CAVA Group (NYSE:CAVA) Trading Up 12.6% – Still a Buy?

CAVA Group, Inc. (NYSE:CAVA) shares shot up 12.6% during trading on Friday . The company traded as high as $48.61 and last traded at $49.1040. 4,061,929 shares changed hands during trading, an increase of 3% from the average session volume of 3,945,734 shares. The stock had previously closed at $43.59.

Wall Street Analysts Forecast Growth

CAVA has been the topic of a number of analyst reports. Mizuho raised CAVA Group to a “hold” rating in a research note on Tuesday, October 28th. Robert W. Baird set a $95.00 price objective on CAVA Group in a report on Wednesday, August 13th. UBS Group reduced their target price on CAVA Group from $75.00 to $61.00 and set a “neutral” rating on the stock in a report on Monday, November 3rd. Weiss Ratings restated a “hold (c)” rating on shares of CAVA Group in a research report on Wednesday, October 8th. Finally, Morgan Stanley set a $86.00 price target on shares of CAVA Group in a research report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $81.75.

CAVA Group Stock Performance

The company has a 50-day moving average of $58.53 and a 200-day moving average of $73.27. The firm has a market capitalization of $5.76 billion, a price-to-earnings ratio of 42.69, a price-to-earnings-growth ratio of 2.57 and a beta of 2.47.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, November 4th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). The company had revenue of $292.24 million for the quarter, compared to analyst estimates of $292.88 million. CAVA Group had a return on equity of 8.88% and a net margin of 12.14%.The business’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter last year, the business posted $0.15 earnings per share. As a group, analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On CAVA Group

A number of large investors have recently added to or reduced their stakes in CAVA. Sunbelt Securities Inc. lifted its holdings in shares of CAVA Group by 400.0% in the third quarter. Sunbelt Securities Inc. now owns 2,000 shares of the company’s stock valued at $121,000 after purchasing an additional 1,600 shares in the last quarter. Advisory Services Network LLC acquired a new stake in CAVA Group in the 3rd quarter valued at approximately $51,000. Jacobs Levy Equity Management Inc. lifted its stake in CAVA Group by 1,610.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 115,918 shares of the company’s stock valued at $7,003,000 after acquiring an additional 109,142 shares in the last quarter. Kestra Private Wealth Services LLC acquired a new position in CAVA Group during the 3rd quarter worth approximately $370,000. Finally, Armistice Capital LLC bought a new position in shares of CAVA Group during the 3rd quarter worth approximately $602,000. Institutional investors 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.