Citigroup Increases CAVA Group (NYSE:CAVA) Price Target to $75.00

CAVA Group (NYSE:CAVAGet Free Report) had its price objective raised by stock analysts at Citigroup from $74.00 to $75.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price objective suggests a potential downside of 11.39% from the stock’s previous close.

CAVA has been the topic of several other research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CAVA Group in a report on Wednesday, January 21st. Piper Sandler lifted their price objective on CAVA Group from $71.00 to $85.00 and gave the stock an “overweight” rating in a research report on Wednesday. Truist Financial set a $85.00 price objective on CAVA Group in a report on Wednesday. Mizuho upped their target price on shares of CAVA Group from $52.00 to $64.00 and gave the company a “neutral” rating in a research report on Friday, January 9th. Finally, Argus reduced their target price on shares of CAVA Group from $76.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $85.75.

View Our Latest Report on CAVA Group

CAVA Group Trading Up 24.8%

NYSE CAVA traded up $16.84 during trading hours on Wednesday, reaching $84.64. 12,283,540 shares of the company’s stock were exchanged, compared to its average volume of 3,770,541. The firm has a fifty day moving average of $64.66 and a 200-day moving average of $61.52. CAVA Group has a one year low of $43.41 and a one year high of $101.58. The stock has a market cap of $9.82 billion, a PE ratio of 72.78, a price-to-earnings-growth ratio of 5.02 and a beta of 2.41.

CAVA Group (NYSE:CAVAGet Free Report) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The company had revenue of $274.99 million for the quarter, compared to analyst estimates of $268.04 million. CAVA Group had a return on equity of 8.88% and a net margin of 12.14%.The business’s revenue was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.05 earnings per share. As a group, research analysts forecast that CAVA Group will post 0.5 EPS for the current year.

Insider Activity

In related news, insider Theodoros Xenohristos sold 1,039 shares of the stock in a transaction that occurred on Tuesday, January 27th. The shares were 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 in the company, valued at $20,643,218.70. This trade represents a 0.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Tricia K. Tolivar sold 2,404 shares of CAVA Group stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total transaction of $149,384.56. Following the transaction, the chief financial officer directly owned 231,934 shares in the company, valued at $14,412,378.76. The trade was a 1.03% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 39,055 shares of company stock valued at $2,572,303. Insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in CAVA Group by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 9,345,976 shares of the company’s stock worth $564,590,000 after purchasing an additional 313,938 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of CAVA Group by 27.2% during the fourth quarter. Capital Research Global Investors now owns 8,440,040 shares of the company’s stock worth $495,344,000 after buying an additional 1,805,174 shares in the last quarter. Capital International Investors raised its position in CAVA Group by 15.5% in the 4th quarter. Capital International Investors now owns 4,885,317 shares of the company’s stock valued at $286,718,000 after buying an additional 656,581 shares during the last quarter. Morgan Stanley lifted its stake in CAVA Group by 33.7% in the 4th quarter. Morgan Stanley now owns 3,318,894 shares of the company’s stock valued at $194,786,000 after acquiring an additional 835,628 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in CAVA Group by 118.3% in the 3rd quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company’s stock valued at $178,432,000 after acquiring an additional 1,600,630 shares in the last quarter. Institutional investors own 73.15% of the company’s stock.

CAVA Group News Summary

Here are the key news stories impacting CAVA Group this week:

CAVA Group Company Profile

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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.

Further Reading

Analyst Recommendations for CAVA Group (NYSE:CAVA)

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