Bank of America Begins Coverage on CAVA Group (NYSE:CAVA)

Bank of America started coverage on shares of CAVA Group (NYSE:CAVA) in a research report issued on Monday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $112.00 price target on the stock. Bank of America‘s price target points to a potential upside of 28.77% from the company’s current price.

Several other analysts have also recently commented on CAVA. Citigroup reduced their price target on CAVA Group from $163.00 to $140.00 and set a “neutral” rating for the company in a report on Friday, February 21st. UBS Group decreased their target price on shares of CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Loop Capital cut their price target on shares of CAVA Group from $147.00 to $100.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Piper Sandler raised shares of CAVA Group from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $142.00 to $115.00 in a report on Friday, February 28th. Finally, William Blair restated an “outperform” rating on shares of CAVA Group in a research report on Wednesday, February 26th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.25.

CAVA Group Stock Up 0.7 %

CAVA opened at $86.98 on Monday. CAVA Group has a 52 week low of $58.22 and a 52 week high of $172.43. The business’s 50 day moving average is $106.73 and its two-hundred day moving average is $121.42. The firm has a market cap of $10.05 billion, a price-to-earnings ratio of 189.09 and a beta of 3.58.

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

Insiders Place Their Bets

In other news, insider Kenneth Robert Bertram sold 678 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $84,336.42. Following the transaction, the insider now directly owns 57,312 shares in the company, valued at $7,129,039.68. This trade represents a 1.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Adam David Phillips sold 615 shares of the 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 $76,499.85. Following the sale, the chief accounting officer now directly owns 10,884 shares of the company’s stock, valued at approximately $1,353,860.76. This trade represents a 5.35 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,235 shares of company stock valued at $3,514,101. Insiders own 12.10% of the company’s stock.

Institutional Trading of CAVA Group

A number of institutional investors have recently added to or reduced their stakes in the business. Conway Capital Management Inc. acquired a new position in CAVA Group during the 3rd quarter worth approximately $5,524,000. Charles Schwab Investment Management Inc. raised its stake in shares of CAVA Group by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 527,868 shares of the company’s stock valued at $59,544,000 after purchasing an additional 11,776 shares during the period. Entropy Technologies LP acquired a new position in shares of CAVA Group during the fourth quarter worth $2,097,000. Empowered Funds LLC purchased a new position in shares of CAVA Group in the fourth quarter valued at $5,007,000. Finally, Legacy Capital Wealth Partners LLC grew its holdings in CAVA Group by 71.9% during the 4th quarter. Legacy Capital Wealth Partners LLC now owns 13,658 shares of the company’s stock valued at $1,541,000 after purchasing an additional 5,712 shares in the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Company Profile

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.