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

Shares of CAVA Group, Inc. (NYSE:CAVA) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $60.42.

CAVA has been the subject of a number of research reports. Wedbush boosted their target price on shares of CAVA Group from $65.00 to $74.00 and gave the company an “outperform” rating in a research report on Tuesday, April 16th. TD Cowen reiterated a “buy” rating and set a $63.00 price objective on shares of CAVA Group in a research note on Wednesday, April 10th. Robert W. Baird upped their price target on CAVA Group from $54.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. JPMorgan Chase & Co. upped their price target on CAVA Group from $50.00 to $64.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Finally, Argus upgraded CAVA Group from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Wednesday, April 10th.

Insider Transactions at CAVA Group

In other news, Director International S.C.A. Artal sold 2,000,000 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $66.25, for a total transaction of $132,500,000.00. Following the sale, the director now owns 26,507,990 shares of the company’s stock, valued at $1,756,154,337.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other CAVA Group news, major shareholder Ronald M. Shaich sold 1,500,000 shares of CAVA Group stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $57.20, for a total transaction of $85,800,000.00. Following the transaction, the insider now owns 4,457,634 shares of the company’s stock, valued at $254,976,664.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director International S.C.A. Artal sold 2,000,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $66.25, for a total value of $132,500,000.00. Following the completion of the sale, the director now directly owns 26,507,990 shares of the company’s stock, valued at $1,756,154,337.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,547,239 shares of company stock valued at $221,525,951.

Institutional Trading of CAVA Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Headlands Technologies LLC acquired a new position in CAVA Group in the third quarter valued at $26,000. Montag A & Associates Inc. acquired a new position in CAVA Group in the 4th quarter valued at about $26,000. PNC Financial Services Group Inc. increased its position in CAVA Group by 190.0% in the 3rd 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. Clearstead Advisors LLC purchased a new stake in CAVA Group during the 3rd quarter valued at approximately $31,000. Finally, CWM LLC lifted its position in CAVA Group by 101.2% during the 1st quarter. CWM LLC now owns 505 shares of the company’s stock worth $35,000 after acquiring an additional 254 shares during the period. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Stock Up 1.7 %

NYSE CAVA opened at $75.39 on Friday. The firm’s fifty day simple moving average is $65.46 and its two-hundred day simple moving average is $49.89. CAVA Group has a 12-month low of $29.05 and a 12-month high of $77.14.

CAVA Group (NYSE:CAVA) last issued its earnings results on Monday, February 26th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. CAVA Group had a return on equity of 4.28% and a net margin of 1.82%. The company had revenue of $175.50 million during the quarter, compared to analyst estimates of $240.03 million. The business’s revenue for the quarter was up 52.6% compared to the same quarter last year. On average, analysts predict that CAVA Group will post 0.25 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.