Jim Cramer Nailed These 11 Stock Picks

8. Cava Group Inc. (NYSE:CAVA)

Number of Hedge Fund Holders: 47

Cava Group Inc. (NYSE:CAVA), a fast-casual Mediterranean restaurant chain, was viewed by Cramer as a younger version of Chipotle when he recommended it last year. He praised its growth potential, even if valuation looked steep at the time.

“I like Cava right here, to be honest, I like Cava. I think it’s a terrific situation, it’s come down from a high, it’s got great fundamentals, long-term growth, feels a lot like Chipotle did when Chipotle started. You’re not going to find the stock to be ever really cheap, it’s got too good a bloodline to have that happen.”

Cava shares have jumped 24% since his comment, as the company continued to scale rapidly and impress investors with its unit economics.

The host of Mad Money remains bullish on Cava Group Inc (NYSE:CAVA) and considers the stock a long-term pick, according to his comments from April 2:

“I think it’s an excellent long-term, what we call a regional-to-national story. They had 367 locations at the end of last year, and their stores are doing very well. They’ve got a ton of room to expand from a regional to a national player — that’s right, go all over the country. For the record, Chipotle stock was never cheap either. I don’t see any signs of the concept losing momentum. When Cava reported its latest quarter, it delivered 21% same-store sales growth — for heaven’s sake! Now the stock’s down 55% from its high, you have my blessing to start buying Monday. And if it keeps falling, you know what you should do — buy, buy, buy!”