CAVA Group (NYSE:CAVA) Now Covered by BNP Paribas Exane

Key Points

• BNP Paribas Exane initiated coverage on CAVA with a "neutral" rating and a $91 price target, implying roughly a 20.6% upside from the prior close.
• CAVA's consensus from analysts is a "Moderate Buy" with an average target of $84.92; analyst sentiment includes 2 Strong Buy, 14 Buy and 11 Hold ratings, and several firms recently raised their targets.
• CAVA slightly beat the quarter with $0.04 EPS vs. $0.03 expected and reported revenue of $274.99M, up 20.9% year-over-year; the company has a market cap of about $8.78B and a P/E near 140.

Equities researchers at BNP Paribas Exane initiated coverage on shares of CAVA Group (NYSE:CAVA - Get Free Report) in a research report issued to clients and investors on Monday. The firm set a "neutral" rating and a $91.00 price target on the stock. BNP Paribas Exane's price target indicates a potential upside of 20.58% from the stock's previous close.

Several other analysts also recently weighed in on the company. Truist Financial upped their price objective on CAVA Group from $80.00 to $85.00 and gave the stock a "buy" rating in a research report on Wednesday, February 25th. Mizuho boosted their target price on CAVA Group from $52.00 to $64.00 and gave the stock a "neutral" rating in a research note on Friday, January 9th. Royal Bank Of Canada increased their target price on shares of CAVA Group from $80.00 to $90.00 and gave the stock an "outperform" rating in a report on Wednesday, February 25th. Sanford C. Bernstein lifted their price target on shares of CAVA Group from $75.00 to $84.00 and gave the company an "outperform" rating in a report on Wednesday, February 25th. Finally, Benchmark upgraded shares of CAVA Group to a "strong-buy" rating in a research report on Thursday, February 5th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, CAVA Group presently has an average rating of "Moderate Buy" and a consensus target price of $84.92.

CAVA Group Price Performance

Shares of CAVA opened at $75.47 on Monday. CAVA Group has a one year low of $43.41 and a one year high of $101.50. The company has a market cap of $8.78 billion, a P/E ratio of 139.76, a P/E/G ratio of 6.43 and a beta of 2.15. The firm has a 50 day simple moving average of $73.45 and a two-hundred day simple moving average of $63.72.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its earnings results on Tuesday, February 24th. The company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. CAVA Group had a return on equity of 8.43% and a net margin of 5.40%.The firm had revenue of $274.99 million for the quarter, compared to the consensus estimate of $268.04 million. During the same quarter last year, the business posted $0.05 EPS. The company's revenue was up 20.9% compared to the same quarter last year. On average, analysts expect that CAVA Group will post 0.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CAVA Group news, CEO Brett Schulman sold 21,650 shares of the stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $67.41, for a total value of $1,459,426.50. Following the completion of the transaction, the chief executive officer directly owned 807,325 shares in the company, valued at approximately $54,421,778.25. This trade represents a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kenneth Robert Bertram sold 1,074 shares of CAVA Group stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $67.41, for a total value of $72,398.34. Following the sale, the insider directly owned 50,116 shares in the company, valued at $3,378,319.56. The trade was a 2.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 39,055 shares of company stock worth $2,572,303. Company insiders own 12.10% of the company's stock.

Institutional Investors Weigh In On CAVA Group

Several hedge funds have recently added to or reduced their stakes in the business. Liontrust Investment Partners LLP bought a new stake in shares of CAVA Group in the third quarter worth $43,189,000. Valeo Financial Advisors LLC acquired a new stake in CAVA Group in the second quarter valued at $57,824,000. Leibman Financial Services Inc. raised its position in CAVA Group by 162.9% during the 4th quarter. Leibman Financial Services Inc. now owns 67,324 shares of the company's stock worth $3,951,000 after purchasing an additional 41,712 shares during the last quarter. Renaissance Capital LLC lifted its holdings in CAVA Group by 42.7% during the 3rd quarter. Renaissance Capital LLC now owns 105,730 shares of the company's stock worth $6,387,000 after buying an additional 31,651 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in CAVA Group by 118.3% during the 3rd quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company's stock worth $178,432,000 after buying an additional 1,600,630 shares during the period. 73.15% of the stock is currently owned by institutional investors and hedge funds.

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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