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

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

CAVA has been the subject of several other research reports. Sanford C. Bernstein assumed coverage on CAVA Group in a research report on Wednesday, November 20th. They set a “market perform” rating and a $145.00 target price for the company. Citigroup cut their target price on CAVA Group from $163.00 to $140.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. TD Cowen raised their target price on CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. lifted their price objective on CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Finally, Morgan Stanley lifted their price objective on CAVA Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, CAVA Group has an average rating of “Moderate Buy” and a consensus price target of $131.47.

CAVA Group Trading Up 5.4 %

Shares of NYSE:CAVA opened at $94.98 on Wednesday. The firm has a market capitalization of $10.88 billion, a PE ratio of 206.47 and a beta of 3.25. CAVA Group has a 1-year low of $56.03 and a 1-year high of $172.43. The business’s 50 day moving average is $121.21 and its 200-day moving average is $125.53.

CAVA Group (NYSE:CAVA) last posted its earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company 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%. On average, sell-side analysts predict that CAVA Group will post 0.5 EPS for the current year.

Insider Activity

In related news, Director Ronald M. Shaich sold 622,549 shares of CAVA Group 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 completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Adam David Phillips sold 615 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 value of $76,499.85. Following 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 trade represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 651,784 shares of company stock valued at $96,522,922. Company insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

Institutional investors have recently made changes to their positions in the stock. Arcadia Investment Management Corp MI acquired a new stake in shares of CAVA Group during the fourth quarter worth $25,000. Allworth Financial LP grew its stake in shares of CAVA Group by 369.2% during the fourth quarter. Allworth Financial LP now owns 244 shares of the company’s stock worth $30,000 after purchasing an additional 192 shares during the period. Larson Financial Group LLC grew its stake in shares of CAVA Group by 274.0% during the fourth quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock worth $31,000 after purchasing an additional 200 shares during the period. Whittier Trust Co. grew its stake 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 during the period. Finally, Signaturefd LLC grew its stake 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 during the period. 73.15% of the stock is owned by institutional investors and hedge funds.

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.