KeyCorp Issues Positive Forecast for CAVA Group (NYSE:CAVA) Stock Price

CAVA Group (NYSE:CAVA) had its price target boosted by stock analysts at KeyCorp from $95.00 to $105.00 in a note issued to investors on Monday, MarketBeat reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price objective points to a potential upside of 10.76% from the company’s current price.

CAVA has been the subject of several other reports. Wolfe Research began coverage on shares of CAVA Group in a report on Monday, March 9th. They issued an “outperform” rating and a $93.00 target price for the company. DA Davidson initiated coverage on shares of CAVA Group in a research note on Friday, March 6th. They issued a “neutral” rating and a $80.00 price target for the company. Mizuho lifted their price target on shares of CAVA Group from $72.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, April 2nd. Truist Financial lifted their price target on shares of CAVA Group from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Finally, The Goldman Sachs Group lifted their price target on shares of CAVA Group from $75.00 to $86.00 and gave the stock a “neutral” rating in a research note on Monday, April 13th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $87.00.

CAVA Group Stock Performance

Shares of CAVA Group stock opened at $94.80 on Monday. The stock has a market capitalization of $11.03 billion, a PE ratio of 175.55, a price-to-earnings-growth ratio of 8.04 and a beta of 2.03. CAVA Group has a 52-week low of $43.41 and a 52-week high of $101.50. The company has a 50-day simple moving average of $79.34 and a two-hundred day simple moving average of $65.99.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, February 24th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. The business had revenue of $274.99 million during the quarter, compared to analysts’ expectations of $268.04 million. CAVA Group had a net margin of 5.40% and a return on equity of 8.43%. The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.05 earnings per share. As a group, equities research analysts forecast that CAVA Group will post 0.5 EPS for the current fiscal year.

Insider Transactions at CAVA Group

In other news, insider Kelly Costanza sold 1,707 shares of CAVA Group stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total value of $106,072.98. Following the completion of the sale, the insider directly owned 119,139 shares in the company, valued at $7,403,297.46. The trade was a 1.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Adam David Phillips sold 774 shares of the business’s stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $48,096.36. Following the sale, the chief accounting officer owned 10,435 shares of the company’s stock, valued at $648,430.90. This trade represents a 6.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 39,055 shares of company stock valued at $2,572,303. Company insiders own 12.10% of the company’s stock.

Institutional Trading of CAVA Group

Large investors have recently added to or reduced their stakes in the business. Cornerstone Planning Group LLC grew its position in CAVA Group by 378.7% during the third quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock valued at $27,000 after buying an additional 356 shares during the period. Los Angeles Capital Management LLC bought a new stake in CAVA Group during the fourth quarter valued at approximately $25,000. Toth Financial Advisory Corp grew its position in CAVA Group by 656.7% during the third quarter. Toth Financial Advisory Corp now owns 507 shares of the company’s stock valued at $31,000 after buying an additional 440 shares during the period. Harbor Investment Advisory LLC grew its position in CAVA Group by 347.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock valued at $30,000 after buying an additional 400 shares during the period. Finally, Western Pacific Wealth Management LP bought a new stake in CAVA Group during the third quarter valued at approximately $33,000. 73.15% of the stock is currently owned by institutional investors.

CAVA Group Company Profile

CAVA Group, Inc (NYSE: CAVA) is a leading fast-casual restaurant company specializing in Mediterranean-inspired cuisine. Operating under the CAVA brand, the company offers customizable bowls, pitas and salads built around a variety of proteins, grains, fresh vegetables and house-made spreads. With a focus on high-quality ingredients and made-to-order preparation, CAVA aims to deliver a casual yet elevated dining experience for dine-in, takeout and catering customers.

Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe’s Kitchen.