Telsey Advisory Group Issues Positive Forecast for CAVA Group (NYSE:CAVA) Stock Price

by · The Cerbat Gem

CAVA Group (NYSE:CAVA – Get Free Report) had its price objective upped by research analysts at Telsey Advisory Group from $88.00 to $92.00 in a research note issued on Thursday. The firm currently has an “outperform” rating on the stock. Telsey Advisory Group’s price target would indicate a potential upside of 27.36% from the company’s previous close.

Several other research firms also recently commented on CAVA. The Goldman Sachs Group lifted their price objective on shares of CAVA Group from $75.00 to $86.00 and gave the stock a “neutral” rating in a research note on Monday, April 13th. Citigroup raised their target price on CAVA Group from $75.00 to $92.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Royal Bank Of Canada lifted their price target on CAVA Group from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Wall Street Zen raised CAVA Group from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. Finally, Guggenheim assumed coverage on CAVA Group in a research note on Thursday, March 26th. They issued a “buy” rating and a $100.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.22.

Get Our Latest Stock Report on CAVA

CAVA Group Stock Down 6.4%

Shares of CAVA Group stock opened at $72.24 on Thursday. The firm has a market capitalization of $8.41 billion, a P/E ratio of 133.78, a PEG ratio of 5.47 and a beta of 1.90. The company has a 50 day moving average price of $85.05 and a 200 day moving average price of $68.84. CAVA Group has a 52 week low of $43.41 and a 52 week high of $100.94.

CAVA Group (NYSE:CAVA – Get Free Report) last released its earnings results on Tuesday, February 24th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. CAVA Group had a net margin of 5.40% and a return on equity of 8.43%. The company had revenue of $274.99 million during the quarter, compared to analysts’ expectations of $268.04 million. During the same period last year, the business earned $0.05 EPS. CAVA Group’s revenue for the quarter was up 20.9% on a year-over-year basis. As a group, research analysts anticipate that CAVA Group will post 0.52 earnings per share for the current fiscal year.

Insider Transactions at CAVA Group

In other CAVA Group news, insider Theodoros Xenohristos sold 9,044 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $79.75, for a total value of $721,259.00. Following the sale, the insider directly owned 327,882 shares of the company’s stock, valued at approximately $26,148,589.50. This represents a 2.68% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 6.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CAVA Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Los Angeles Capital Management LLC acquired a new stake in CAVA Group during the fourth quarter worth about $25,000. Cornerstone Planning Group LLC lifted its holdings in CAVA Group by 378.7% in the third quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock valued at $27,000 after acquiring an additional 356 shares during the period. Harbor Investment Advisory LLC lifted its holdings in CAVA Group by 347.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock valued at $30,000 after acquiring an additional 400 shares during the period. CNB Bank boosted its position in CAVA Group by 275.8% in the 3rd quarter. CNB Bank now owns 575 shares of the company’s stock worth $35,000 after purchasing an additional 422 shares in the last quarter. Finally, TD Private Client Wealth LLC boosted its position in 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 purchasing an additional 325 shares in the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

CAVA Group Company Profile

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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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