CAVA Group, Inc. (NYSE:CAVA) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• CAVA Group, Inc. has received a consensus rating of "Moderate Buy" from 20 research firms, with an average 1-year target price of $95.50.
• Several brokerages have adjusted their price targets on CAVA, with Citigroup lowering it from $102.00 to $88.00, while TD Cowen set its target at $90.00.
• CAVA Group reported $0.16 earnings per share in its latest quarterly results, beating analysts' estimates of $0.13, and its revenue increased 20.2% year-over-year.

CAVA Group, Inc. (NYSE:CAVA - Get Free Report) has been assigned an average rating of "Moderate Buy" from the twenty research firms that are covering the stock, Marketbeat reports. Eight analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $95.50.

Several brokerages have recently commented on CAVA. Citigroup lowered their price objective on CAVA Group from $102.00 to $88.00 and set a "neutral" rating for the company in a research note on Wednesday, August 13th. KeyCorp lowered their price objective on CAVA Group from $100.00 to $85.00 and set an "overweight" rating for the company in a research note on Wednesday, August 13th. TD Cowen decreased their price target on CAVA Group from $120.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, August 13th. Argus set a $76.00 price target on CAVA Group in a research report on Tuesday, September 2nd. Finally, Barclays decreased their price target on CAVA Group from $91.00 to $74.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 13th.

Institutional Trading of CAVA Group

Institutional investors and hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. increased its position in shares of CAVA Group by 123.4% during the first quarter. PNC Financial Services Group Inc. now owns 5,458 shares of the company's stock valued at $472,000 after acquiring an additional 3,015 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of CAVA Group by 5.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 554,934 shares of the company's stock valued at $47,952,000 after acquiring an additional 27,066 shares during the last quarter. Lewis Asset Management LLC purchased a new stake in shares of CAVA Group during the second quarter valued at approximately $504,000. Diversified Trust Co grew its holdings in CAVA Group by 106.9% during the second quarter. Diversified Trust Co now owns 7,742 shares of the company's stock valued at $652,000 after purchasing an additional 4,000 shares during the period. Finally, Crossmark Global Holdings Inc. purchased a new stake in CAVA Group in the first quarter worth $257,000. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Stock Performance

CAVA stock opened at $62.27 on Friday. The stock's 50 day simple moving average is $68.11 and its 200 day simple moving average is $79.70. CAVA Group has a fifty-two week low of $58.33 and a fifty-two week high of $172.43. The company has a market cap of $7.22 billion, a P/E ratio of 52.33, a price-to-earnings-growth ratio of 3.11 and a beta of 2.50.

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

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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