CAVA Group (NYSE:CAVA - Get Free Report) had its target price decreased by research analysts at TD Cowen from $120.00 to $90.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. TD Cowen's price objective suggests a potential upside of 5.79% from the company's current price.
Several other research firms have also recently commented on CAVA. UBS Group cut their price target on CAVA Group from $96.00 to $75.00 and set a "neutral" rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. cut their price target on CAVA Group from $115.00 to $95.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 25th. KeyCorp set a $85.00 price objective on CAVA Group and gave the company an "overweight" rating in a report on Wednesday. Melius initiated coverage on CAVA Group in a report on Monday, July 14th. They set a "hold" rating and a $95.00 target price for the company. Finally, Bank of America upped their target price on CAVA Group from $112.00 to $121.00 and gave the company a "buy" rating in a report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, CAVA Group currently has an average rating of "Moderate Buy" and a consensus price target of $106.56.
View Our Latest Stock Report on CAVA Group
CAVA Group Price Performance
NYSE:CAVA opened at $85.07 on Wednesday. The business's 50-day moving average is $83.46 and its two-hundred day moving average is $92.30. CAVA Group has a 12 month low of $70.00 and a 12 month high of $172.43. The firm has a market capitalization of $9.84 billion, a PE ratio of 70.89, a price-to-earnings-growth ratio of 4.11 and a beta of 2.65.
CAVA Group (NYSE:CAVA - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. CAVA Group had a return on equity of 10.61% and a net margin of 13.70%. The business had revenue of $280.62 million for the quarter, compared to analysts' expectations of $285.65 million. During the same quarter in the previous year, the firm posted $0.17 earnings per share. The company's revenue was up 20.2% compared to the same quarter last year. Equities analysts anticipate that CAVA Group will post 0.5 EPS for the current year.
Insider Transactions at CAVA Group
In other news, insider Jennifer Somers sold 2,861 shares of the 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 completion of the sale, the insider owned 137,048 shares in the company, valued at approximately $10,300,527.68. This represents a 2.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brett Schulman sold 31,856 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 $2,394,296.96. Following the sale, the chief executive officer owned 792,318 shares of the company's stock, valued at $59,550,620.88. This trade represents a 3.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,603 shares of company stock valued at $4,522,089 over the last three months. 12.10% of the stock is owned by company insiders.
Institutional Investors Weigh In On CAVA Group
Institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC lifted its position in shares of CAVA Group by 17,386.7% during 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 last quarter. SG Americas Securities LLC lifted its position 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 valued at $19,081,000 after acquiring an additional 195,389 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in CAVA Group during the 1st quarter valued at $257,000. Yousif Capital Management LLC acquired a new stake in CAVA Group during the 1st quarter valued at $2,429,000. Finally, Golden State Wealth Management LLC raised its stake in CAVA Group by 101.9% during the 1st quarter. Golden State Wealth Management LLC now owns 848 shares of the company's stock valued at $73,000 after purchasing an additional 428 shares during the period. Institutional investors and hedge funds own 73.15% of the company's stock.
About CAVA Group
(
Get Free Report)
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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