CAVA Group (NYSE:CAVA) Stock Rating Upgraded by Robert W. Baird

CAVA Group (NYSE:CAVA) was upgraded by stock analysts at Robert W. Baird to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

A number of other equities research analysts have also commented on CAVA. Citigroup restated a “buy” rating on shares of CAVA Group in a report on Tuesday, July 28th. Guggenheim dropped their price objective on CAVA Group from $100.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, August 13th. Barclays upped their target price on shares of CAVA Group from $70.00 to $74.00 and gave the company an “equal weight” rating in a report on Wednesday, May 20th. Stifel Nicolaus increased their price target on CAVA Group from $90.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Finally, Telsey Advisory Group lifted their price objective on shares of CAVA Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $89.44.

CAVA Group Price Performance

CAVA Group stock opened at $69.25 on Monday. The firm has a market capitalization of $8.09 billion, a price-to-earnings ratio of 125.92, a PEG ratio of 4.95 and a beta of 1.74. The company’s 50 day simple moving average is $71.28 and its 200 day simple moving average is $77.39. CAVA Group has a fifty-two week low of $43.41 and a fifty-two week high of $98.79.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $368.44 million during the quarter, compared to analysts’ expectations of $360.09 million. CAVA Group had a net margin of 4.82% and a return on equity of 8.28%. The firm’s quarterly revenue was up 31.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 EPS. As a group, analysts predict that CAVA Group will post 0.53 EPS for the current fiscal year.

Insider Transactions at CAVA Group

In other CAVA Group news, insider Kelly Costanza sold 12,490 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $90.00, for a total transaction of $1,124,100.00. Following the transaction, the insider 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 document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Tricia K. Tolivar sold 4,969 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $89.43, for a total transaction of $444,377.67. Following the transaction, the chief financial officer directly owned 234,931 shares in the company, valued at $21,009,879.33. This represents a 2.07% 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. Over the last ninety days, insiders have sold 67,512 shares of company stock worth $6,050,417. Company insiders own 6.70% of the company’s stock.

Hedge Funds Weigh In On CAVA Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. bought a new stake in CAVA Group during the second quarter worth $1,551,000. Trillium Asset Management LLC bought a new stake in shares of CAVA Group during the 2nd quarter worth $3,279,000. Prospect Financial Services LLC acquired a new stake in CAVA Group in the second quarter valued at about $1,348,000. Prime Capital Management Co Ltd boosted its stake in CAVA Group by 90.6% in the fourth quarter. Prime Capital Management Co Ltd now owns 1,031,630 shares of the company’s stock valued at $60,546,000 after buying an additional 490,300 shares in the last quarter. Finally, Norges Bank acquired a new position in CAVA Group during the fourth quarter worth about $50,278,000. 73.15% of the stock is owned by institutional investors and hedge funds.

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.