CAVA Group (NYSE:CAVA) Earns Hold Rating from Analysts at Melius

Investment analysts at Melius started coverage on shares of CAVA Group (NYSE:CAVA - Get Free Report) in a report released on Monday,Briefing.com Automated Import reports. The firm set a "hold" rating and a $95.00 price target on the stock. Melius' price target points to a potential upside of 4.77% from the company's previous close.

Several other research firms also recently issued reports on CAVA. Citigroup boosted their price objective on CAVA Group from $114.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Wall Street Zen downgraded CAVA Group from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. Bank of America increased their target price on CAVA Group from $112.00 to $121.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. UBS Group cut their target price on CAVA Group from $125.00 to $112.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Finally, JPMorgan Chase & Co. dropped their price objective on CAVA Group from $115.00 to $95.00 and set an "overweight" rating for the company in a research note on Wednesday, June 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $116.56.

CAVA Group Trading Down 0.8%

CAVA opened at $90.68 on Monday. CAVA Group has a 12-month low of $70.00 and a 12-month high of $172.43. The business's fifty day simple moving average is $84.37 and its 200-day simple moving average is $96.55. The company has a market capitalization of $10.49 billion, a price-to-earnings ratio of 76.23, a PEG ratio of 4.32 and a beta of 2.65.

CAVA Group (NYSE:CAVA - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The company reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.08. CAVA Group had a return on equity of 10.61% and a net margin of 13.70%. The company had revenue of $331.83 million during the quarter, compared to analysts' expectations of $327.98 million. During the same period last year, the business posted $0.12 earnings per share. The firm's revenue was up 28.1% compared to the same quarter last year. On average, equities research analysts predict that CAVA Group will post 0.5 EPS for the current year.

Insider Buying and Selling at CAVA Group

In related news, CEO Brett Schulman sold 31,856 shares of the company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $2,394,296.96. Following the sale, the chief executive officer owned 792,318 shares in the company, valued at approximately $59,550,620.88. This represents a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Somers sold 2,861 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $75.16, for a total value of $215,032.76. Following the completion of the sale, the insider owned 137,048 shares in the company, valued at $10,300,527.68. This represents a 2.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,951 shares of company stock valued at $5,409,027 over the last quarter. 6.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CAVA Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in CAVA. GAMMA Investing LLC lifted its stake in shares of CAVA Group by 17,386.7% in the 1st quarter. GAMMA Investing LLC now owns 73,794 shares of the company's stock valued at $6,377,000 after acquiring an additional 73,372 shares during the last quarter. Proficio Capital Partners LLC bought a new position in CAVA Group during the 4th quarter worth $2,697,000. Natixis Advisors LLC raised its position in CAVA Group by 54.1% during the 4th quarter. Natixis Advisors LLC now owns 16,922 shares of the company's stock worth $1,909,000 after purchasing an additional 5,940 shares during the last quarter. Victory Capital Management Inc. raised its position in CAVA Group by 46.7% during the 4th quarter. Victory Capital Management Inc. now owns 29,851 shares of the company's stock worth $3,367,000 after purchasing an additional 9,497 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in CAVA Group by 768.4% during the 1st quarter. SG Americas Securities LLC now owns 220,816 shares of the company's stock worth $19,081,000 after purchasing an additional 195,389 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors.

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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