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

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 received an average rating of "Moderate Buy" from the eighteen brokerages that are currently covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $96.4118.

A number of analysts have recently commented on the company. Barclays lowered their price target on CAVA Group from $91.00 to $74.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 13th. Robert W. Baird set a $95.00 target price on shares of CAVA Group in a research note on Wednesday, August 13th. Melius began coverage on shares of CAVA Group in a research report on Monday, July 14th. They set a "hold" rating and a $95.00 price target on the stock. JPMorgan Chase & Co. decreased their price target on shares of CAVA Group from $115.00 to $95.00 and set an "overweight" rating for the company in a report on Wednesday, June 25th. Finally, UBS Group dropped their price objective on CAVA Group from $96.00 to $75.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 13th.

CAVA Group Stock Up 0.8%

CAVA stock opened at $63.03 on Wednesday. CAVA Group has a twelve month low of $62.26 and a twelve month high of $172.43. The company has a market cap of $7.31 billion, a P/E ratio of 52.97, a price-to-earnings-growth ratio of 3.13 and a beta of 2.61. The business's fifty day moving average is $77.38 and its 200-day moving average is $82.20.

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, 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 business had revenue of $280.62 million during the quarter, compared to the consensus estimate of $285.65 million. During the same quarter in the prior year, the company posted $0.17 earnings per share. The firm's revenue was up 20.2% on a year-over-year basis. Research analysts anticipate that CAVA Group will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CAVA Group

Several institutional investors and hedge funds have recently modified their holdings of the business. First Horizon Advisors Inc. lifted 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 buying an additional 266 shares in the last quarter. Vision Financial Markets LLC acquired a new position in CAVA Group in the 1st quarter worth $26,000. Dagco Inc. acquired a new position in CAVA Group in the 1st quarter worth $27,000. Versant Capital Management Inc bought a new position in CAVA Group during the 1st quarter worth about $31,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of CAVA Group in the 2nd quarter valued at about $31,000. 73.15% of the stock is currently owned by institutional investors and hedge funds.

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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