CAVA Group (NYSE:CAVA) Given New $90.00 Price Target at Barclays

CAVA Group (NYSE:CAVA) had its target price cut by Barclays from $104.00 to $90.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other brokerages have also weighed in on CAVA. Wedbush reaffirmed an “outperform” rating and issued a $150.00 target price on shares of CAVA Group in a research report on Wednesday, February 26th. Bank of America assumed coverage on shares of CAVA Group in a report on Monday, March 31st. They issued a “buy” rating and a $112.00 price objective on the stock. William Blair reissued an “outperform” rating on shares of CAVA Group in a research note on Wednesday, February 26th. UBS Group dropped their price target on shares of CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, Citigroup reduced 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. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $126.06.

CAVA Group Stock Performance

NYSE CAVA opened at $81.28 on Tuesday. CAVA Group has a one year low of $59.02 and a one year high of $172.43. The company has a 50-day simple moving average of $90.32 and a 200-day simple moving average of $116.74. The firm has a market capitalization of $9.40 billion, a PE ratio of 176.70 and a beta of 3.33.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The company had revenue of $227.40 million during the quarter, compared to analyst estimates of $223.34 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. Equities analysts forecast that CAVA Group will post 0.5 earnings per share for the current year.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, CAO Adam David Phillips sold 615 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 value of $76,499.85. Following the transaction, the chief accounting officer now owns 10,884 shares of the company’s stock, valued at approximately $1,353,860.76. This represents a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kenneth Robert Bertram sold 678 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $124.39, for a total value 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 represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,734 shares of company stock valued at $713,252. 12.10% of the stock is owned by insiders.

Institutional Trading of CAVA Group

Several institutional investors and hedge funds have recently bought and sold shares of CAVA. MML Investors Services LLC acquired a new stake in shares of CAVA Group during the third quarter valued at approximately $288,000. Virtu Financial LLC grew its position in CAVA Group by 306.9% during the 3rd quarter. Virtu Financial LLC now owns 40,088 shares of the company’s stock worth $4,965,000 after purchasing an additional 30,235 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in CAVA Group during the 3rd quarter valued at $286,000. Lord Abbett & CO. LLC lifted its holdings in shares of CAVA Group by 1.5% in the third quarter. Lord Abbett & CO. LLC now owns 1,358,250 shares of the company’s stock valued at $168,219,000 after purchasing an additional 19,493 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of CAVA Group by 37.0% in the fourth quarter. GAMMA Investing LLC now owns 422 shares of the company’s stock worth $48,000 after buying an additional 114 shares during the period. Institutional investors and hedge funds 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.