Key Points
- Insider Douglas Thompson purchased 6,500 CAVA shares at an average price of $66.52, investing $432,380 and increasing his direct ownership by 50.5% to 19,371 shares.
- CAVA’s latest quarterly results exceeded expectations, with EPS of $0.19 versus $0.18 expected and revenue of $368.44 million, up 31.3% year over year.
- Analysts maintain a “Moderate Buy” consensus with an average price target of $89.44, while institutional investors and hedge funds own 73.15% of the company.
CAVA Group, Inc. (NYSE:CAVA - Get Free Report) insider Douglas Thompson purchased 6,500 shares of the company's stock in a transaction that occurred on Monday, August 31st. The shares were purchased at an average price of $66.52 per share, for a total transaction of $432,380.00. Following the purchase, the insider directly owned 19,371 shares in the company, valued at $1,288,558.92. The trade was a 50.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
CAVA Group Trading Up 0.9%
Shares of NYSE CAVA opened at $61.64 on Thursday. CAVA Group, Inc. has a twelve month low of $43.41 and a twelve month high of $98.79. The stock has a 50 day moving average of $68.94 and a two-hundred day moving average of $77.28. The stock has a market cap of $7.20 billion, a P/E ratio of 112.08, a P/E/G ratio of 4.79 and a beta of 1.74.
CAVA Group (NYSE:CAVA - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.01. The business had revenue of $368.44 million for the quarter, compared to analyst estimates of $360.09 million. CAVA Group had a net margin of 4.82% and a return on equity of 8.28%. The company's revenue for the quarter was up 31.3% compared to the same quarter last year. During the same period last year, the firm posted $0.16 earnings per share. As a group, research analysts predict that CAVA Group, Inc. will post 0.54 earnings per share for the current year.
Analysts Set New Price Targets
Several brokerages have issued reports on CAVA. Piper Sandler raised their price objective on shares of CAVA Group from $85.00 to $92.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 20th. Barclays upped their target price on shares of CAVA Group from $70.00 to $74.00 and gave the company an "equal weight" rating in a report on Wednesday, May 20th. Weiss Ratings downgraded shares of CAVA Group from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, July 24th. BMO Capital Markets set a $100.00 price target on CAVA Group in a report on Wednesday, May 20th. Finally, DA Davidson dropped their price target on CAVA Group from $84.00 to $75.00 and set a "neutral" rating on the stock in a research report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $89.44.
Read Our Latest Research Report on CAVA
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new position in CAVA Group during the fourth quarter worth about $25,000. Ancora Advisors LLC purchased a new stake in CAVA Group in the 2nd quarter valued at approximately $27,000. FNY Investment Advisers LLC purchased a new stake in CAVA Group in the 2nd quarter valued at approximately $31,000. Philadelphia Investment Partners LLC acquired a new position in CAVA Group during the 2nd quarter worth approximately $33,000. Finally, TD Private Client Wealth LLC increased its position in 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 purchasing an additional 325 shares during the period. 73.15% of the stock is currently owned by institutional investors and hedge funds.
CAVA Group Company Profile
(
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.
Further Reading
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