UBS Group Issues Pessimistic Forecast for CAVA Group (NYSE:CAVA) Stock Price

CAVA Group (NYSE:CAVA) had its price target reduced by UBS Group from $96.00 to $75.00 in a research note published on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts have also issued reports on CAVA. JPMorgan Chase & Co. dropped their price target on shares of CAVA Group from $115.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 25th. Stifel Nicolaus dropped their price target on shares of CAVA Group from $175.00 to $125.00 and set a “buy” rating on the stock in a research note on Wednesday, June 18th. Sanford C. Bernstein set a $74.00 price target on shares of CAVA Group in a research note on Wednesday. Citigroup boosted their price objective on shares of CAVA Group from $114.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. Finally, Bank of America boosted their price objective on shares of CAVA Group from $112.00 to $121.00 and gave the stock a “buy” rating in a report on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $100.44.

CAVA Group Stock Performance

NYSE CAVA opened at $69.76 on Wednesday. CAVA Group has a one year low of $65.70 and a one year high of $172.43. The firm’s fifty day moving average is $82.85 and its two-hundred day moving average is $91.38. The firm has a market cap of $8.09 billion, a PE ratio of 58.62, a P/E/G ratio of 3.45 and a beta of 2.65.

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

Insider Buying and Selling

In other CAVA Group news, CAO Adam David Phillips sold 739 shares of the company’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $75.16, for a total value of $55,543.24. Following the sale, the chief accounting officer owned 11,063 shares of the company’s stock, valued at $831,495.08. This represents a 6.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Tricia K. Tolivar sold 4,845 shares of the company’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $364,150.20. Following the completion of the sale, the chief financial officer directly owned 236,345 shares in the company, valued at $17,763,690.20. This trade represents a 2.01% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,603 shares of company stock valued at $4,522,089. 6.80% of the stock is owned by company insiders.

Institutional Trading of CAVA Group

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its position in shares of CAVA Group by 17,386.7% in the first quarter. GAMMA Investing LLC now owns 73,794 shares of the company’s stock valued at $6,377,000 after buying an additional 73,372 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of CAVA Group by 123.4% in the first quarter. PNC Financial Services Group Inc. now owns 5,458 shares of the company’s stock valued at $472,000 after buying an additional 3,015 shares during the last quarter. SG Americas Securities LLC raised its position in shares of CAVA Group by 768.4% in the first quarter. SG Americas Securities LLC now owns 220,816 shares of the company’s stock valued at $19,081,000 after buying an additional 195,389 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of CAVA Group in the first quarter valued at approximately $257,000. Finally, Yousif Capital Management LLC acquired a new position in shares of CAVA Group in the first quarter valued at approximately $2,429,000. 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.