CAVA Group (NYSE:CAVA) Given New $104.00 Price Target at Barclays

CAVA Group (NYSE:CAVA) had its target price cut by equities research analysts at Barclays from $127.00 to $104.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential upside of 4.53% from the company’s current price.

A number of other brokerages have also weighed in on CAVA. 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 report on Thursday, November 14th. Robert W. Baird lifted their price target on CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Citigroup cut their price objective 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. JPMorgan Chase & Co. boosted their target price on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Finally, Sanford C. Bernstein assumed coverage on shares of CAVA Group in a research note on Wednesday, November 20th. They set a “market perform” rating and a $145.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $136.40.

CAVA Group Price Performance

Shares of NYSE CAVA opened at $99.50 on Wednesday. The company has a market cap of $11.40 billion, a PE ratio of 216.29 and a beta of 3.25. The stock has a fifty day moving average price of $122.12 and a 200 day moving average price of $125.97. CAVA Group has a 1-year low of $50.37 and a 1-year high of $172.43.

CAVA Group (NYSE:CAVA) last released 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). CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The firm had revenue of $227.40 million during the quarter, compared to analyst estimates of $223.34 million. Analysts anticipate that CAVA Group will post 0.5 earnings per share for the current fiscal year.

Insider Buying and Selling at CAVA Group

In other news, Director Ronald M. Shaich sold 622,549 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $149.40, for a total value of $93,008,820.60. Following the transaction, the director now directly owns 6,307 shares in the company, valued at $942,265.80. This trade represents a 99.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kenneth Robert Bertram sold 678 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $84,336.42. Following the sale, the insider now directly owns 57,312 shares of the company’s stock, valued at approximately $7,129,039.68. This trade represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 651,784 shares of company stock worth $96,522,922. Corporate insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC grew its stake in shares of CAVA Group by 36,658.7% during the fourth quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock valued at $277,683,000 after acquiring an additional 2,455,035 shares in the last quarter. Vanguard Group Inc. grew its stake in CAVA Group by 20.4% during the 4th quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company’s stock valued at $903,709,000 after purchasing an additional 1,357,187 shares in the last quarter. Man Group plc increased its holdings in CAVA Group by 563.7% during the 4th quarter. Man Group plc now owns 935,075 shares of the company’s stock worth $105,476,000 after purchasing an additional 794,187 shares during the last quarter. Geode Capital Management LLC raised its position in shares of CAVA Group by 121.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock valued at $151,492,000 after purchasing an additional 669,599 shares in the last quarter. Finally, Barclays PLC raised its position in shares of CAVA Group by 116.7% in the 4th quarter. Barclays PLC now owns 84,755 shares of the company’s stock valued at $9,560,000 after purchasing an additional 591,866 shares in the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Company Profile

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.