Stifel Nicolaus Cuts CAVA Group (NYSE:CAVA) Price Target to $125.00

CAVA Group (NYSE:CAVA - Get Free Report) had its price target cut by research analysts at Stifel Nicolaus from $175.00 to $125.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Stifel Nicolaus' price objective would indicate a potential upside of 66.69% from the company's previous close.

Several other analysts have also recently issued reports on CAVA. William Blair reiterated an "outperform" rating on shares of CAVA Group in a research note on Wednesday, February 26th. UBS Group cut their price target on CAVA Group from $125.00 to $112.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Citigroup lifted their price objective on CAVA Group from $114.00 to $115.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. TD Securities restated a "buy" rating and set a $120.00 target price on shares of CAVA Group in a research note on Friday, May 16th. Finally, Sanford C. Bernstein upgraded shares of CAVA Group from a "market perform" rating to an "outperform" rating and set a $115.00 price target for the company in a research note on Wednesday, April 23rd. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $119.88.

CAVA Group Stock Up 0.4%

NYSE CAVA traded up $0.28 during trading on Wednesday, hitting $74.99. The stock had a trading volume of 883,509 shares, compared to its average volume of 3,105,583. The company has a market capitalization of $8.67 billion, a PE ratio of 62.34, a PEG ratio of 3.49 and a beta of 2.77. The firm has a 50 day moving average price of $87.01 and a 200 day moving average price of $102.62. CAVA Group has a twelve month low of $70.00 and a twelve month high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The company reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.08. CAVA Group had a net margin of 13.70% and a return on equity of 10.61%. The firm had revenue of $331.83 million during the quarter, compared to analysts' expectations of $327.98 million. During the same quarter in the previous year, the business posted $0.12 earnings per share. The business's quarterly revenue was up 28.1% compared to the same quarter last year. On average, sell-side analysts anticipate that CAVA Group will post 0.5 earnings per share for the current year.

Insider Buying and Selling at CAVA Group

In other news, insider Kelly Costanza sold 10,243 shares of CAVA Group stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $86.63, for a total value of $887,351.09. Following the transaction, the insider now directly owns 125,347 shares of the company's stock, valued at $10,858,810.61. The trade was a 7.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Theodoros Xenohristos sold 9,348 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $94.88, for a total transaction of $886,938.24. Following the sale, the insider now owns 353,271 shares of the company's stock, valued at approximately $33,518,352.48. This represents a 2.58% decrease in their position. The disclosure for this sale can be found here. 12.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CAVA Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in CAVA Group by 13.2% during the 1st quarter. Vanguard Group Inc. now owns 9,065,782 shares of the company's stock worth $783,374,000 after acquiring an additional 1,054,180 shares during the period. Jennison Associates LLC lifted its holdings in shares of CAVA Group by 246.1% during the first quarter. Jennison Associates LLC now owns 8,519,459 shares of the company's stock worth $736,166,000 after purchasing an additional 6,057,727 shares during the period. FMR LLC grew its position in CAVA Group by 14.1% in the 4th quarter. FMR LLC now owns 3,976,353 shares of the company's stock valued at $448,533,000 after buying an additional 491,320 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in CAVA Group by 114.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,394,561 shares of the company's stock valued at $206,915,000 after buying an additional 1,277,912 shares during the period. Finally, Federated Hermes Inc. raised its position in CAVA Group by 33.0% during the 4th quarter. Federated Hermes Inc. now owns 1,464,987 shares of the company's stock worth $165,243,000 after buying an additional 363,814 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.

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