CAVA Group (NYSE:CAVA) Upgraded at KeyCorp

CAVA Group (NYSE:CAVA) was upgraded by analysts at KeyCorp to a “strong-buy” rating in a research note issued to investors on Tuesday, MarketBeat.com reports.

Several other research analysts have also commented on the stock. Sanford C. Bernstein upgraded shares of CAVA Group from a “market perform” rating to an “outperform” rating and set a $115.00 price objective for the company in a research note on Wednesday, April 23rd. UBS Group reduced their price target on CAVA Group from $125.00 to $112.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. Robert W. Baird increased their price objective on CAVA Group from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, May 16th. JPMorgan Chase & Co. lowered their price objective on CAVA Group from $115.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, June 25th. Finally, Bank of America upped their target price on CAVA Group from $112.00 to $121.00 and gave the company a “buy” rating in a research report on Monday, May 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $117.82.

CAVA Group Stock Up 0.6%

Shares of CAVA stock opened at $82.78 on Tuesday. The firm has a market cap of $9.57 billion, a price-to-earnings ratio of 68.98, a PEG ratio of 3.86 and a beta of 2.65. CAVA Group has a 52-week low of $70.00 and a 52-week high of $172.43. The company’s 50 day moving average is $84.98 and its 200 day moving average is $98.36.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Thursday, May 15th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.08. CAVA Group had a return on equity of 10.61% and a net margin of 13.70%. The business had revenue of $331.83 million for the quarter, compared to the consensus estimate of $327.98 million. During the same period last year, the business posted $0.12 EPS. The business’s revenue was up 28.1% compared to the same quarter last year. Analysts anticipate that CAVA Group will post 0.5 EPS for the current fiscal year.

Insider Activity at CAVA Group

In related news, insider Jennifer Somers sold 2,861 shares of CAVA Group stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $215,032.76. Following the completion of the transaction, the insider directly owned 137,048 shares in the company, valued at approximately $10,300,527.68. This trade represents a 2.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Theodoros Xenohristos sold 3,062 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $75.16, for a total value of $230,139.92. Following the completion of the sale, the insider owned 350,209 shares in the company, valued at approximately $26,321,708.44. This represents a 0.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,951 shares of company stock worth $5,409,027 in the last three months. Company insiders own 6.80% of the company’s stock.

Institutional Trading of CAVA Group

A number of hedge funds have recently added to or reduced their stakes in CAVA. Voya Investment Management LLC increased its position in shares of CAVA Group by 219.5% in the first quarter. Voya Investment Management LLC now owns 386,330 shares of the company’s stock valued at $33,383,000 after buying an additional 265,416 shares in the last quarter. Cim LLC grew its stake in CAVA Group by 2.6% in the 1st quarter. Cim LLC now owns 9,755 shares of the company’s stock valued at $843,000 after acquiring an additional 247 shares during the period. Strs Ohio purchased a new stake in CAVA Group in the 1st quarter worth $766,000. Advisors Capital Management LLC acquired a new position in CAVA Group during the first quarter worth $1,853,000. Finally, Belpointe Asset Management LLC purchased a new position in CAVA Group during the first quarter valued at $254,000. 73.15% of the stock is owned by hedge funds and other 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.