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

CAVA Group (NYSE:CAVA) had its price target dropped by equities research analysts at Citigroup from $163.00 to $140.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s target price points to a potential upside of 28.72% from the stock’s current price.

Several other equities research analysts also recently commented on CAVA. JPMorgan Chase & Co. upped their target price on CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Wedbush upped their price target on shares of CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. 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. Loop Capital increased their target price on shares of CAVA Group from $122.00 to $147.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Finally, Sanford C. Bernstein initiated coverage on shares of CAVA Group in a research report on Wednesday, November 20th. They set a “market perform” rating and a $145.00 target price on the stock. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $140.60.

CAVA Group Price Performance

Shares of CAVA Group stock traded down $9.84 during trading on Friday, hitting $108.77. The stock had a trading volume of 2,133,535 shares, compared to its average volume of 2,073,504. The firm has a market cap of $12.46 billion, a P/E ratio of 236.45 and a beta of 3.25. The business has a fifty day moving average of $123.37 and a two-hundred day moving average of $124.97. CAVA Group has a fifty-two week low of $48.55 and a fifty-two week high of $172.43.

Insider Activity at CAVA Group

In related news, CAO Adam David Phillips sold 615 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $124.39, for a total value of $76,499.85. Following the completion of the sale, 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 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 stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $84,336.42. Following the completion of the transaction, the insider now directly owns 57,312 shares of the company’s stock, valued at $7,129,039.68. This trade represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 651,784 shares of company stock worth $96,522,922. Company insiders own 12.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Conway Capital Management Inc. acquired a new position in CAVA Group in the third quarter worth about $5,524,000. Entropy Technologies LP acquired a new position in CAVA Group in the fourth quarter worth about $2,097,000. Empowered Funds LLC acquired a new position in CAVA Group in the fourth quarter worth about $5,007,000. SpiderRock Advisors LLC raised its position in CAVA Group by 8.9% in the third quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock worth $59,364,000 after purchasing an additional 39,319 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of CAVA Group by 262.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock worth $63,918,000 after buying an additional 373,835 shares in the last quarter. 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.