CAVA Group’s (CAVA) Outperform Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group reaffirmed their outperform rating on shares of CAVA Group (NYSE:CAVA) in a report published on Thursday morning,Benzinga reports. The firm currently has a $85.00 price objective on the stock.

Other analysts have also recently issued research reports about the company. TD Cowen reiterated a “buy” rating on shares of CAVA Group in a research report on Monday, January 5th. Johnson Rice set a $72.00 price objective on shares of CAVA Group in a research report on Monday, January 5th. Barclays upped their target price on CAVA Group from $52.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 7th. Piper Sandler lowered their price target on CAVA Group from $100.00 to $71.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Finally, Royal Bank Of Canada set a $70.00 target price on shares of CAVA Group in a research report on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $82.21.

CAVA Group Stock Performance

CAVA Group stock opened at $68.39 on Thursday. The stock’s fifty day moving average is $63.69 and its two-hundred day moving average is $62.26. The firm has a market capitalization of $7.93 billion, a price-to-earnings ratio of 58.96, a price-to-earnings-growth ratio of 4.98 and a beta of 2.41. CAVA Group has a fifty-two week low of $43.41 and a fifty-two week high of $119.21.

Insider Activity

In other CAVA Group news, CEO Brett Schulman sold 21,650 shares of the firm’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $67.41, for a total transaction of $1,459,426.50. Following the completion of the sale, the chief executive officer directly owned 807,325 shares in the company, valued at approximately $54,421,778.25. This trade represents a 2.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Theodoros Xenohristos sold 1,039 shares of the firm’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total value of $64,563.46. Following the sale, the insider directly owned 332,205 shares of the company’s stock, valued at $20,643,218.70. This trade represents a 0.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 42,843 shares of company stock worth $2,764,355. 6.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CAVA. Bison Wealth LLC bought a new stake in CAVA Group in the 4th quarter valued at $208,000. Goldman Sachs Group Inc. boosted its position in shares of CAVA Group by 14.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 606,780 shares of the company’s stock valued at $52,432,000 after acquiring an additional 75,828 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in CAVA Group by 17.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 236,622 shares of the company’s stock valued at $20,447,000 after acquiring an additional 34,860 shares during the period. Vanguard Personalized Indexing Management LLC raised its position in CAVA Group by 44.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,013 shares of the company’s stock worth $338,000 after purchasing an additional 1,229 shares in the last quarter. Finally, CWM LLC lifted its stake in CAVA Group by 94.6% during the second quarter. CWM LLC now owns 3,616 shares of the company’s stock worth $305,000 after purchasing an additional 1,758 shares during the period. 73.15% of the stock is owned by institutional investors.

About CAVA Group

CAVA Group, Inc (NYSE: CAVA) is a leading fast-casual restaurant company specializing in Mediterranean-inspired cuisine. Operating under the CAVA brand, the company offers customizable bowls, pitas and salads built around a variety of proteins, grains, fresh vegetables and house-made spreads. With a focus on high-quality ingredients and made-to-order preparation, CAVA aims to deliver a casual yet elevated dining experience for dine-in, takeout and catering customers.

Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe’s Kitchen.