CAVA Group (NYSE:CAVA) Price Target Lowered to $104.00 at Barclays

CAVA Group (NYSE:CAVA) had its price target reduced by Barclays from $127.00 to $104.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other brokerages have also recently issued reports on CAVA. UBS Group lowered their price objective on CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Sanford C. Bernstein initiated coverage on CAVA Group in a research note on Wednesday, November 20th. They issued a “market perform” rating and a $145.00 price objective on the stock. TD Cowen boosted their price objective on CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Piper Sandler boosted their price objective on CAVA Group from $100.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Finally, Loop Capital boosted their price objective on CAVA Group from $122.00 to $147.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, CAVA Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.40.

CAVA Group Price Performance

NYSE CAVA opened at $98.77 on Wednesday. The stock has a market capitalization of $11.32 billion, a price-to-earnings ratio of 214.71 and a beta of 3.25. CAVA Group has a one year low of $52.81 and a one year high of $172.43. The business’s fifty day moving average is $122.12 and its 200-day moving average is $125.97.

CAVA Group (NYSE:CAVA) last released its earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $227.40 million for the quarter, compared to the consensus estimate of $223.34 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. Research analysts expect that CAVA Group will post 0.5 EPS for the current fiscal year.

Insider Activity

In other news, CAO Adam David Phillips sold 615 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $76,499.85. Following the completion of the transaction, the chief accounting officer now owns 10,884 shares of the company’s stock, valued at approximately $1,353,860.76. The trade was a 5.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kenneth Robert Bertram sold 678 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $84,336.42. Following the transaction, the insider now directly owns 57,312 shares of the company’s stock, valued at $7,129,039.68. The trade was a 1.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 651,784 shares of company stock worth $96,522,922 over the last ninety days. Company insiders own 12.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CAVA. Jennison Associates LLC boosted its stake in CAVA Group by 36,658.7% in the fourth quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock worth $277,683,000 after buying an additional 2,455,035 shares in the last quarter. Vanguard Group Inc. boosted its stake in CAVA Group by 20.4% in the fourth quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company’s stock worth $903,709,000 after buying an additional 1,357,187 shares in the last quarter. Man Group plc boosted its stake in CAVA Group by 563.7% in the fourth quarter. Man Group plc now owns 935,075 shares of the company’s stock worth $105,476,000 after buying an additional 794,187 shares in the last quarter. Geode Capital Management LLC boosted its stake in CAVA Group by 121.0% in the third quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock worth $151,492,000 after buying an additional 669,599 shares in the last quarter. Finally, Barclays PLC boosted its stake in CAVA Group by 116.7% in the fourth quarter. Barclays PLC now owns 84,755 shares of the company’s stock worth $9,560,000 after buying an additional 591,866 shares in the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

About CAVA Group

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.