CAVA Group (NYSE:CAVA) Price Target Raised to $84.00

CAVA Group (NYSE:CAVA – Get Free Report) had its price target boosted by DA Davidson from $80.00 to $84.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. DA Davidson’s target price would suggest a potential upside of 5.83% from the stock’s previous close.

Several other brokerages also recently weighed in on CAVA. Barclays upped their price target on CAVA Group from $70.00 to $74.00 and gave the stock an “equal weight” rating in a report on Wednesday. Argus restated a “hold” rating on shares of CAVA Group in a report on Friday, February 27th. Citigroup upped their price target on CAVA Group from $75.00 to $92.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. BNP Paribas Exane assumed coverage on CAVA Group in a report on Monday, March 30th. They set a “neutral” rating and a $91.00 price target on the stock. Finally, Roth Mkm restated a “buy” rating and set a $106.00 price target on shares of CAVA Group in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, CAVA Group has an average rating of “Moderate Buy” and an average price target of $92.00.

Shares of CAVA stock traded down $1.16 on Thursday, hitting $79.38. The stock had a trading volume of 1,346,007 shares, compared to its average volume of 3,448,147. The firm has a market capitalization of $9.24 billion, a P/E ratio of 152.65, a P/E/G ratio of 5.49 and a beta of 1.90. CAVA Group has a 1 year low of $43.41 and a 1 year high of $98.79. The company’s 50 day moving average price is $84.95 and its 200-day moving average price is $69.46.

CAVA Group (NYSE:CAVA – Get Free Report) last issued its quarterly earnings results on Tuesday, May 19th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.03. CAVA Group had a return on equity of 8.04% and a net margin of 4.79%.The company had revenue of $438.27 million for the quarter, compared to the consensus estimate of $418.46 million. During the same quarter in the prior year, the business earned $0.22 EPS. CAVA Group’s revenue was up 32.1% on a year-over-year basis. On average, equities analysts forecast that CAVA Group will post 0.52 EPS for the current year.

In other news, insider Theodoros Xenohristos sold 9,044 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $79.75, for a total transaction of $721,259.00. Following the completion of the transaction, the insider directly owned 327,882 shares of the company’s stock, valued at approximately $26,148,589.50. This represents a 2.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 6.70% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in CAVA. Los Angeles Capital Management LLC acquired a new position in shares of CAVA Group during the 4th quarter worth about $25,000. Cornerstone Planning Group LLC boosted its position in shares of CAVA Group by 378.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock worth $27,000 after acquiring an additional 356 shares in the last quarter. Harbor Investment Advisory LLC boosted its position in shares of CAVA Group by 347.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock worth $30,000 after acquiring an additional 400 shares in the last quarter. CNB Bank boosted its position in shares of CAVA Group by 275.8% during the 3rd quarter. CNB Bank now owns 575 shares of the company’s stock worth $35,000 after acquiring an additional 422 shares in the last quarter. Finally, TD Private Client Wealth LLC boosted its position in shares of CAVA Group by 118.2% during the 4th quarter. TD Private Client Wealth LLC now owns 600 shares of the company’s stock worth $35,000 after acquiring an additional 325 shares in the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

Here are the key news stories impacting CAVA Group this week:

CAVA Group, Inc (NYSE: CAVA) is a leading fast-casual restaurant company specializing in Mediterranean-inspired cuisine. Operating under the CAVA brand, the company offers customizable bowls, pitas and salads built around a variety of proteins, grains, fresh vegetables and house-made spreads. With a focus on high-quality ingredients and made-to-order preparation, CAVA aims to deliver a casual yet elevated dining experience for dine-in, takeout and catering customers.
Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe’s Kitchen.
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Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe’s Kitchen.