Bank of America Begins Coverage on CAVA Group (NYSE:CAVA)

Bank of America initiated coverage on shares of CAVA Group (NYSE:CAVA - Free Report) in a report published on Monday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $112.00 price objective on the stock.

Several other equities analysts have also weighed in on the stock. Piper Sandler upgraded shares of CAVA Group from a "neutral" rating to an "overweight" rating and reduced their price target for the company from $142.00 to $115.00 in a research report on Friday, February 28th. JPMorgan Chase & Co. upgraded shares of CAVA Group from a "neutral" rating to an "overweight" rating and set a $110.00 target price on the stock in a research note on Thursday, March 20th. Citigroup decreased their price target on shares of CAVA Group from $163.00 to $140.00 and set a "neutral" rating for the company in a research note on Friday, February 21st. Barclays dropped their price objective on CAVA Group from $127.00 to $104.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 26th. Finally, William Blair reissued an "outperform" rating on shares of CAVA Group in a report on Wednesday, February 26th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, CAVA Group currently has a consensus rating of "Moderate Buy" and an average price target of $130.25.

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CAVA Group Price Performance

Shares of CAVA stock traded down $8.70 on Monday, hitting $75.48. The stock had a trading volume of 3,978,244 shares, compared to its average volume of 3,046,946. CAVA Group has a 12-month low of $58.22 and a 12-month high of $172.43. The stock has a market cap of $8.73 billion, a price-to-earnings ratio of 164.30 and a beta of 3.58. The business has a 50 day moving average of $105.27 and a 200 day moving average of $120.95.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The business had revenue of $227.40 million for the quarter, compared to analysts' expectations of $223.34 million. As a group, research analysts expect that CAVA Group will post 0.5 earnings per share for the current fiscal year.

Insider Activity at CAVA Group

In related news, CFO Tricia K. Tolivar sold 2,086 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $248,609.48. Following the transaction, the chief financial officer now owns 235,592 shares of the company's stock, valued at $28,077,854.56. This represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brett Schulman sold 20,564 shares of the firm's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total value of $2,450,817.52. Following the sale, the chief executive officer now owns 776,369 shares in the company, valued at $92,527,657.42. The trade was a 2.58 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,235 shares of company stock valued at $3,514,101. Company insiders own 12.10% of the company's stock.

Hedge Funds Weigh In On CAVA Group

A number of large investors have recently modified their holdings of CAVA. Arcadia Investment Management Corp MI bought a new position in CAVA Group during the fourth quarter valued at approximately $25,000. Allworth Financial LP boosted its stake in shares of CAVA Group by 369.2% in the 4th quarter. Allworth Financial LP now owns 244 shares of the company's stock valued at $30,000 after purchasing an additional 192 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of CAVA Group by 274.0% during the 4th quarter. Larson Financial Group LLC now owns 273 shares of the company's stock valued at $31,000 after purchasing an additional 200 shares during the last quarter. Versant Capital Management Inc purchased a new position in CAVA Group in the 1st quarter worth $31,000. Finally, Whittier Trust Co. lifted its stake in CAVA Group by 80.9% in the fourth quarter. Whittier Trust Co. now owns 284 shares of the company's stock worth $32,000 after purchasing an additional 127 shares during the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

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.