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

Key Points

• CAVA Group, Inc. has received an average rating of “Moderate Buy” from 19 analysts, with a 12-month price target of approximately $99.47.
• Insiders at CAVA Group sold significant shares, with one insider reducing their position by 0.87% and the CFO by 2.01%, indicating potential concerns regarding stock performance.
• The company reported a 20.2% revenue increase year-over-year for the last quarter, with earnings per share of $0.16, surpassing analyst expectations.

Shares of CAVA Group, Inc. (NYSE:CAVA - Get Free Report) have earned an average recommendation of "Moderate Buy" from the nineteen analysts that are presently covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $99.4706.

A number of equities analysts have weighed in on CAVA shares. UBS Group dropped their price target on shares of CAVA Group from $96.00 to $75.00 and set a "neutral" rating for the company in a research report on Wednesday, August 13th. Piper Sandler cut their price target on CAVA Group from $122.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, August 13th. Stifel Nicolaus reduced their target price 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. Morgan Stanley lowered their price target on CAVA Group from $107.00 to $97.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 13th. Finally, Cfra Research raised CAVA Group to a "strong-buy" rating in a research note on Thursday, August 14th.

Insider Buying and Selling

In other news, insider Theodoros Xenohristos sold 3,062 shares of CAVA Group stock in a transaction on Monday, June 16th. The stock was sold at an average price of $75.16, for a total value of $230,139.92. Following the transaction, the insider directly owned 350,209 shares in the company, valued at approximately $26,321,708.44. This trade represents a 0.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Tricia K. Tolivar sold 4,845 shares of CAVA Group stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $75.16, for a total value of $364,150.20. Following the completion of the transaction, the chief financial officer owned 236,345 shares in the company, valued at $17,763,690.20. This trade represents a 2.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,360 shares of company stock valued at $3,634,738 over the last quarter. 6.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On CAVA Group

A number of large investors have recently made changes to their positions in CAVA. First Horizon Advisors Inc. boosted its holdings in CAVA Group by 1,400.0% in the first quarter. First Horizon Advisors Inc. now owns 285 shares of the company's stock worth $25,000 after acquiring an additional 266 shares in the last quarter. Vision Financial Markets LLC acquired a new stake in CAVA Group during the first quarter valued at $26,000. Dagco Inc. acquired a new position in CAVA Group in the 1st quarter worth about $27,000. Versant Capital Management Inc purchased a new position in shares of CAVA Group during the 1st quarter valued at approximately $31,000. Finally, Atlantic Union Bankshares Corp purchased a new position in CAVA Group during the second quarter valued at $31,000. 73.15% of the stock is owned by institutional investors and hedge funds.

CAVA Group Trading Up 1.6%

Shares of CAVA stock opened at $68.3810 on Friday. The stock has a market capitalization of $7.93 billion, a P/E ratio of 57.46, a P/E/G ratio of 3.37 and a beta of 2.65. CAVA Group has a 12-month low of $65.70 and a 12-month high of $172.43. The firm's 50 day moving average is $81.98 and its 200 day moving average is $88.99.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.03. CAVA Group had a return on equity of 9.83% and a net margin of 12.98%.The company had revenue of $280.62 million during the quarter, compared to analysts' expectations of $285.65 million. During the same quarter in the prior year, the business earned $0.17 earnings per share. CAVA Group's revenue for the quarter was up 20.2% compared to the same quarter last year. As a group, equities analysts predict that CAVA Group will post 0.5 earnings per share for the current year.

CAVA Group Company Profile

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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