100.00

CAVA Group (NYSE:CAVA) had its price objective raised by TD Cowen from $90.00 to $100.00 in a report published on Thursday,Benzinga reports. TD Cowen currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. Barclays raised their price target on CAVA Group from $52.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, January 7th. KeyCorp boosted their price objective on CAVA Group from $65.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, March 3rd. Benchmark upgraded shares of CAVA Group to a “strong-buy” rating in a research report on Thursday, February 5th. BNP Paribas Exane initiated coverage on shares of CAVA Group in a research note on Monday, March 30th. They issued a “neutral” rating and a $91.00 target price on the stock. Finally, Royal Bank Of Canada lifted their price target on shares of CAVA Group from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, CAVA Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.92.

CAVA Group Price Performance

CAVA stock opened at $79.51 on Thursday. The company has a 50 day moving average price of $74.59 and a 200 day moving average price of $64.28. CAVA Group has a fifty-two week low of $43.41 and a fifty-two week high of $101.50. The stock has a market capitalization of $9.25 billion, a PE ratio of 147.25, a price-to-earnings-growth ratio of 6.79 and a beta of 2.03.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The firm had revenue of $274.99 million for the quarter, compared to analyst estimates of $268.04 million. CAVA Group had a return on equity of 8.43% and a net margin of 5.40%.The business’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period last year, the company earned $0.05 EPS. As a group, equities analysts expect that CAVA Group will post 0.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CAVA Group news, CFO Tricia K. Tolivar sold 2,404 shares of the stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total value of $149,384.56. Following the transaction, the chief financial officer owned 231,934 shares of the company’s stock, valued at approximately $14,412,378.76. This represents a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brett Schulman sold 21,650 shares of the firm’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $67.41, for a total value of $1,459,426.50. Following the transaction, the chief executive officer owned 807,325 shares in the company, valued at approximately $54,421,778.25. This trade represents a 2.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 39,055 shares of company stock worth $2,572,303 over the last three months. Insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On CAVA Group

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of CAVA Group by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 9,345,976 shares of the company’s stock valued at $564,590,000 after acquiring an additional 313,938 shares during the period. Capital Research Global Investors boosted its stake in CAVA Group by 27.2% during the 4th quarter. Capital Research Global Investors now owns 8,440,040 shares of the company’s stock worth $495,344,000 after acquiring an additional 1,805,174 shares during the last quarter. Capital International Investors grew its holdings in CAVA Group by 15.5% during the fourth quarter. Capital International Investors now owns 4,885,317 shares of the company’s stock valued at $286,718,000 after purchasing an additional 656,581 shares during the period. Morgan Stanley grew its holdings in CAVA Group by 33.7% during the fourth quarter. Morgan Stanley now owns 3,318,894 shares of the company’s stock valued at $194,786,000 after purchasing an additional 835,628 shares during the period. Finally, Alliancebernstein L.P. increased its stake in CAVA Group by 118.3% in the third quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company’s stock valued at $178,432,000 after purchasing an additional 1,600,630 shares in the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

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.