CAVA Group, Inc. (NYSE:CAVA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

CAVA Group, Inc. (NYSE:CAVA) has been assigned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $81.50.

Several brokerages have issued reports on CAVA. Jefferies Financial Group lifted their target price on shares of CAVA Group from $72.00 to $94.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. William Blair reiterated an “outperform” rating on shares of CAVA Group in a research report on Tuesday, February 27th. Argus upgraded CAVA Group from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Wednesday, April 10th. Stifel Nicolaus lifted their price target on CAVA Group from $66.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. Finally, Piper Sandler lowered CAVA Group from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $63.00 to $92.00 in a research report on Thursday, May 30th.

CAVA Group Stock Performance

CAVA stock opened at $92.44 on Monday. The stock has a fifty day moving average of $78.66 and a 200-day moving average of $61.60. CAVA Group has a fifty-two week low of $29.05 and a fifty-two week high of $97.64. The company has a market capitalization of $10.54 billion and a price-to-earnings ratio of 225.47.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Tuesday, May 28th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.08. CAVA Group had a net margin of 3.75% and a return on equity of 5.18%. The firm had revenue of $259.01 million for the quarter, compared to the consensus estimate of $246.02 million. The firm’s revenue was up 27.5% on a year-over-year basis. Equities analysts predict that CAVA Group will post 0.34 EPS for the current year.

Insiders Place Their Bets

In other CAVA Group news, insider Kenneth Robert Bertram sold 5,250 shares of CAVA Group stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $95.28, for a total transaction of $500,220.00. Following the completion of the transaction, the insider now owns 67,005 shares in the company, valued at $6,384,236.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Ronald M. Shaich sold 1,231,979 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $87.25, for a total transaction of $107,490,167.75. Following the sale, the director now directly owns 5,000 shares of the company’s stock, valued at $436,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kenneth Robert Bertram sold 5,250 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $95.28, for a total transaction of $500,220.00. Following the transaction, the insider now directly owns 67,005 shares of the company’s stock, valued at $6,384,236.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,371,854 shares of company stock worth $119,163,884.

Institutional Investors Weigh In On CAVA Group

Large investors have recently made changes to their positions in the company. Capital Research Global Investors raised its holdings in CAVA Group by 21.6% in the 1st quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock worth $372,059,000 after purchasing an additional 942,054 shares during the period. Vanguard Group Inc. raised its stake in shares of CAVA Group by 215.7% in the first quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock worth $346,330,000 after buying an additional 3,377,840 shares during the period. 1832 Asset Management L.P. increased its holdings in CAVA Group by 79.5% in the 4th quarter. 1832 Asset Management L.P. now owns 2,248,400 shares of the company’s stock worth $96,636,000 after acquiring an additional 995,800 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in CAVA Group by 55.9% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,373,749 shares of the company’s stock worth $96,231,000 after acquiring an additional 492,667 shares during the period. Finally, Jennison Associates LLC boosted its position in shares of CAVA Group by 24.7% in the fourth quarter. Jennison Associates LLC now owns 1,222,240 shares of the company’s stock worth $52,532,000 after purchasing an additional 242,376 shares during the period. 73.15% of the stock is currently owned by institutional investors.

CAVA Group Company Profile

CAVA Group, Inc owns and operates a chain of restaurants under the CAVA brand in the United States. The company also offers dips, spreads, and dressings through grocery stores. In addition, the company provides online and mobile ordering platforms. Cava Group, Inc was founded in 2006 and is headquartered in Washington, the District of Columbia.