CAVA Group (NYSE:CAVA) Earns Buy Rating from Analysts at Bank of America

by · The Cerbat Gem

Bank of America initiated coverage on shares of CAVA Group (NYSE:CAVA – Free Report) in a report published on Monday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $112.00 target price on the stock.

CAVA has been the topic of several other reports. Piper Sandler raised shares of CAVA Group from a “neutral” rating to an “overweight” rating and cut their price target for the company from $142.00 to $115.00 in a report on Friday, February 28th. Wedbush reaffirmed an “outperform” rating and set a $150.00 price target on shares of CAVA Group in a research report on Wednesday, February 26th. TD Securities decreased their price target on CAVA Group from $150.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Barclays cut their price objective on CAVA Group from $127.00 to $104.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Finally, William Blair reiterated an “outperform” rating on shares of CAVA Group in a research report on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $130.25.

View Our Latest Stock Analysis on CAVA Group

CAVA Group Price Performance

Shares of CAVA Group stock opened at $90.41 on Monday. CAVA Group has a 1-year low of $58.22 and a 1-year high of $172.43. The company has a market capitalization of $10.45 billion, a PE ratio of 196.54 and a beta of 3.58. The business has a 50-day moving average of $106.07 and a 200-day moving average of $121.20.

CAVA Group (NYSE:CAVA – Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The business had revenue of $227.40 million for the quarter, compared to analyst estimates of $223.34 million. On average, equities analysts expect that CAVA Group will post 0.5 earnings per share for the current fiscal year.

Insider Transactions at CAVA Group

In other news, insider Kenneth Robert Bertram sold 678 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $84,336.42. Following the completion of the transaction, the insider now directly owns 57,312 shares in the company, valued at approximately $7,129,039.68. The trade was a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Brett Schulman sold 20,564 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total value of $2,450,817.52. Following the completion of the sale, the chief executive officer now owns 776,369 shares in the company, valued at approximately $92,527,657.42. This represents a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,235 shares of company stock worth $3,514,101. Insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

Several institutional investors have recently bought and sold shares of the stock. Arcadia Investment Management Corp MI bought a new stake in shares of CAVA Group during the 4th quarter worth about $25,000. Allworth Financial LP raised its holdings in CAVA Group by 369.2% during the fourth quarter. Allworth Financial LP now owns 244 shares of the company’s stock worth $30,000 after purchasing an additional 192 shares in the last quarter. Larson Financial Group LLC lifted its position in CAVA Group by 274.0% in the fourth quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock worth $31,000 after purchasing an additional 200 shares during the period. Whittier Trust Co. boosted its stake in CAVA Group by 80.9% during the 4th quarter. Whittier Trust Co. now owns 284 shares of the company’s stock valued at $32,000 after purchasing an additional 127 shares in the last quarter. Finally, Signaturefd LLC increased its position in shares of CAVA Group by 884.4% during the 4th quarter. Signaturefd LLC now owns 315 shares of the company’s stock valued at $36,000 after purchasing an additional 283 shares during the period. Institutional investors and hedge funds own 73.15% of the company’s stock.

CAVA Group Company Profile

(Get Free Report)

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.

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