CAVA Group (NYSE:CAVA) Receives New Coverage from Analysts at UBS Group

UBS Group started coverage on shares of CAVA Group (NYSE:CAVA) in a report released on Friday morning, MarketBeat reports. The brokerage issued a neutral rating and a $135.00 price target on the stock.

Other research analysts also recently issued research reports about the stock. Argus upped their price objective on shares of CAVA Group from $104.00 to $128.00 and gave the stock a buy rating in a report on Wednesday, September 11th. Wedbush raised their price target on shares of CAVA Group from $100.00 to $120.00 and gave the company an outperform rating in a research report on Friday, August 23rd. Citigroup boosted their price objective on CAVA Group from $93.00 to $115.00 and gave the stock a neutral rating in a report on Friday, August 23rd. Loop Capital increased their price objective on CAVA Group from $80.00 to $122.00 and gave the stock a hold rating in a research note on Monday, August 26th. Finally, Barclays lifted their target price on CAVA Group from $72.00 to $95.00 and gave the company an equal weight rating in a research report on Friday, August 23rd. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $115.64.

CAVA Group Price Performance

Shares of CAVA Group stock opened at $123.80 on Friday. The business has a 50-day simple moving average of $105.19 and a 200 day simple moving average of $87.57. CAVA Group has a one year low of $29.05 and a one year high of $131.82. The firm has a market capitalization of $14.12 billion, a price-to-earnings ratio of 300.88 and a beta of 3.34.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Thursday, August 22nd. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.13 by $0.04. CAVA Group had a return on equity of 7.37% and a net margin of 5.04%. The firm had revenue of $233.50 million during the quarter, compared to the consensus estimate of $219.47 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. The company’s quarterly revenue was up 35.1% on a year-over-year basis. On average, sell-side analysts expect that CAVA Group will post 0.43 EPS for the current year.

Insider Activity

In related news, CFO Tricia K. Tolivar sold 5,000 shares of CAVA Group stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.64, for a total value of $628,200.00. Following the completion of the sale, the chief financial officer now owns 292,600 shares of the company’s stock, valued at approximately $36,762,264. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Tricia K. Tolivar sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.64, for a total transaction of $628,200.00. Following the sale, the chief financial officer now directly owns 292,600 shares in the company, valued at approximately $36,762,264. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Theodoros Xenohristos sold 98,490 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the completion of the transaction, the director now directly owns 424,846 shares of the company’s stock, valued at $53,432,881.42. The disclosure for this sale can be found here. Insiders have sold 304,994 shares of company stock valued at $38,310,084 in the last 90 days.

Institutional Trading of CAVA Group

A number of hedge funds and other institutional investors have recently made changes to their positions in CAVA. Vanguard Group Inc. grew its stake in CAVA Group by 215.7% during the first quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock valued at $346,330,000 after acquiring an additional 3,377,840 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of CAVA Group by 249.5% in the fourth quarter. Capital Research Global Investors now owns 4,369,281 shares of the company’s stock worth $187,792,000 after purchasing an additional 3,119,281 shares during the period. 1832 Asset Management L.P. raised its position in shares of CAVA Group by 79.5% in the fourth quarter. 1832 Asset Management L.P. now owns 2,248,400 shares of the company’s stock worth $96,636,000 after buying an additional 995,800 shares in the last quarter. Artemis Investment Management LLP bought a new stake in CAVA Group during the first quarter valued at $38,225,000. Finally, Lord Abbett & CO. LLC grew its position in CAVA Group by 55.9% during the first quarter. Lord Abbett & CO. LLC now owns 1,373,749 shares of the company’s stock worth $96,231,000 after buying an additional 492,667 shares in the last quarter. 73.15% of the stock is currently owned by 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.