Brokerages Set CAVA Group, Inc. (NYSE:CAVA) PT at $96.41

Key Points

• CAVA Group, Inc. has an average rating of "Moderate Buy" from eighteen brokerages, with seven holding, ten buying, and one strongly buying the stock.
• Analysts have set varying price targets for CAVA Group, with Barclays lowering it to $74.00 while Robert W. Baird has it at $95.00.
• CAVA reported earnings per share of $0.16 for the latest quarter, exceeding analysts' expectations of $0.13, despite a slight decline in revenue compared to estimates.

CAVA Group, Inc. (NYSE:CAVA - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the eighteen research firms that are covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $96.4118.

A number of equities analysts have commented on CAVA shares. Stifel Nicolaus reduced their price objective on shares of CAVA Group from $175.00 to $125.00 and set a "buy" rating for the company in a research report on Wednesday, June 18th. Citigroup reduced their target price on shares of CAVA Group from $102.00 to $88.00 and set a "neutral" rating for the company in a research report on Wednesday, August 13th. TD Cowen reduced their target price on shares of CAVA Group from $120.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, August 13th. Piper Sandler reduced their target price on shares of CAVA Group from $122.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, August 13th. Finally, KeyCorp reduced their target price on shares of CAVA Group from $100.00 to $85.00 and set an "overweight" rating for the company in a research report on Wednesday, August 13th.

CAVA Group Price Performance

CAVA stock traded up $0.09 during midday trading on Wednesday, reaching $63.65. 6,602,224 shares of the company were exchanged, compared to its average volume of 3,470,031. The business has a 50-day moving average price of $75.69 and a two-hundred day moving average price of $81.74. CAVA Group has a one year low of $61.90 and a one year high of $172.43. The firm has a market capitalization of $7.38 billion, a price-to-earnings ratio of 53.49, a price-to-earnings-growth ratio of 3.18 and a beta of 2.61.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Horizon Advisors Inc. raised its stake in CAVA Group by 1,400.0% in the first quarter. First Horizon Advisors Inc. now owns 285 shares of the company's stock valued at $25,000 after purchasing an additional 266 shares in the last quarter. Vision Financial Markets LLC acquired a new position in CAVA Group in the first quarter valued at about $26,000. Dagco Inc. acquired a new position in CAVA Group in the first quarter valued at about $27,000. Versant Capital Management Inc acquired a new position in CAVA Group in the first quarter valued at about $31,000. Finally, Atlantic Union Bankshares Corp acquired a new position in CAVA Group in the second quarter valued at about $31,000. 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.