CAVA Group (NYSE:CAVA) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded CAVA from a "sell" to a "hold," and the street consensus remains a Moderate Buy with an average price target of $85.92 (notable broker TD Cowen raised its target to $100).
• CAVA beat its most recent quarter with $0.04 EPS vs. $0.03 expected and revenue of $274.99M (up 20.9% YoY), while the stock trades near $84.86 with a market cap of about $9.88B and a high P/E of 157.15.
• Insiders have been net sellers — about 39,055 shares (~$2.57M) sold in the last 90 days — leaving insiders with 6.8% ownership while institutions hold roughly 73.15% of the stock.

CAVA Group (NYSE:CAVA - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday.

Several other brokerages also recently issued reports on CAVA. TD Cowen upped their price target on shares of CAVA Group from $90.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, April 2nd. UBS Group upped their price target on shares of CAVA Group from $69.00 to $75.00 and gave the company a "neutral" rating in a report on Wednesday, February 25th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of CAVA Group in a report on Wednesday, January 21st. Johnson Rice set a $72.00 price target on shares of CAVA Group in a report on Monday, January 5th. Finally, BNP Paribas Exane began coverage on shares of CAVA Group in a report on Monday, March 30th. They issued a "neutral" rating and a $91.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $85.92.

CAVA Group Trading Down 1.5%

CAVA stock opened at $84.86 on Friday. The company has a market cap of $9.88 billion, a P/E ratio of 157.15, a P/E/G ratio of 7.31 and a beta of 2.03. CAVA Group has a 52 week low of $43.41 and a 52 week high of $101.50. The company's 50-day moving average price is $76.82 and its 200 day moving average price is $65.00.

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

Insider Buying and Selling at CAVA Group

In related news, insider Kenneth Robert Bertram sold 1,074 shares of the company's stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $67.41, for a total transaction of $72,398.34. Following the transaction, the insider owned 50,116 shares of the company's stock, valued at approximately $3,378,319.56. This represents a 2.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Tricia K. Tolivar sold 2,404 shares of the company's stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $149,384.56. Following the transaction, the chief financial officer directly owned 231,934 shares in the company, valued at $14,412,378.76. The trade was a 1.03% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 39,055 shares of company stock valued at $2,572,303. 6.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CAVA Group

Several institutional investors and hedge funds have recently modified their holdings of CAVA. Los Angeles Capital Management LLC purchased a new position in shares of CAVA Group during the fourth quarter valued at approximately $25,000. Cornerstone Planning Group LLC increased its position in CAVA Group by 378.7% during the third quarter. Cornerstone Planning Group LLC now owns 450 shares of the company's stock worth $27,000 after purchasing an additional 356 shares during the last quarter. Harbor Investment Advisory LLC increased its position in CAVA Group by 347.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 515 shares of the company's stock worth $30,000 after purchasing an additional 400 shares during the last quarter. Toth Financial Advisory Corp increased its position in CAVA Group by 656.7% during the third quarter. Toth Financial Advisory Corp now owns 507 shares of the company's stock worth $31,000 after purchasing an additional 440 shares during the last quarter. Finally, Western Pacific Wealth Management LP acquired a new position in CAVA Group during the third quarter worth approximately $33,000. Hedge funds and other institutional investors own 73.15% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.