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

CAVA Group, Inc. (NYSE:CAVA) has received an average rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $81.50.

Several equities analysts have issued reports on the company. TD Cowen lifted their price objective on CAVA Group from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Robert W. Baird lifted their price objective on CAVA Group from $90.00 to $92.00 and gave the company an “outperform” rating in a research report on Wednesday, May 29th. Argus upgraded CAVA Group from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Wednesday, April 10th. Citigroup lifted their price objective on CAVA Group from $60.00 to $81.00 and gave the company a “neutral” rating in a research report on Tuesday, May 21st. Finally, Morgan Stanley lifted their price objective on CAVA Group from $68.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, May 29th.

CAVA Group Price Performance

CAVA Group stock opened at $92.75 on Monday. The company has a market capitalization of $10.58 billion and a PE ratio of 226.23. CAVA Group has a one year low of $29.05 and a one year high of $97.64. The business has a 50 day simple moving average of $81.72 and a 200 day simple moving average of $63.58.

CAVA Group (NYSE:CAVA) last posted its earnings results on Tuesday, May 28th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.04 by $0.08. The business had revenue of $259.01 million during the quarter, compared to the consensus estimate of $246.02 million. CAVA Group had a return on equity of 5.18% and a net margin of 3.75%. The business’s revenue for the quarter was up 27.5% compared to the same quarter last year. Equities analysts anticipate that CAVA Group will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Kenneth Robert Bertram sold 5,250 shares of CAVA Group stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $95.28, for a total transaction of $500,220.00. Following the completion of the sale, the insider now directly owns 67,005 shares of the company’s stock, valued at $6,384,236.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other CAVA Group news, Director Theodoros Xenohristos sold 90,000 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $91.01, for a total value of $8,190,900.00. Following the completion of the transaction, the director now directly owns 424,846 shares of the company’s stock, valued at $38,665,234.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kenneth Robert Bertram sold 5,250 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $95.28, for a total value of $500,220.00. Following the completion of the transaction, the insider now directly owns 67,005 shares of the company’s stock, valued at $6,384,236.40. The disclosure for this sale can be found here. Insiders sold a total of 1,414,615 shares of company stock valued at $124,128,832 over the last three months.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its stake in CAVA Group by 190.0% in the third quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock valued at $27,000 after acquiring an additional 570 shares during the period. Swiss National Bank acquired a new position in CAVA Group in the fourth quarter valued at about $1,926,000. CHURCHILL MANAGEMENT Corp acquired a new position in CAVA Group in the first quarter valued at about $3,213,000. Stephens Inc. AR bought a new stake in shares of CAVA Group in the fourth quarter valued at about $1,014,000. Finally, Brandywine Global Investment Management LLC bought a new stake in shares of CAVA Group in the third quarter valued at about $1,937,000. 73.15% of the stock is owned by institutional investors and hedge funds.

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.