CAVA Group (NYSE:CAVA) Given New $75.00 Price Target at UBS Group

Key Points

• UBS Group has lowered its price target for CAVA Group from $96.00 to $75.00, indicating a potential downside of 11.84% from its current price.
• CAVA Group reported earnings of $0.16 per share for the last quarter, surpassing the consensus estimate by $0.03, with a revenue increase of 20.2% year-over-year.
• The consensus rating for CAVA Group is a "Moderate Buy" with an average target price of $106.56, alongside significant recent stakes added by institutional investors.

CAVA Group (NYSE:CAVA - Get Free Report) had its target price lowered by stock analysts at UBS Group from $96.00 to $75.00 in a report released on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. UBS Group's price target indicates a potential downside of 11.84% from the company's current price.

Several other research analysts also recently commented on the stock. KeyCorp set a $85.00 target price on shares of CAVA Group and gave the stock an "overweight" rating in a report on Wednesday. Robert W. Baird upped their target price on shares of CAVA Group from $105.00 to $115.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Bank of America upped their target price on shares of CAVA Group from $112.00 to $121.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Melius initiated coverage on shares of CAVA Group in a research note on Monday, July 14th. They set a "hold" rating and a $95.00 price objective on the stock. Finally, Stifel Nicolaus decreased their price objective on shares of CAVA Group from $175.00 to $125.00 and set a "buy" rating on the stock in a research note on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $106.56.

CAVA Group Stock Up 3.4%

Shares of NYSE:CAVA opened at $85.07 on Wednesday. The firm has a fifty day moving average of $83.46 and a two-hundred day moving average of $92.30. The firm has a market capitalization of $9.84 billion, a P/E ratio of 70.89, a price-to-earnings-growth ratio of 4.11 and a beta of 2.65. CAVA Group has a 12-month low of $70.00 and a 12-month high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.03. CAVA Group had a net margin of 13.70% and a return on equity of 10.61%. The business had revenue of $280.62 million during the quarter, compared to analyst estimates of $285.65 million. During the same quarter in the previous year, the business earned $0.17 EPS. CAVA Group's quarterly revenue was up 20.2% compared to the same quarter last year. Equities research analysts expect that CAVA Group will post 0.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CAVA Group news, insider Theodoros Xenohristos sold 3,062 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $75.16, for a total value of $230,139.92. Following the sale, the insider directly owned 350,209 shares in the company, valued at approximately $26,321,708.44. This trade represents a 0.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jennifer Somers sold 2,861 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $215,032.76. Following the sale, the insider owned 137,048 shares in the company, valued at approximately $10,300,527.68. The trade was a 2.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,603 shares of company stock valued at $4,522,089. 12.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its position in shares of CAVA Group by 17,386.7% in the 1st quarter. GAMMA Investing LLC now owns 73,794 shares of the company's stock valued at $6,377,000 after acquiring an additional 73,372 shares during the period. SG Americas Securities LLC boosted its holdings in shares of CAVA Group by 768.4% during the 1st quarter. SG Americas Securities LLC now owns 220,816 shares of the company's stock worth $19,081,000 after buying an additional 195,389 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in CAVA Group in the 1st quarter worth about $257,000. Yousif Capital Management LLC acquired a new stake in CAVA Group in the 1st quarter worth about $2,429,000. Finally, Golden State Wealth Management LLC raised its stake in CAVA Group by 101.9% in the 1st quarter. Golden State Wealth Management LLC now owns 848 shares of the company's stock worth $73,000 after purchasing an additional 428 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.

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