CAVA Group (NYSE:CAVA) Coverage Initiated by Analysts at Bank of America

Bank of America initiated coverage on shares of CAVA Group (NYSE:CAVA) in a research note issued to investors on Monday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $112.00 price objective on the stock.

Several other research analysts also recently weighed in on the stock. Barclays decreased their price target on shares of CAVA Group from $127.00 to $104.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Citigroup decreased their target price on CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Wedbush reissued an “outperform” rating and set a $150.00 price target on shares of CAVA Group in a report on Wednesday, February 26th. UBS Group decreased their price objective on CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. upgraded CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 price objective for the company in a research note on Thursday, March 20th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $130.25.

CAVA Group Price Performance

Shares of CAVA opened at $86.53 on Monday. The firm has a market capitalization of $10.00 billion, a P/E ratio of 188.10 and a beta of 3.58. CAVA Group has a one year low of $58.22 and a one year high of $172.43. The business has a fifty day moving average of $107.40 and a 200 day moving average of $121.67.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The firm had revenue of $227.40 million for the quarter, compared to the consensus estimate of $223.34 million. Analysts expect that CAVA Group will post 0.5 EPS for the current fiscal year.

Insider Activity at CAVA Group

In other news, CAO Adam David Phillips sold 615 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $76,499.85. Following the sale, the chief accounting officer now directly owns 10,884 shares of the company’s stock, valued at $1,353,860.76. This represents a 5.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kenneth Robert Bertram sold 678 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $84,336.42. Following the completion of the transaction, the insider now directly owns 57,312 shares of the company’s stock, valued at approximately $7,129,039.68. This trade represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,235 shares of company stock valued at $3,514,101. Corporate insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

Hedge funds have recently bought and sold shares of the business. Jennison Associates LLC increased its holdings in shares of CAVA Group by 36,658.7% in the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock worth $277,683,000 after buying an additional 2,455,035 shares during the last quarter. Vanguard Group Inc. increased its stake in CAVA Group by 20.4% during the fourth quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company’s stock worth $903,709,000 after acquiring an additional 1,357,187 shares during the last quarter. Man Group plc raised its position in CAVA Group by 563.7% during the fourth quarter. Man Group plc now owns 935,075 shares of the company’s stock valued at $105,476,000 after purchasing an additional 794,187 shares during the period. Geode Capital Management LLC lifted its stake in shares of CAVA Group by 121.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock valued at $151,492,000 after purchasing an additional 669,599 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of CAVA Group by 116.7% in the 4th quarter. Barclays PLC now owns 84,755 shares of the company’s stock worth $9,560,000 after purchasing an additional 591,866 shares during the period. Hedge funds and other institutional investors own 73.15% of the company’s stock.

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.