TD Securities Cuts CAVA Group (NYSE:CAVA) Price Target to $130.00

CAVA Group (NYSE:CAVA) had its price objective dropped by analysts at TD Securities from $150.00 to $130.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ price objective indicates a potential upside of 44.41% from the company’s current price.

A number of other equities analysts have also weighed in on CAVA. TD Cowen boosted their price target on shares of CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Sanford C. Bernstein initiated coverage on shares of CAVA Group in a report on Wednesday, November 20th. They issued a “market perform” rating and a $145.00 target price on the stock. Stifel Nicolaus boosted their target price on shares of CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Loop Capital boosted their target price on shares of CAVA Group from $122.00 to $147.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Finally, Robert W. Baird boosted their target price on shares of CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $133.27.

CAVA Group Stock Down 9.0 %

CAVA stock opened at $90.02 on Wednesday. The stock has a market capitalization of $10.31 billion, a P/E ratio of 195.69 and a beta of 3.25. The firm has a 50-day simple moving average of $121.75 and a 200-day simple moving average of $125.78. CAVA Group has a 52 week low of $54.21 and a 52 week high of $172.43.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share 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 analyst estimates of $223.34 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. On average, analysts expect that CAVA Group will post 0.5 earnings per share for the current year.

Insider Buying and Selling

In other CAVA Group news, Director Ronald M. Shaich sold 622,549 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $149.40, for a total value of $93,008,820.60. Following the sale, the director now directly owns 6,307 shares of the company’s stock, valued at approximately $942,265.80. This represents a 99.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Adam David Phillips sold 615 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $76,499.85. Following the completion of the sale, the chief accounting officer now directly owns 10,884 shares in the company, valued at approximately $1,353,860.76. This represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 651,784 shares of company stock valued at $96,522,922 in the last ninety days. Company insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

Large investors have recently modified their holdings of the company. Conway Capital Management Inc. acquired a new position in shares of CAVA Group in the 3rd quarter valued at $5,524,000. Entropy Technologies LP acquired a new position in shares of CAVA Group in the 4th quarter valued at $2,097,000. Empowered Funds LLC acquired a new position in shares of CAVA Group in the 4th quarter valued at $5,007,000. SpiderRock Advisors LLC boosted its holdings in shares of CAVA Group by 8.9% in the 3rd quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock valued at $59,364,000 after buying an additional 39,319 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of CAVA Group by 262.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock valued at $63,918,000 after buying an additional 373,835 shares in the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Company Profile

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.