CAVA Group (NYSE:CAVA) Now Covered by Analysts at Barclays

Investment analysts at Barclays assumed coverage on shares of CAVA Group (NYSE:CAVA) in a report released on Monday, Marketbeat reports. The brokerage set an “equal weight” rating and a $58.00 price target on the stock. Barclays‘s target price indicates a potential downside of 7.69% from the stock’s previous close.

Several other research firms have also commented on CAVA. TD Cowen reissued a “buy” rating and set a $63.00 price target on shares of CAVA Group in a research report on Wednesday, April 10th. Robert W. Baird increased their price target on shares of CAVA Group from $54.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Morgan Stanley increased their price objective on shares of CAVA Group from $62.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Citigroup increased their price objective on shares of CAVA Group from $49.00 to $60.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Finally, Piper Sandler increased their price objective on shares of CAVA Group from $46.00 to $63.00 and gave the company an “overweight” rating in a research report on Wednesday, February 28th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $60.42.

CAVA Group Trading Up 1.7 %

Shares of CAVA Group stock opened at $62.83 on Monday. The firm’s 50-day moving average is $60.49 and its two-hundred day moving average is $45.72. CAVA Group has a 1 year low of $29.05 and a 1 year high of $71.60.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Monday, February 26th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. The business had revenue of $175.50 million during the quarter, compared to analyst estimates of $240.03 million. CAVA Group had a net margin of 1.82% and a return on equity of 4.28%. The firm’s revenue was up 52.6% on a year-over-year basis. Equities analysts expect that CAVA Group will post 0.24 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $57.20, for a total transaction of $85,800,000.00. Following the sale, the insider now owns 4,457,634 shares of the company’s stock, valued at approximately $254,976,664.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $57.20, for a total transaction of $85,800,000.00. Following the sale, the insider now owns 4,457,634 shares of the company’s stock, valued at approximately $254,976,664.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Theodoros Xenohristos sold 47,239 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $68.29, for a total transaction of $3,225,951.31. Following the sale, the director now directly owns 526,521 shares in the company, valued at approximately $35,956,119.09. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,547,239 shares of company stock worth $221,525,951.

Institutional Investors Weigh In On CAVA Group

Institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC acquired a new stake in CAVA Group in the 3rd quarter valued at $26,000. Montag A & Associates Inc. acquired a new stake in CAVA Group in the 4th quarter valued at $26,000. PNC Financial Services Group Inc. grew its stake 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 acquired a new stake in CAVA Group in the 3rd quarter valued at $31,000. Finally, CWM LLC grew its stake in CAVA Group by 101.2% in the 1st quarter. CWM LLC now owns 505 shares of the company’s stock valued at $35,000 after acquiring an additional 254 shares during the period. Institutional investors and hedge funds own 73.15% of the company’s stock.

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.