Definitely learn the structure of chords. There are only four types of triads – major, minor, diminished, and augmented – and they are put together in a rather logical manner. It's a good place to start. Thing is that there are many ways to voice out a single triad on the guitar, so the most effective way to get a handle on that is to learn the theory behind it and especially getting a handle on intervals. This website can get you thinking about intervals in an effective way: musictheory.net
The CAGED method gets a lot of praise, but I don't really see a need for it if you know how to find a third and a fifth from any given note.