CAVA Group, Inc. (NYSE:CAVA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of CAVA Group, Inc. (NYSE:CAVA) have received a consensus recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $81.50.

A number of equities analysts recently weighed in on the stock. Barclays lifted their price objective on shares of CAVA Group from $58.00 to $72.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Argus upgraded shares of CAVA Group from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research report on Wednesday, April 10th. Stifel Nicolaus raised their target price on CAVA Group from $66.00 to $90.00 and gave the company a “buy” rating in a report on Friday, May 24th. Citigroup raised their target price on CAVA Group from $60.00 to $81.00 and gave the company a “neutral” rating in a report on Tuesday, May 21st. Finally, Morgan Stanley raised their target price on CAVA Group from $68.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, May 29th.

CAVA Group Price Performance

Shares of NYSE CAVA opened at $92.72 on Monday. The stock has a fifty day moving average price of $81.72 and a 200 day moving average price of $63.25. CAVA Group has a 1-year low of $29.05 and a 1-year high of $97.64. The company has a market cap of $10.57 billion and a PE ratio of 226.15.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Tuesday, May 28th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.08. CAVA Group had a net margin of 3.75% and a return on equity of 5.18%. The firm had revenue of $259.01 million for the quarter, compared to analyst estimates of $246.02 million. CAVA Group’s revenue for the quarter was up 27.5% on a year-over-year basis. Analysts anticipate that CAVA Group will post 0.34 earnings per share for the current fiscal year.

Insider Transactions at CAVA Group

In other news, Director Theodoros Xenohristos sold 90,000 shares of CAVA Group stock in a transaction on Monday, June 24th. The stock was sold at an average price of $91.01, for a total transaction of $8,190,900.00. Following the completion of the transaction, the director now owns 424,846 shares of the company’s stock, valued at approximately $38,665,234.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Theodoros Xenohristos sold 90,000 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $91.01, for a total value of $8,190,900.00. Following the completion of the transaction, the director now owns 424,846 shares of the company’s stock, valued at approximately $38,665,234.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brett Schulman sold 66,414 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $90.11, for a total transaction of $5,984,565.54. Following the completion of the transaction, the chief executive officer now directly owns 904,094 shares of the company’s stock, valued at approximately $81,467,910.34. The disclosure for this sale can be found here. Insiders sold 1,414,615 shares of company stock valued at $124,128,832 in the last 90 days.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Cetera Advisors LLC purchased a new stake in CAVA Group in the 1st quarter valued at about $301,000. Cetera Investment Advisers purchased a new stake in CAVA Group in the 1st quarter valued at about $2,455,000. National Wealth Management Group LLC purchased a new stake in CAVA Group in the 1st quarter valued at about $258,000. Jaffetilchin Investment Partners LLC grew its holdings in CAVA Group by 38.8% in the 1st quarter. Jaffetilchin Investment Partners LLC now owns 6,629 shares of the company’s stock valued at $464,000 after buying an additional 1,854 shares during the period. Finally, Comerica Bank grew its holdings in CAVA Group by 14.9% in the 1st quarter. Comerica Bank now owns 12,105 shares of the company’s stock valued at $848,000 after buying an additional 1,567 shares during the period. Institutional investors and hedge funds own 73.15% of the company’s stock.

About CAVA Group

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.