Analysts Set CAVA Group, Inc. (NYSE:CAVA) Target Price at $89.44

by · The Markets Daily

CAVA Group, Inc. (NYSE:CAVA – Get Free Report) has earned an average recommendation of “Moderate Buy” from the twenty-six research firms that are covering the stock, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $89.44.

A number of equities research analysts have issued reports on the stock. DA Davidson decreased their target price on shares of CAVA Group from $84.00 to $75.00 and set a “neutral” rating for the company in a research note on Thursday, August 13th. Argus set a $92.00 price target on CAVA Group in a report on Friday, May 22nd. Wall Street Zen upgraded CAVA Group from a “sell” rating to a “hold” rating in a research note on Sunday, May 24th. Freedom Capital raised CAVA Group to a “hold” rating in a research report on Wednesday, July 1st. Finally, Northcoast Research upgraded shares of CAVA Group from a “sell” rating to a “neutral” rating in a research note on Thursday, August 13th.

Check Out Our Latest Analysis on CAVA Group

CAVA Group Stock Performance

Shares of NYSE:CAVA opened at $60.63 on Wednesday. The firm has a 50 day simple moving average of $68.04 and a 200 day simple moving average of $77.24. The company has a market cap of $7.08 billion, a PE ratio of 110.24, a price-to-earnings-growth ratio of 4.76 and a beta of 1.74. CAVA Group has a 52 week low of $43.41 and a 52 week high of $98.79.

CAVA Group (NYSE:CAVA – Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. CAVA Group had a return on equity of 8.28% and a net margin of 4.82%.The business had revenue of $368.44 million for the quarter, compared to the consensus estimate of $360.09 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. CAVA Group’s revenue for the quarter was up 31.3% compared to the same quarter last year. On average, equities analysts predict that CAVA Group will post 0.54 earnings per share for the current year.

Insider Buying and Selling at CAVA Group

In related news, CFO Tricia Tolivar sold 4,969 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $89.43, for a total value of $444,377.67. Following the completion of the sale, the chief financial officer owned 234,931 shares in the company, valued at approximately $21,009,879.33. This trade represents a 2.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Karen Kochevar sold 10,000 shares of CAVA Group stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $90.00, for a total value of $900,000.00. Following the sale, the director directly owned 3,074 shares in the company, valued at $276,660. The trade was a 76.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 67,512 shares of company stock valued at $6,050,417 in the last three months. Company insiders own 6.70% of the company’s stock.

Institutional Trading of CAVA Group

Institutional investors have recently bought and sold shares of the stock. Los Angeles Capital Management LLC bought a new stake in shares of CAVA Group in the 4th quarter worth about $25,000. Ancora Advisors LLC bought a new stake in shares of CAVA Group during the second quarter worth $27,000. FNY Investment Advisers LLC acquired a new position in CAVA Group during the 2nd quarter valued at about $31,000. Philadelphia Investment Partners LLC acquired a new position in CAVA Group in the second quarter valued at approximately $33,000. Finally, TD Private Client Wealth LLC boosted its stake in CAVA Group by 118.2% in the fourth quarter. TD Private Client Wealth LLC now owns 600 shares of the company’s stock valued at $35,000 after acquiring an additional 325 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

About CAVA Group

(Get Free Report)

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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