CAVA Group (NYSE:CAVA) Given New $104.00 Price Target at Barclays

CAVA Group (NYSE:CAVA) had its price objective cut by research analysts at Barclays from $127.00 to $104.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target indicates a potential upside of 15.53% from the stock’s current price.

A number of other analysts also recently commented on CAVA. UBS Group dropped their target price on shares of CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Morgan Stanley boosted their price target on shares of CAVA Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. William Blair reaffirmed an “outperform” rating on shares of CAVA Group in a research report on Wednesday, November 13th. Piper Sandler boosted their price objective on shares of CAVA Group from $100.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. Finally, Sanford C. Bernstein initiated coverage on shares of CAVA Group in a research report on Wednesday, November 20th. They set a “market perform” rating and a $145.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.27.

CAVA Group Stock Down 9.0 %

Shares of NYSE:CAVA opened at $90.02 on Wednesday. The company has a market cap of $10.31 billion, a PE ratio of 195.69 and a beta of 3.25. The company’s 50-day moving average price is $121.75 and its 200 day moving average price is $125.78. CAVA Group has a fifty-two week low of $54.21 and a fifty-two week high of $172.43.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $227.40 million during the quarter, compared to the consensus estimate of $223.34 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. As a group, equities analysts anticipate that CAVA Group will post 0.5 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Adam David Phillips sold 615 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $1,353,860.76. This represents a 5.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brett Schulman sold 20,564 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total transaction of $2,450,817.52. Following the sale, the chief executive officer now directly owns 776,369 shares of the company’s stock, valued at approximately $92,527,657.42. This represents a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 651,784 shares of company stock valued at $96,522,922 over the last ninety days. Corporate insiders own 12.10% of the company’s stock.

Institutional Trading of CAVA Group

Large investors have recently modified their holdings of the company. Creative Planning raised its stake in CAVA Group by 22.6% during the 3rd quarter. Creative Planning now owns 6,185 shares of the company’s stock valued at $766,000 after purchasing an additional 1,139 shares during the last quarter. Financial Advocates Investment Management raised its stake in CAVA Group by 12.6% during the 3rd quarter. Financial Advocates Investment Management now owns 3,125 shares of the company’s stock valued at $387,000 after purchasing an additional 349 shares during the last quarter. Gladstone Institutional Advisory LLC raised its stake in CAVA Group by 175.9% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 6,056 shares of the company’s stock valued at $750,000 after purchasing an additional 3,861 shares during the last quarter. Farther Finance Advisors LLC raised its stake in CAVA Group by 6.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,916 shares of the company’s stock valued at $237,000 after purchasing an additional 113 shares during the last quarter. Finally, Lansing Street Advisors acquired a new position in CAVA Group during the 3rd quarter valued at $367,000. 73.15% of the stock is owned by institutional investors.

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.