TD Securities Cuts CAVA Group (NYSE:CAVA) Price Target to $130.00

CAVA Group (NYSE:CAVA) had its target price dropped by analysts at TD Securities from $150.00 to $130.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Securities’ price objective would suggest a potential upside of 30.66% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Stifel Nicolaus lifted their target price on CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Citigroup cut their price target on CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Morgan Stanley upped their price objective on CAVA Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Barclays cut their target price on CAVA Group from $127.00 to $104.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Finally, Robert W. Baird boosted their price target on shares of CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $136.40.

CAVA Group Stock Down 4.5 %

NYSE:CAVA opened at $99.50 on Wednesday. The business’s 50 day moving average is $122.12 and its two-hundred day moving average is $125.97. CAVA Group has a 52 week low of $50.37 and a 52 week high of $172.43. The company has a market cap of $11.40 billion, a PE ratio of 216.29 and a beta of 3.25.

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

Insider Activity

In related news, insider Kenneth Robert Bertram sold 678 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $84,336.42. Following the completion of the sale, the insider now directly owns 57,312 shares in the company, valued at approximately $7,129,039.68. This trade represents a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Adam David Phillips sold 615 shares of CAVA Group stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $76,499.85. Following the completion of the transaction, the chief accounting officer now owns 10,884 shares in the company, valued at approximately $1,353,860.76. This trade represents a 5.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 651,784 shares of company stock worth $96,522,922 over the last 90 days. 12.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CAVA Group

Several hedge funds have recently modified their holdings of CAVA. Arcadia Investment Management Corp MI purchased a new position in CAVA Group in the 4th quarter worth about $25,000. Allworth Financial LP boosted its holdings in shares of CAVA Group by 369.2% in the fourth quarter. Allworth Financial LP now owns 244 shares of the company’s stock worth $30,000 after buying an additional 192 shares during the period. Larson Financial Group LLC increased its position in shares of CAVA Group by 274.0% in the fourth quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock worth $31,000 after acquiring an additional 200 shares in the last quarter. Whittier Trust Co. increased its position in shares of CAVA Group by 80.9% in the fourth quarter. Whittier Trust Co. now owns 284 shares of the company’s stock worth $32,000 after acquiring an additional 127 shares in the last quarter. Finally, Signaturefd LLC raised its stake in CAVA Group by 884.4% during the 4th quarter. Signaturefd LLC now owns 315 shares of the company’s stock valued at $36,000 after purchasing an additional 283 shares during the period. 73.15% of the stock is owned by hedge funds and other institutional investors.

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.