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

Shares of CAVA Group, Inc. (NYSE:CAVA) have been assigned an average rating of “Moderate Buy” from the nineteen analysts that are presently covering the firm, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $99.4706.

A number of analysts have commented on CAVA shares. Wall Street Zen cut shares of CAVA Group from a “hold” rating to a “sell” rating in a research note on Friday, June 27th. Bank of America cut their target price on shares of CAVA Group from $121.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, August 13th. JPMorgan Chase & Co. cut their target price on shares of CAVA Group from $115.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, June 25th. Stifel Nicolaus cut their target price on shares of CAVA Group from $175.00 to $125.00 and set a “buy” rating for the company in a research note on Wednesday, June 18th. Finally, UBS Group cut their price objective on CAVA Group from $96.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, August 13th.

CAVA Group Price Performance

CAVA Group stock opened at $68.06 on Friday. The firm has a 50-day moving average of $81.52 and a 200-day moving average of $87.46. CAVA Group has a one year low of $65.03 and a one year high of $172.43. The company has a market cap of $7.89 billion, a price-to-earnings ratio of 57.20, a P/E/G ratio of 3.35 and a beta of 2.65.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, August 12th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.13 by $0.03. The firm had revenue of $280.62 million during the quarter, compared to analysts’ expectations of $285.65 million. CAVA Group had a return on equity of 9.83% and a net margin of 12.98%.The business’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.17 earnings per share. As a group, sell-side analysts expect that CAVA Group will post 0.5 earnings per share for the current year.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, CAO Adam David Phillips sold 739 shares of the firm’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $55,543.24. Following the completion of the sale, the chief accounting officer owned 11,063 shares of the company’s stock, valued at $831,495.08. This trade represents a 6.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brett Schulman sold 31,856 shares of CAVA Group stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $2,394,296.96. Following the sale, the chief executive officer directly owned 792,318 shares of the company’s stock, valued at $59,550,620.88. The trade was a 3.87% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,360 shares of company stock worth $3,634,738. 6.80% of the stock is currently owned by corporate insiders.

Institutional Trading of CAVA Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC lifted its position in CAVA Group by 17,386.7% during the first quarter. GAMMA Investing LLC now owns 73,794 shares of the company’s stock worth $6,377,000 after acquiring an additional 73,372 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in CAVA Group by 123.4% during the first quarter. PNC Financial Services Group Inc. now owns 5,458 shares of the company’s stock worth $472,000 after acquiring an additional 3,015 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in CAVA Group by 5.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 554,934 shares of the company’s stock worth $47,952,000 after purchasing an additional 27,066 shares during the last quarter. SG Americas Securities LLC lifted its holdings in CAVA Group by 768.4% during the 1st quarter. SG Americas Securities LLC now owns 220,816 shares of the company’s stock worth $19,081,000 after purchasing an additional 195,389 shares during the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new stake in CAVA Group during the 1st quarter worth approximately $257,000. Institutional investors 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.