CAVA Group, Inc. (NYSE:CAVA) Receives Consensus Rating of "Moderate Buy" from Brokerages

CAVA Group, Inc. (NYSE:CAVA - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the sixteen brokerages that are covering the firm, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $142.13.

Several brokerages have recently issued reports on CAVA. JPMorgan Chase & Co. raised their price target on shares of CAVA Group from $90.00 to $110.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 13th. Sanford C. Bernstein started coverage on CAVA Group in a research report on Wednesday, November 20th. They issued a "market perform" rating and a $145.00 target price for the company. Robert W. Baird increased their target price on shares of CAVA Group from $125.00 to $148.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th. Stifel Nicolaus increased their price target on shares of CAVA Group from $118.00 to $175.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Finally, Barclays reduced their price objective on shares of CAVA Group from $142.00 to $127.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 7th.

Insider Activity

In other CAVA Group news, CAO Adam David Phillips sold 615 shares of the 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 completion of the sale, the chief accounting officer now owns 10,884 shares of the company's stock, valued at $1,353,860.76. This represents a 5.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Tricia K. Tolivar sold 2,086 shares of the business's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $248,609.48. Following the completion of the transaction, the chief financial officer now owns 235,592 shares in the company, valued at $28,077,854.56. The trade was a 0.88 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 681,784 shares of company stock valued at $100,756,372. 12.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CAVA Group

Several hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its holdings in CAVA Group by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 39,154 shares of the company's stock valued at $3,632,000 after acquiring an additional 184 shares in the last quarter. AQR Capital Management LLC bought a new stake in shares of CAVA Group during the 2nd quarter valued at about $208,000. The Manufacturers Life Insurance Company increased its position in shares of CAVA Group by 12.0% during the second quarter. The Manufacturers Life Insurance Company now owns 21,007 shares of the company's stock valued at $1,948,000 after buying an additional 2,250 shares during the period. Algert Global LLC bought a new position in CAVA Group in the second quarter worth about $426,000. Finally, Creative Planning lifted its holdings in CAVA Group by 24.7% in the second quarter. Creative Planning now owns 5,046 shares of the company's stock worth $468,000 after buying an additional 1,000 shares during the period. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Stock Up 1.7 %

CAVA stock traded up $2.30 during midday trading on Tuesday, hitting $140.70. The company's stock had a trading volume of 1,246,713 shares, compared to its average volume of 1,994,132. The stock has a market cap of $16.12 billion, a price-to-earnings ratio of 305.87 and a beta of 3.25. The stock's 50-day moving average price is $124.93 and its 200 day moving average price is $122.54. CAVA Group has a 1 year low of $48.10 and a 1 year high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.04. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The company had revenue of $243.82 million for the quarter, compared to the consensus estimate of $233.05 million. During the same period in the previous year, the firm earned $0.06 EPS. The firm's quarterly revenue was up 38.9% on a year-over-year basis. As a group, equities analysts forecast that CAVA Group will post 0.5 earnings per share 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.