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

CAVA Group (NYSE:CAVA) had its price target cut by TD Securities from $150.00 to $130.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

CAVA has been the topic of a number of other research reports. Sanford C. Bernstein began coverage on CAVA Group in a report on Wednesday, November 20th. They set a “market perform” rating and a $145.00 price target on the stock. 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. Barclays reduced their price target on CAVA Group from $127.00 to $104.00 and set an “equal weight” rating on the stock in a report on Wednesday. William Blair restated an “outperform” rating on shares of CAVA Group in a report on Wednesday, November 13th. Finally, TD Cowen boosted their price target on CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $131.47.

CAVA Group Trading Up 5.4 %

NYSE CAVA opened at $94.98 on Wednesday. CAVA Group has a 1-year low of $56.03 and a 1-year high of $172.43. The stock has a 50-day moving average of $121.21 and a 200-day moving average of $125.53. The firm has a market cap of $10.88 billion, a PE ratio of 206.47 and a beta of 3.25.

CAVA Group (NYSE:CAVA) last released 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 net margin of 5.88% and a return on equity of 9.10%. The company had revenue of $227.40 million during the quarter, compared to the consensus estimate of $223.34 million. As a group, equities research analysts forecast that CAVA Group will post 0.5 earnings per share for the current fiscal year.

Insider Transactions at CAVA Group

In other news, CAO Adam David Phillips sold 615 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $76,499.85. Following the sale, the chief accounting officer now directly owns 10,884 shares of the company’s stock, valued at $1,353,860.76. The trade was a 5.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brett Schulman sold 2,936 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $365,209.04. Following the completion of the sale, the chief executive officer now directly owns 773,433 shares in the company, valued at approximately $96,207,330.87. This represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 651,784 shares of company stock valued at $96,522,922 in the last ninety days. 12.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CAVA Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in CAVA Group by 20.4% in the 4th quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company’s stock valued at $903,709,000 after acquiring an additional 1,357,187 shares in the last quarter. FMR LLC lifted its position in CAVA Group by 14.1% in the 4th quarter. FMR LLC now owns 3,976,353 shares of the company’s stock valued at $448,533,000 after acquiring an additional 491,320 shares in the last quarter. Jennison Associates LLC lifted its position in CAVA Group by 36,658.7% in the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock valued at $277,683,000 after acquiring an additional 2,455,035 shares in the last quarter. Two Sigma Advisers LP lifted its position in CAVA Group by 17.0% in the 3rd quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock valued at $273,820,000 after acquiring an additional 321,800 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in CAVA Group by 33.0% in the 4th quarter. Federated Hermes Inc. now owns 1,464,987 shares of the company’s stock valued at $165,243,000 after acquiring an additional 363,814 shares in the last quarter. 73.15% of the stock is owned by 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.