CAVA Group (NYSE:CAVA) Given New $88.00 Price Target at Citigroup

CAVA Group (NYSE:CAVA) had its target price lowered by investment analysts at Citigroup from $102.00 to $88.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price target would indicate a potential upside of 27.63% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the company. Wall Street Zen cut CAVA Group from a “hold” rating to a “sell” rating in a report on Friday, June 27th. Melius initiated coverage on CAVA Group in a report on Monday, July 14th. They issued a “hold” rating and a $95.00 price objective on the stock. UBS Group lowered their price objective on CAVA Group from $96.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday. Morgan Stanley lowered their price objective on CAVA Group from $107.00 to $97.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, TD Securities reiterated a “buy” rating and issued a $120.00 price objective on shares of CAVA Group in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $100.44.

CAVA Group Stock Down 2.1%

Shares of CAVA Group stock opened at $68.95 on Wednesday. CAVA Group has a twelve month low of $65.70 and a twelve month high of $172.43. The business has a 50-day moving average price of $83.04 and a 200 day moving average price of $91.77. The firm has a market cap of $7.97 billion, a PE ratio of 57.94, a P/E/G ratio of 3.58 and a beta of 2.65.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Tuesday, August 12th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03. CAVA Group had a return on equity of 9.83% and a net margin of 12.98%. The company had revenue of $280.62 million for the quarter, compared to analysts’ expectations of $285.65 million. During the same period in the previous year, the firm posted $0.17 EPS. CAVA Group’s revenue was up 20.2% compared to the same quarter last year. On average, sell-side analysts expect that CAVA Group will post 0.5 EPS for the current year.

Insider Transactions at CAVA Group

In related news, CEO Brett Schulman sold 31,856 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $75.16, for a total value of $2,394,296.96. Following the transaction, the chief executive officer directly owned 792,318 shares in the company, valued at approximately $59,550,620.88. This represents a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Theodoros Xenohristos sold 3,062 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 350,209 shares in the company, valued at $26,321,708.44. This represents a 0.87% decrease in their ownership of the stock. 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 in the last ninety days. 6.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in CAVA Group by 13.2% in the first quarter. Vanguard Group Inc. now owns 9,065,782 shares of the company’s stock valued at $783,374,000 after acquiring an additional 1,054,180 shares during the last quarter. Jennison Associates LLC lifted its holdings in CAVA Group by 246.1% in the first quarter. Jennison Associates LLC now owns 8,519,459 shares of the company’s stock valued at $736,166,000 after acquiring an additional 6,057,727 shares during the last quarter. State Street Corp lifted its holdings in CAVA Group by 5.0% in the second quarter. State Street Corp now owns 2,543,335 shares of the company’s stock valued at $214,225,000 after acquiring an additional 122,163 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in CAVA Group by 114.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,394,561 shares of the company’s stock valued at $206,915,000 after acquiring an additional 1,277,912 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in CAVA Group by 16.2% in the second quarter. Geode Capital Management LLC now owns 1,622,898 shares of the company’s stock valued at $136,715,000 after purchasing an additional 226,785 shares during the period. 73.15% of the stock is currently owned by institutional investors and hedge funds.

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.