CAVA Group, Inc. (NYSE:CAVA) Given Average Rating of "Moderate Buy" by Brokerages

CAVA Group, Inc. (NYSE:CAVA - Get Free Report) has earned an average recommendation of "Moderate Buy" from the eighteen brokerages that are covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $117.82.

Several brokerages have recently commented on CAVA. Stifel Nicolaus decreased their price objective on shares of CAVA Group from $175.00 to $125.00 and set a "buy" rating on the stock in a report on Wednesday, June 18th. KeyCorp began coverage on shares of CAVA Group in a report on Wednesday. They issued an "overweight" rating and a $100.00 price objective 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 on the stock in a report on Wednesday, April 23rd. UBS Group decreased their price objective on shares of CAVA Group from $125.00 to $112.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Finally, Robert W. Baird upped their target price on shares of CAVA Group from $105.00 to $115.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th.

CAVA Group Stock Up 5.1%

CAVA stock opened at $86.94 on Friday. The stock has a market capitalization of $10.06 billion, a P/E ratio of 72.45, a P/E/G ratio of 3.88 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 firm has a 50-day simple moving average of $84.90 and a 200-day simple moving average of $98.08.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.08. The firm had revenue of $331.83 million for the quarter, compared to analyst estimates of $327.98 million. CAVA Group had a net margin of 13.70% and a return on equity of 10.61%. CAVA Group's quarterly revenue was up 28.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.12 earnings per share. On average, analysts expect that CAVA Group will post 0.5 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Brett Schulman sold 31,856 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $75.16, for a total value of $2,394,296.96. Following the completion of the sale, the chief executive officer owned 792,318 shares in the company, valued at approximately $59,550,620.88. This trade represents a 3.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Adam David Phillips sold 739 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $55,543.24. Following the completion of the sale, the chief accounting officer owned 11,063 shares of the company's stock, valued at $831,495.08. This trade represents a 6.26% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,951 shares of company stock worth $5,409,027. 6.80% of the stock is currently owned by insiders.

Institutional Trading of CAVA Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Voya Investment Management LLC increased its holdings in CAVA Group by 219.5% during the 1st quarter. Voya Investment Management LLC now owns 386,330 shares of the company's stock valued at $33,383,000 after acquiring an additional 265,416 shares in the last quarter. Cim LLC increased its holdings in CAVA Group by 2.6% during 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 in the last quarter. Strs Ohio purchased a new stake in shares of CAVA Group during the first quarter worth about $766,000. Advisors Capital Management LLC purchased a new stake in shares of CAVA Group during the first quarter worth about $1,853,000. Finally, Belpointe Asset Management LLC purchased a new stake in shares of CAVA Group during the first quarter worth about $254,000. Institutional investors and hedge funds own 73.15% of the company's stock.

About CAVA Group

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.

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