Barclays Lowers CAVA Group (NYSE:CAVA) Price Target to $90.00

CAVA Group (NYSE:CAVA - Get Free Report) had its price target lowered by equities researchers at Barclays from $104.00 to $90.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Barclays's target price indicates a potential downside of 0.82% from the stock's previous close.

Several other analysts have also recently commented on the company. Bank of America began coverage on CAVA Group in a report on Monday, March 31st. They issued a "buy" rating and a $112.00 target price on the stock. TD Securities decreased their price objective on shares of CAVA Group from $130.00 to $120.00 and set a "buy" rating for the company in a research report on Monday, April 21st. Piper Sandler upgraded shares of CAVA Group from a "neutral" rating to an "overweight" rating and dropped their target price for the company from $142.00 to $115.00 in a report on Friday, February 28th. Loop Capital decreased their price target on CAVA Group from $147.00 to $100.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Finally, William Blair reissued an "outperform" rating on shares of CAVA Group in a research note on Wednesday, February 26th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $124.19.

CAVA Group Stock Down 0.3 %

Shares of CAVA stock traded down $0.28 during trading hours on Tuesday, hitting $90.74. 1,877,597 shares of the company's stock traded hands, compared to its average volume of 3,115,847. The stock has a market cap of $10.49 billion, a PE ratio of 197.26 and a beta of 3.33. The stock's 50 day simple moving average is $87.76 and its 200 day simple moving average is $115.89. CAVA Group has a 12 month low of $66.15 and a 12 month high of $172.43.

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

Insider Activity at CAVA Group

In related news, CAO Adam David Phillips sold 615 shares of the firm's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $76,499.85. Following the transaction, the chief accounting officer now directly owns 10,884 shares of the company's stock, valued at $1,353,860.76. This trade represents a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Tricia K. Tolivar sold 1,505 shares of the company's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $187,206.95. Following the completion of the sale, the chief financial officer now directly owns 234,087 shares of the company's stock, valued at $29,118,081.93. The trade was a 0.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,734 shares of company stock valued at $713,252. 12.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CAVA Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in CAVA Group by 20.4% in the fourth quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company's stock worth $903,709,000 after purchasing an additional 1,357,187 shares during the last quarter. FMR LLC boosted its holdings in shares of CAVA Group by 14.1% in the 4th quarter. FMR LLC now owns 3,976,353 shares of the company's stock worth $448,533,000 after buying an additional 491,320 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of CAVA Group by 36,658.7% in the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company's stock worth $277,683,000 after buying an additional 2,455,035 shares during the last quarter. Federated Hermes Inc. grew its position in CAVA Group by 33.0% during the fourth quarter. Federated Hermes Inc. now owns 1,464,987 shares of the company's stock valued at $165,243,000 after buying an additional 363,814 shares during the period. Finally, Lord Abbett & CO. LLC increased its stake in shares of CAVA Group by 2.3% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,389,327 shares of the company's stock worth $156,716,000 after purchasing an additional 31,077 shares during the last quarter. Hedge funds and other 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.