CAVA Group (NYSE:CAVA) Price Target Lowered to $125.00 at UBS Group

CAVA Group (NYSE:CAVA) had its target price cut by UBS Group from $160.00 to $125.00 in a report issued on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

CAVA has been the subject of a number of other research reports. Stifel Nicolaus increased their price target on shares of CAVA Group from $118.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. TD Cowen increased their target price on shares of CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Wedbush boosted their price target on CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Piper Sandler increased their price objective on CAVA Group from $100.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Finally, Sanford C. Bernstein began coverage on CAVA Group in a research note on Wednesday, November 20th. They issued a “market perform” rating and a $145.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, CAVA Group currently has a consensus rating of “Moderate Buy” and an average target price of $142.13.

CAVA Group Stock Performance

Shares of CAVA stock opened at $114.24 on Tuesday. The stock’s 50-day moving average is $131.30 and its two-hundred day moving average is $116.47. CAVA Group has a 1 year low of $41.56 and a 1 year high of $172.43. The firm has a market cap of $13.09 billion, a price-to-earnings ratio of 248.35 and a beta of 3.21.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.11 by $0.04. The company had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The firm’s revenue was up 38.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 earnings per share. As a group, research analysts predict that CAVA Group will post 0.5 EPS for the current year.

Insider Activity at CAVA Group

In other news, Director Ronald M. Shaich sold 622,549 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $149.40, for a total transaction of $93,008,820.60. Following the transaction, the director now directly owns 6,307 shares of the company’s stock, valued at approximately $942,265.80. This trade represents a 99.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Karen Kochevar sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $142.23, for a total transaction of $2,133,450.00. Following the completion of the sale, the director now directly owns 1,307 shares of the company’s stock, valued at approximately $185,894.61. This represents a 91.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 652,549 shares of company stock valued at $97,242,271 in the last quarter. Insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC lifted its stake in CAVA Group by 121.0% during the third quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock valued at $151,492,000 after buying an additional 669,599 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of CAVA Group by 102.5% during the second quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock valued at $82,770,000 after acquiring an additional 451,800 shares during the period. Charles Schwab Investment Management Inc. lifted its position 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 acquiring an additional 373,835 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in shares of CAVA Group by 17.0% in the third quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock valued at $273,820,000 after purchasing an additional 321,800 shares in the last quarter. Finally, State Street Corp boosted its position in shares of CAVA Group by 33.3% in the third quarter. State Street Corp now owns 1,267,333 shares of the company’s stock worth $156,959,000 after buying an additional 316,514 shares during the period. Institutional investors and hedge funds own 73.15% of the company’s stock.

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.