As a fast-casual concept, one that focuses on Mediterranean-inspired food, investors might view Cava Group (NYSE: CAVA) as the next Chipotle Mexican Grill. Shares of Cava have soared 66% in the past 12 months (as of July 18), crushing the 25% total return of the S 500.

Growth-minded investors are probably eyeing Cava right now, even though it has cooled down and dropped 17% off its peak. But is it too late to buy this restaurant stock?

In the grand scheme of the restaurant sector, Cava is still tiny. As of April 21, it had 323 stores across the U.S. However, the business added 72 net new locations in fiscal 2023, and management plans to open 52 this year. The growth potential is certainly exciting.

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Source Fool.com