CAVA Group, Inc. (NYSE:CAVA) Receives $131.47 Average PT from Brokerages

Shares of CAVA Group, Inc. (NYSE:CAVA) have earned a consensus recommendation of “Moderate Buy” from the sixteen analysts that are currently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $131.47.

Several equities research analysts have weighed in on the company. Barclays dropped their target price on CAVA Group from $127.00 to $104.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Citigroup dropped their price objective on shares of CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Wedbush reissued an “outperform” rating and set a $150.00 target price on shares of CAVA Group in a research note on Wednesday, February 26th. William Blair restated an “outperform” rating on shares of CAVA Group in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. raised CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 price target on the stock in a report on Thursday, March 20th.

Insider Activity

In related news, CEO Brett Schulman sold 2,936 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $124.39, for a total value of $365,209.04. Following the completion of the transaction, the chief executive officer now owns 773,433 shares of the company’s stock, valued at approximately $96,207,330.87. This trade represents a 0.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Adam David Phillips sold 615 shares of the business’s stock in a transaction on Monday, January 27th. The shares were 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 in the company, valued at approximately $1,353,860.76. This trade represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,235 shares of company stock worth $3,514,101. Insiders own 12.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CAVA. Utah Retirement Systems grew its position in CAVA Group by 2.5% during the fourth quarter. Utah Retirement Systems now owns 4,100 shares of the company’s stock valued at $462,000 after purchasing an additional 100 shares in the last quarter. Howard Financial Services LTD. grew its holdings in shares of CAVA Group by 1.8% during the 4th quarter. Howard Financial Services LTD. now owns 6,194 shares of the company’s stock valued at $699,000 after acquiring an additional 109 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of CAVA Group by 37.0% in the fourth quarter. GAMMA Investing LLC now owns 422 shares of the company’s stock worth $48,000 after acquiring an additional 114 shares during the last quarter. Whittier Trust Co. raised its holdings in shares of CAVA Group by 80.9% during the fourth quarter. Whittier Trust Co. now owns 284 shares of the company’s stock worth $32,000 after acquiring an additional 127 shares in the last quarter. Finally, Mainstream Capital Management LLC boosted its position in CAVA Group by 0.7% during the fourth quarter. Mainstream Capital Management LLC now owns 17,758 shares of the company’s stock valued at $2,003,000 after purchasing an additional 132 shares during the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Stock Down 3.0 %

Shares of NYSE:CAVA opened at $85.75 on Wednesday. The company has a market cap of $9.91 billion, a PE ratio of 186.41 and a beta of 3.58. CAVA Group has a fifty-two week low of $58.22 and a fifty-two week high of $172.43. The firm has a 50-day simple moving average of $108.04 and a 200 day simple moving average of $121.95.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates 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%. As a group, research analysts forecast that CAVA Group will post 0.5 EPS for the current fiscal year.

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.