Raymond James Initiates Coverage on CAVA Group (NYSE:CAVA)

Raymond James initiated coverage on shares of CAVA Group (NYSE:CAVAFree Report) in a research note published on Friday, Marketbeat Ratings reports. The brokerage issued a market perform rating on the stock.

Other equities research analysts have also issued research reports about the stock. Loop Capital started coverage on shares of CAVA Group in a report on Thursday, September 14th. They issued a hold rating and a $40.00 price objective for the company. Robert W. Baird increased their target price on shares of CAVA Group from $50.00 to $58.00 and gave the stock an outperform rating in a research note on Wednesday, August 16th. Jefferies Financial Group lowered their target price on shares of CAVA Group from $54.00 to $48.00 in a research note on Tuesday, October 3rd. Piper Sandler increased their target price on shares of CAVA Group from $45.00 to $52.00 and gave the stock an overweight rating in a research note on Wednesday, August 16th. Finally, Citigroup increased their target price on shares of CAVA Group from $42.00 to $48.00 and gave the stock a neutral rating in a research note on Wednesday, August 16th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $47.00.

Read Our Latest Stock Analysis on CAVA

CAVA Group Stock Down 0.7 %

Shares of CAVA opened at $33.88 on Friday. CAVA Group has a 12-month low of $29.05 and a 12-month high of $58.10. The firm has a 50-day moving average price of $32.69.

CAVA Group (NYSE:CAVAGet Free Report) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.07. CAVA Group had a negative net margin of 1.12% and a negative return on equity of 13.72%. The firm had revenue of $175.55 million during the quarter, compared to analyst estimates of $171.49 million. The company’s quarterly revenue was up 26.1% compared to the same quarter last year. Equities research analysts anticipate that CAVA Group will post 0.1 EPS for the current year.

Institutional Trading of CAVA Group

Hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC acquired a new stake in shares of CAVA Group during the third quarter worth about $26,000. PNC Financial Services Group Inc. raised its holdings 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 in the last quarter. Glassman Wealth Services acquired a new stake in CAVA Group in the second quarter valued at approximately $28,000. Clearstead Advisors LLC acquired a new stake in CAVA Group in the third quarter valued at approximately $31,000. Finally, Victory Capital Management Inc. acquired a new stake in CAVA Group in the second quarter valued at approximately $40,000. Institutional investors and hedge funds own 61.83% of the company’s stock.

About CAVA Group

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CAVA Group, Inc owns and operates a chain of Mediterranean restaurants. The company offers salads, dips, spreads, toppings, and dressings. It sells its products through whole food markets and grocery stores. The company also provides online food ordering services. Cava Group, Inc was founded in 2006 and is based in Washington, District of Columbia.

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Analyst Recommendations for CAVA Group (NYSE:CAVA)

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