CAVA Group, Inc. (NYSE:CAVA) Given Average Rating of “Moderate Buy” by Brokerages

CAVA Group, Inc. (NYSE:CAVA) has been assigned an average rating of “Moderate Buy” from the sixteen brokerages that are covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $131.47.

Several research analysts have commented on CAVA shares. Citigroup lowered their target price on CAVA Group from $163.00 to $140.00 and set a “neutral” rating for the company in a research note on Friday, February 21st. Loop Capital reduced their price target on CAVA Group from $147.00 to $100.00 and set a “hold” rating on the stock in a report on Thursday. Stifel Nicolaus boosted their price target on CAVA Group from $118.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Morgan Stanley boosted their price target on CAVA Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Finally, Robert W. Baird boosted their price target on CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a report on Monday, November 4th.

Insider Activity at CAVA Group

In other CAVA Group news, insider Theodoros Xenohristos sold 851 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $101,422.18. Following the transaction, the insider now directly owns 358,995 shares of the company’s stock, valued at approximately $42,785,024.10. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronald M. Shaich sold 622,549 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $149.40, for a total value of $93,008,820.60. Following the completion of the transaction, the director now directly owns 6,307 shares in the company, valued at approximately $942,265.80. This trade represents a 99.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 651,784 shares of company stock worth $96,522,922 over the last ninety days. Insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On CAVA Group

A number of institutional investors have recently modified their holdings of CAVA. Jennison Associates LLC raised its position in shares of CAVA Group by 36,658.7% during the fourth quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock worth $277,683,000 after purchasing an additional 2,455,035 shares during the period. Vanguard Group Inc. raised its position in shares of 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 purchasing an additional 1,357,187 shares during the period. Man Group plc raised its position in shares of CAVA Group by 563.7% during the fourth quarter. Man Group plc now owns 935,075 shares of the company’s stock worth $105,476,000 after purchasing an additional 794,187 shares during the period. Geode Capital Management LLC raised its position in shares of CAVA Group by 121.0% during the third quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock worth $151,492,000 after purchasing an additional 669,599 shares during the period. Finally, Barclays PLC raised its position in shares of CAVA Group by 116.7% during the fourth 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. 73.15% of the stock is owned by institutional investors and hedge funds.

CAVA Group Trading Up 5.4 %

Shares of NYSE CAVA opened at $94.98 on Friday. The company has a market cap of $10.88 billion, a price-to-earnings ratio of 206.47 and a beta of 3.25. CAVA Group has a 12 month low of $56.03 and a 12 month high of $172.43. The stock has a 50-day moving average price of $121.21 and a two-hundred day moving average price of $125.53.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $227.40 million for the quarter, compared to analyst estimates of $223.34 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. On average, sell-side analysts predict that CAVA Group will post 0.5 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.