Brokerages Set CAVA Group, Inc. (NYSE:CAVA) Price Target at $82.08

by · The Markets Daily

Shares of CAVA Group, Inc. (NYSE:CAVA – Get Free Report) have received an average rating of “Moderate Buy” from the twenty-six brokerages that are covering the company, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $82.0833.

Several analysts recently commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of CAVA Group in a research report on Wednesday, January 21st. Johnson Rice set a $72.00 price target on CAVA Group in a research note on Monday, January 5th. The Goldman Sachs Group restated a “neutral” rating and set a $68.00 price objective on shares of CAVA Group in a research note on Wednesday, November 5th. Benchmark raised shares of CAVA Group to a “strong-buy” rating in a report on Thursday, February 5th. Finally, Morgan Stanley lowered their target price on shares of CAVA Group from $86.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 20th.

Read Our Latest Stock Report on CAVA

Insiders Place Their Bets

In other CAVA Group news, CFO Tricia K. Tolivar sold 2,404 shares of the stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total transaction of $149,384.56. Following the completion of the transaction, the chief financial officer directly owned 231,934 shares of the company’s stock, valued at approximately $14,412,378.76. This trade represents a 1.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Theodoros Xenohristos sold 1,039 shares of CAVA Group stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total value of $64,563.46. Following the transaction, the insider owned 332,205 shares in the company, valued at approximately $20,643,218.70. This trade represents a 0.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 42,843 shares of company stock valued at $2,764,355. 12.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CAVA. Global Retirement Partners LLC acquired a new position in shares of CAVA Group during the 2nd quarter worth $463,000. Y Intercept Hong Kong Ltd lifted its stake in shares of CAVA Group by 271.7% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 23,659 shares of the company’s stock valued at $1,993,000 after purchasing an additional 17,294 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in CAVA Group by 1,846,775.0% in the second quarter. Hantz Financial Services Inc. now owns 73,875 shares of the company’s stock worth $6,222,000 after purchasing an additional 73,871 shares in the last quarter. Valeo Financial Advisors LLC acquired a new position in CAVA Group during the second quarter worth $57,824,000. Finally, Renaissance Capital LLC increased its position in CAVA Group by 42.7% during the third quarter. Renaissance Capital LLC now owns 105,730 shares of the company’s stock worth $6,387,000 after buying an additional 31,651 shares during the last quarter. Institutional investors own 73.15% of the company’s stock.

CAVA Group Trading Down 0.2%

Shares of NYSE:CAVA opened at $63.48 on Friday. The firm’s 50 day moving average is $62.87 and its two-hundred day moving average is $62.33. CAVA Group has a 52 week low of $43.41 and a 52 week high of $134.73. The firm has a market capitalization of $7.36 billion, a P/E ratio of 54.72, a PEG ratio of 4.67 and a beta of 2.41.

About CAVA Group

(Get Free Report)

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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