CAVA Group (NYSE:CAVA) Raised to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded CAVA from "sell" to "hold," while consensus among analysts remains a Moderate Buy (1 Strong Buy, 16 Buy, 11 Hold, 1 Sell) with a consensus price target of $89.07.
• CAVA slightly beat the quarter with EPS of $0.04 versus $0.03 expected and revenue of $274.99 million (up 20.9% year-over-year), showing continued top-line growth.
• The stock trades at a premium with a market cap of $10.59 billion and a P/E of 168.42, opened at $90.95 (52-week range $43.41–$101.50), and is 73.15% institutionally owned.

CAVA Group (NYSE:CAVA - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Sunday.

A number of other equities analysts have also recently issued reports on the company. Argus restated a "hold" rating on shares of CAVA Group in a report on Friday, February 27th. Wolfe Research began coverage on CAVA Group in a report on Monday, March 9th. They set an "outperform" rating and a $93.00 price objective for the company. BNP Paribas Exane began coverage on CAVA Group in a report on Monday, March 30th. They set a "neutral" rating and a $91.00 price objective for the company. TD Cowen boosted their price objective on CAVA Group from $90.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, April 2nd. Finally, Citigroup boosted their price objective on CAVA Group from $74.00 to $75.00 and gave the company a "neutral" rating in a report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, CAVA Group has an average rating of "Moderate Buy" and a consensus target price of $89.07.

CAVA Group Stock Down 2.6%

CAVA opened at $90.95 on Friday. The business has a fifty day moving average of $84.33 and a 200 day moving average of $67.93. CAVA Group has a 52-week low of $43.41 and a 52-week high of $101.50. The stock has a market cap of $10.59 billion, a P/E ratio of 168.42, a PEG ratio of 6.48 and a beta of 1.90.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $0.04 earnings per share (EPS) 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 company had revenue of $274.99 million during the quarter, compared to analysts' expectations of $268.04 million. During the same quarter in the previous year, the business earned $0.05 EPS. CAVA Group's revenue was up 20.9% compared to the same quarter last year. Equities analysts anticipate that CAVA Group will post 0.52 EPS for the current fiscal year.

Institutional Investors Weigh In On CAVA Group

A number of institutional investors and hedge funds have recently bought and sold shares of CAVA. Los Angeles Capital Management LLC bought a new stake in CAVA Group during the 4th quarter valued at $25,000. Cornerstone Planning Group LLC raised its position in CAVA Group by 378.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 450 shares of the company's stock valued at $27,000 after purchasing an additional 356 shares in the last quarter. Harbor Investment Advisory LLC raised its position in shares of CAVA Group by 347.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 515 shares of the company's stock worth $30,000 after acquiring an additional 400 shares in the last quarter. CNB Bank raised its position in shares of CAVA Group by 275.8% in the 3rd quarter. CNB Bank now owns 575 shares of the company's stock worth $35,000 after acquiring an additional 422 shares in the last quarter. Finally, TD Private Client Wealth LLC raised its position in shares of CAVA Group by 118.2% in the 4th quarter. TD Private Client Wealth LLC now owns 600 shares of the company's stock worth $35,000 after acquiring an additional 325 shares in 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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