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

Key Points

• Analysts maintain a “Moderate Buy” consensus on CAVA Group, with 18 buy ratings, eight holds, one sell and one strong buy. The average 12-month price target is $92.46.
• CAVA reported quarterly earnings of $0.20 per share, beating estimates by $0.03, while revenue rose 32.1% year over year to $438.27 million, above the $360.89 million consensus.
• Insiders sold 91,747 shares worth approximately $7.97 million over the past three months, while institutional investors own 73.15% of the company.

CAVA Group, Inc. (NYSE:CAVA - Get Free Report) has received an average rating of "Moderate Buy" from the twenty-eight ratings firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $92.4615.

Several research firms recently issued reports on CAVA. Citigroup restated a "buy" rating on shares of CAVA Group in a research note on Tuesday, July 28th. Robert W. Baird lifted their target price on CAVA Group from $88.00 to $98.00 and gave the stock an "outperform" rating in a report on Wednesday, May 20th. Royal Bank Of Canada dropped their price objective on shares of CAVA Group from $105.00 to $90.00 and set an "outperform" rating for the company in a research note on Thursday. Stifel Nicolaus boosted their price objective on shares of CAVA Group from $90.00 to $105.00 and gave the company a "buy" rating in a report on Wednesday, May 20th. Finally, Northcoast Research raised shares of CAVA Group to a "strong sell" rating in a report on Tuesday, April 21st.

CAVA Group Stock Up 0.2%

Shares of CAVA stock opened at $62.33 on Friday. The firm has a 50 day moving average price of $73.56 and a two-hundred day moving average price of $76.86. The company has a market capitalization of $7.26 billion, a PE ratio of 119.86, a price-to-earnings-growth ratio of 4.29 and a beta of 1.74. CAVA Group has a 12-month low of $43.41 and a 12-month high of $98.79.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its earnings results on Tuesday, May 19th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.17 by $0.03. The company had revenue of $438.27 million for the quarter, compared to the consensus estimate of $360.89 million. CAVA Group had a return on equity of 7.92% and a net margin of 4.79%.The firm's revenue for the quarter was up 32.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.22 earnings per share. As a group, research analysts expect that CAVA Group will post 0.54 EPS for the current year.

Insider Transactions at CAVA Group

In related news, Director Karen Kochevar sold 10,000 shares of the firm's stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $90.00, for a total value of $900,000.00. Following the transaction, the director owned 3,074 shares in the company, valued at approximately $276,660. This trade represents a 76.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kelly Costanza sold 12,490 shares of the business's stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $90.00, for a total value of $1,124,100.00. Following the completion of the transaction, the insider directly owned 98,490 shares of the company's stock, valued at approximately $8,864,100. This trade represents a 11.25% decrease in their position. 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 three months, insiders sold 91,747 shares of company stock worth $7,970,838. Corporate insiders own 6.70% of the company's stock.

Hedge Funds Weigh In On CAVA Group

Hedge funds have recently bought and sold shares of the company. Los Angeles Capital Management LLC bought a new stake in shares of CAVA Group during the 4th quarter worth approximately $25,000. FNY Investment Advisers LLC bought a new position in CAVA Group in the second quarter valued at approximately $31,000. TD Private Client Wealth LLC raised its position in CAVA Group by 118.2% during the fourth quarter. TD Private Client Wealth LLC now owns 600 shares of the company's stock valued at $35,000 after purchasing an additional 325 shares in the last quarter. Allworth Financial LP raised its position in CAVA Group by 57.4% during the fourth quarter. Allworth Financial LP now owns 650 shares of the company's stock valued at $38,000 after purchasing an additional 237 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in CAVA Group by 115.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 647 shares of the company's stock worth $38,000 after purchasing an additional 347 shares during the last quarter. 73.15% of the stock is owned by institutional investors.

CAVA Group Company Profile

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.

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