KeyCorp Issues Positive Forecast for CAVA Group (NYSE:CAVA) Stock Price
by Tristan Rich · The Markets DailyCAVA Group (NYSE:CAVA – Get Free Report) had its price objective increased by stock analysts at KeyCorp from $95.00 to $105.00 in a report issued on Monday, Marketbeat Ratings reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price target points to a potential upside of 10.76% from the stock’s current price.
CAVA has been the topic of a number of other research reports. Morgan Stanley lifted their target price on shares of CAVA Group from $80.00 to $83.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 25th. Mizuho lifted their target price on shares of CAVA Group from $72.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, April 2nd. Guggenheim began coverage on shares of CAVA Group in a research note on Thursday, March 26th. They set a “buy” rating and a $100.00 target price on the stock. Citigroup lifted their target price on shares of CAVA Group from $74.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Finally, Telsey Advisory Group lifted their target price on shares of CAVA Group from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $87.00.
Get Our Latest Analysis on CAVA Group
CAVA Group Stock Up 0.0%
Shares of CAVA Group stock opened at $94.80 on Monday. The company’s fifty day simple moving average is $79.34 and its two-hundred day simple moving average is $65.99. The firm has a market cap of $11.03 billion, a PE ratio of 175.55, a price-to-earnings-growth ratio of 8.04 and a beta of 2.03. CAVA Group has a 12-month low of $43.41 and a 12-month high of $101.50.
CAVA Group (NYSE:CAVA – Get Free Report) last announced its earnings results on Tuesday, February 24th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The firm had revenue of $274.99 million for the quarter, compared to analyst estimates of $268.04 million. CAVA Group had a net margin of 5.40% and a return on equity of 8.43%. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.05 EPS. As a group, sell-side analysts expect that CAVA Group will post 0.5 earnings per share for the current fiscal year.
Insider Activity at CAVA Group
In related news, CEO Brett Schulman sold 21,650 shares of CAVA Group stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $67.41, for a total transaction of $1,459,426.50. Following the completion of the transaction, the chief executive officer directly owned 807,325 shares of the company’s stock, valued at $54,421,778.25. This trade represents a 2.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Kelly Costanza sold 1,707 shares of CAVA Group stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $106,072.98. Following the transaction, the insider directly owned 119,139 shares of the company’s stock, valued at approximately $7,403,297.46. This trade represents a 1.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 39,055 shares of company stock worth $2,572,303 over the last 90 days. 12.10% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the business. Cornerstone Planning Group LLC lifted 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 acquiring an additional 356 shares during the period. Los Angeles Capital Management LLC purchased a new position in CAVA Group in the fourth quarter worth about $25,000. Toth Financial Advisory Corp raised its holdings in CAVA Group by 656.7% in the third quarter. Toth Financial Advisory Corp now owns 507 shares of the company’s stock worth $31,000 after buying an additional 440 shares during the last quarter. Harbor Investment Advisory LLC raised 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 worth $30,000 after buying an additional 400 shares during the last quarter. Finally, Western Pacific Wealth Management LP purchased a new position in CAVA Group in the third quarter worth about $33,000. 73.15% of the stock is owned by hedge funds and other 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.