Barclays Initiates Coverage on CAVA Group (NYSE:CAVA)

Barclays started coverage on shares of CAVA Group (NYSE:CAVA - Free Report) in a research report report published on Monday morning, MarketBeat reports. The brokerage issued an equal weight rating and a $58.00 price objective on the stock.

Several other equities analysts have also issued reports on CAVA. Robert W. Baird raised their price objective on CAVA Group from $54.00 to $62.00 and gave the stock an outperform rating in a report on Thursday, February 15th. Argus upgraded CAVA Group from a hold rating to a buy rating and set a $70.00 price target on the stock in a research note on Wednesday, April 10th. JPMorgan Chase & Co. boosted their price objective on CAVA Group from $50.00 to $64.00 and gave the company an overweight rating in a research note on Tuesday, March 19th. William Blair reiterated an outperform rating on shares of CAVA Group in a research note on Tuesday, February 27th. Finally, Citigroup lifted their price objective on shares of CAVA Group from $49.00 to $60.00 and gave the company a neutral rating in a research report on Wednesday, February 28th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, CAVA Group has an average rating of Moderate Buy and an average target price of $59.67.

CAVA Group Stock Down 3.2 %

NYSE:CAVA traded down $2.03 during trading hours on Monday, hitting $61.72. The company had a trading volume of 2,167,406 shares, compared to its average volume of 2,256,271. CAVA Group has a 1 year low of $29.05 and a 1 year high of $71.60. The company has a 50-day moving average of $60.23 and a 200 day moving average of $45.51.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its quarterly earnings data on Monday, February 26th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. The company had revenue of $175.50 million during the quarter, compared to analyst estimates of $240.03 million. CAVA Group had a return on equity of 4.28% and a net margin of 1.82%. CAVA Group's revenue was up 52.6% compared to the same quarter last year. On average, research analysts expect that CAVA Group will post 0.24 earnings per share for the current year.

Insiders Place Their Bets

In other CAVA Group news, Director International S.C.A. Artal sold 2,000,000 shares of the firm's stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $66.25, for a total value of $132,500,000.00. Following the transaction, the director now directly owns 26,507,990 shares of the company's stock, valued at $1,756,154,337.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the business's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $57.20, for a total transaction of $85,800,000.00. Following the transaction, the insider now directly owns 4,457,634 shares of the company's stock, valued at $254,976,664.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director International S.C.A. Artal sold 2,000,000 shares of CAVA Group stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $66.25, for a total transaction of $132,500,000.00. Following the sale, the director now directly owns 26,507,990 shares in the company, valued at approximately $1,756,154,337.50. The disclosure for this sale can be found here. Insiders sold a total of 3,547,239 shares of company stock worth $221,525,951 over the last ninety days.

Institutional Trading of CAVA Group

Several large investors have recently modified their holdings of CAVA. Capital Research Global Investors lifted its position in shares of CAVA Group by 249.5% during the fourth quarter. Capital Research Global Investors now owns 4,369,281 shares of the company's stock worth $187,792,000 after purchasing an additional 3,119,281 shares during the last quarter. 1832 Asset Management L.P. lifted its stake in CAVA Group by 79.5% during the fourth quarter. 1832 Asset Management L.P. now owns 2,248,400 shares of the company's stock worth $96,636,000 after purchasing an additional 995,800 shares during the last quarter. Alliancebernstein L.P. bought a new stake in CAVA Group during the second quarter valued at $30,364,000. FMR LLC raised its holdings in shares of CAVA Group by 92.1% during the third quarter. FMR LLC now owns 1,138,113 shares of the company's stock worth $34,860,000 after purchasing an additional 545,799 shares during the period. Finally, Nuveen Asset Management LLC bought a new position in shares of CAVA Group in the 2nd quarter worth about $20,285,000. 73.15% of the stock is currently owned by institutional investors and hedge funds.

CAVA Group Company Profile

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.