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

Shares of CAVA Group, Inc. (NYSE:CAVA) have been given an average rating of “Moderate Buy” by the sixteen brokerages that are currently covering the company, Marketbeat reports. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $115.64.

A number of research analysts have recently commented on CAVA shares. Stifel Nicolaus upped their price objective on shares of CAVA Group from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Citigroup boosted their target price on CAVA Group from $93.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Loop Capital boosted their target price on CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a report on Monday, August 26th. Robert W. Baird boosted their target price on CAVA Group from $105.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Finally, Morgan Stanley cut CAVA Group from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $90.00 to $110.00 in a report on Thursday, August 29th.

Insider Activity

In other news, Director Theodoros Xenohristos sold 98,490 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the completion of the transaction, the director now directly owns 424,846 shares in the company, valued at approximately $53,432,881.42. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Theodoros Xenohristos sold 98,490 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the completion of the transaction, the director now directly owns 424,846 shares in the company, valued at approximately $53,432,881.42. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Brett Schulman sold 201,504 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.53, for a total value of $25,294,797.12. Following the transaction, the chief executive officer now owns 702,590 shares of the company’s stock, valued at $88,196,122.70. The disclosure for this sale can be found here. In the last three months, insiders sold 304,994 shares of company stock worth $38,310,084.

Institutional Investors Weigh In On CAVA Group

Several institutional investors and hedge funds have recently made changes to their positions in CAVA. Jamison Private Wealth Management Inc. acquired a new stake in shares of CAVA Group during the 2nd quarter valued at approximately $28,000. Nemes Rush Group LLC acquired a new stake in CAVA Group in the second quarter worth $28,000. CWM LLC increased its position in CAVA Group by 101.2% in the first quarter. CWM LLC now owns 505 shares of the company’s stock worth $35,000 after buying an additional 254 shares during the period. Mark Sheptoff Financial Planning LLC acquired a new stake in CAVA Group in the second quarter worth $36,000. Finally, Headlands Technologies LLC acquired a new stake in CAVA Group in the second quarter worth $37,000. 73.15% of the stock is owned by institutional investors and hedge funds.

CAVA Group Trading Down 1.1 %

Shares of CAVA stock opened at $122.44 on Wednesday. The firm has a 50-day moving average price of $106.06 and a 200 day moving average price of $88.00. CAVA Group has a twelve month low of $29.05 and a twelve month high of $131.82. The company has a market capitalization of $13.96 billion, a price-to-earnings ratio of 298.63 and a beta of 3.34.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Thursday, August 22nd. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. The company had revenue of $233.50 million during the quarter, compared to the consensus estimate of $219.47 million. During the same quarter in the prior year, the company posted $0.21 EPS. The company’s quarterly revenue was up 35.1% compared to the same quarter last year. As a group, research analysts predict that CAVA Group will post 0.43 earnings per share for the current year.

About CAVA Group

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.