Citigroup Issues Pessimistic Forecast for CAVA Group (NYSE:CAVA) Stock Price

CAVA Group (NYSE:CAVA) had its price objective lowered by Citigroup from $163.00 to $140.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s target price suggests a potential upside of 29.57% from the stock’s previous close.

A number of other equities analysts have also commented on CAVA. TD Cowen raised their price objective on shares of CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Wedbush raised their price objective on shares of 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 lifted their target price 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. William Blair reiterated an “outperform” rating on shares of CAVA Group in a research report on Wednesday, November 13th. Finally, Barclays dropped their target price on shares of CAVA Group from $142.00 to $127.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $140.60.

CAVA Group Trading Down 8.9 %

CAVA stock opened at $108.05 on Friday. The firm has a 50 day moving average of $123.05 and a 200-day moving average of $125.46. CAVA Group has a 12 month low of $48.55 and a 12 month high of $172.43. The firm has a market capitalization of $12.38 billion, a P/E ratio of 234.89 and a beta of 3.25.

Insiders Place Their Bets

In related news, Director Ronald M. Shaich sold 622,549 shares of CAVA Group stock in a transaction 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 transaction, the director now directly owns 6,307 shares of the company’s stock, valued at $942,265.80. The trade was a 99.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kenneth Robert Bertram sold 678 shares of CAVA Group stock in a transaction on Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $84,336.42. Following the completion of the transaction, the insider now directly owns 57,312 shares in the company, valued at approximately $7,129,039.68. The trade was a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 651,784 shares of company stock valued at $96,522,922. 12.10% of the stock is currently owned by corporate insiders.

Institutional Trading of CAVA Group

Large investors have recently added to or reduced their stakes in the stock. Arcadia Investment Management Corp MI bought a new stake in CAVA Group in the fourth quarter valued at $25,000. Allworth Financial LP boosted its holdings in CAVA Group by 369.2% in the fourth quarter. Allworth Financial LP now owns 244 shares of the company’s stock valued at $30,000 after acquiring an additional 192 shares in the last quarter. Larson Financial Group LLC boosted its holdings in CAVA Group by 274.0% in the fourth quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock valued at $31,000 after acquiring an additional 200 shares in the last quarter. Whittier Trust Co. boosted its holdings in CAVA Group by 80.9% in the fourth quarter. Whittier Trust Co. now owns 284 shares of the company’s stock valued at $32,000 after acquiring an additional 127 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in CAVA Group by 884.4% in the fourth quarter. Signaturefd LLC now owns 315 shares of the company’s stock valued at $36,000 after acquiring an additional 283 shares in the last quarter. 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.