Brokerages Set CAVA Group, Inc. (NYSE:CAVA) Price Target at $93.37

CAVA Group, Inc. (NYSE:CAVA) has earned an average rating of “Moderate Buy” from the twenty-eight ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation, seventeen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $93.3704.

Several equities research analysts have commented on the company. Northcoast Research upgraded CAVA Group to a “strong sell” rating in a research note on Tuesday, April 21st. Wolfe Research assumed coverage on CAVA Group in a report on Monday, March 9th. They set an “outperform” rating and a $93.00 target price on the stock. KeyCorp upped their price objective on CAVA Group from $95.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, April 20th. BNP Paribas Exane assumed coverage on CAVA Group in a report on Monday, March 30th. They set a “neutral” rating and a $91.00 target price on the stock. Finally, Weiss Ratings upgraded CAVA Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th.

Insider Buying and Selling at CAVA Group

In related news, insider Kelly Costanza sold 12,490 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $90.00, for a total transaction of $1,124,100.00. Following the completion of the sale, the insider directly owned 98,490 shares in the company, valued at $8,864,100. This represents a 11.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Adam David Phillips sold 757 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $89.43, for a total value of $67,698.51. Following the completion of the transaction, the chief accounting officer owned 6,848 shares of the company’s stock, valued at $612,416.64. This represents a 9.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 91,747 shares of company stock worth $7,970,838 over the last quarter. 6.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CAVA Group

Large investors have recently bought and sold shares of the company. Los Angeles Capital Management LLC bought a new position in shares of CAVA Group during the fourth quarter worth about $25,000. Harbor Investment Advisory LLC raised its position in shares of CAVA Group by 347.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock worth $30,000 after acquiring an additional 400 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of CAVA Group during the third quarter worth about $36,000. TD Private Client Wealth LLC raised its position in shares of CAVA Group by 118.2% during the fourth quarter. TD Private Client Wealth LLC now owns 600 shares of the company’s stock worth $35,000 after acquiring an additional 325 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of CAVA Group by 115.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 647 shares of the company’s stock worth $38,000 after acquiring an additional 347 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors.

CAVA Group Trading Up 1.3%

CAVA Group stock opened at $83.30 on Friday. The business has a 50-day moving average of $83.78 and a 200-day moving average of $75.21. CAVA Group has a 1 year low of $43.41 and a 1 year high of $98.79. The firm has a market capitalization of $9.70 billion, a P/E ratio of 160.20, a PEG ratio of 5.64 and a beta of 1.70.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, May 19th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.03. CAVA Group had a return on equity of 7.92% and a net margin of 4.79%.The business had revenue of $438.27 million during the quarter, compared to analyst estimates of $360.89 million. During the same period in the previous year, the firm earned $0.22 EPS. CAVA Group’s quarterly revenue was up 32.1% compared to the same quarter last year. Research analysts anticipate that CAVA Group will post 0.55 EPS for the current fiscal year.

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.