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

CAVA Group, Inc. (NYSE:CAVA) has been given an average rating of “Moderate Buy” by the sixteen brokerages that are currently covering the company, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $131.47.

Several analysts have recently commented on the stock. TD Securities lowered their price target on shares of CAVA Group from $150.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Loop Capital lowered their target price on CAVA Group from $147.00 to $100.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Barclays dropped their price target on CAVA Group from $127.00 to $104.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. JPMorgan Chase & Co. upgraded CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 price objective on the stock in a research report on Thursday, March 20th. Finally, Citigroup dropped their price objective on CAVA Group from $163.00 to $140.00 and set a “neutral” rating for the company in a research report on Friday, February 21st.

CAVA Group Stock Performance

Shares of CAVA stock opened at $90.21 on Wednesday. The stock has a fifty day moving average price of $109.83 and a 200 day moving average price of $122.65. The stock has a market cap of $10.43 billion, a PE ratio of 196.11 and a beta of 3.58. CAVA Group has a 1 year low of $58.22 and a 1 year high of $172.43.

CAVA Group (NYSE:CAVA) last released 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 firm had revenue of $227.40 million for the quarter, compared to analyst estimates of $223.34 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. As a group, equities research analysts predict that CAVA Group will post 0.5 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Tricia K. Tolivar sold 2,086 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 $248,609.48. Following the transaction, the chief financial officer now owns 235,592 shares in the company, valued at approximately $28,077,854.56. This trade represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Theodoros Xenohristos sold 851 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total transaction of $101,422.18. Following the sale, the insider now owns 358,995 shares of the company’s stock, valued at approximately $42,785,024.10. This represents a 0.24 % 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 valued at $3,514,101. Insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On CAVA Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in CAVA Group by 20.4% in the 4th quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company’s stock valued at $903,709,000 after purchasing an additional 1,357,187 shares in the last quarter. FMR LLC grew its stake in shares of CAVA Group by 14.1% in the fourth quarter. FMR LLC now owns 3,976,353 shares of the company’s stock valued at $448,533,000 after buying an additional 491,320 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of CAVA Group by 36,658.7% during the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock valued at $277,683,000 after buying an additional 2,455,035 shares during the period. Two Sigma Advisers LP lifted its position in CAVA Group by 17.0% during the 3rd quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock worth $273,820,000 after acquiring an additional 321,800 shares in the last quarter. Finally, Federated Hermes Inc. boosted its holdings in CAVA Group by 33.0% in the 4th quarter. Federated Hermes Inc. now owns 1,464,987 shares of the company’s stock worth $165,243,000 after acquiring an additional 363,814 shares during the period. Institutional investors and hedge funds own 73.15% of the company’s stock.

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.