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

CAVA Group (NYSE:CAVA) had its price objective reduced by Loop Capital from $147.00 to $100.00 in a report released on Thursday morning,Benzinga reports. They currently have a hold rating on the stock.

CAVA has been the subject of a number of other reports. JPMorgan Chase & Co. boosted their price target on CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. William Blair reiterated an “outperform” rating on shares of CAVA Group in a research note on Wednesday. Robert W. Baird raised their price target on shares of CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. UBS Group decreased their price objective on shares of CAVA Group from $160.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Finally, TD Cowen increased their target price on shares of CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $131.47.

CAVA Group Price Performance

NYSE:CAVA opened at $94.98 on Thursday. The company’s fifty day moving average price is $120.73 and its 200-day moving average price is $125.57. CAVA Group has a 1-year low of $56.03 and a 1-year high of $172.43. The firm has a market capitalization of $10.88 billion, a P/E ratio of 206.47 and a beta of 3.25.

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

Insider Buying and Selling

In related news, CAO Adam David Phillips sold 615 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $76,499.85. Following the transaction, the chief accounting officer now directly owns 10,884 shares in the company, valued at approximately $1,353,860.76. The trade was a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ronald M. Shaich sold 622,549 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $149.40, for a total transaction of $93,008,820.60. Following the completion of the sale, the director now owns 6,307 shares of the company’s stock, valued at approximately $942,265.80. The trade was a 99.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 651,784 shares of company stock worth $96,522,922. 12.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CAVA Group

Institutional investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC increased its stake in shares of CAVA Group by 36,658.7% in the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock worth $277,683,000 after acquiring an additional 2,455,035 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of CAVA Group by 20.4% in the fourth 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 during the period. Man Group plc increased its position in CAVA Group by 563.7% during the fourth 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 stake in CAVA Group by 121.0% during the third quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock worth $151,492,000 after purchasing an additional 669,599 shares during the period. Finally, Barclays PLC boosted its holdings in 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 during 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.