Barclays Cuts CAVA Group (NYSE:CAVA) Price Target to $90.00

CAVA Group (NYSE:CAVA) had its price objective cut by Barclays from $104.00 to $90.00 in a research note published on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities research analysts also recently issued reports on CAVA. Piper Sandler upgraded shares of CAVA Group from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $142.00 to $115.00 in a report on Friday, February 28th. JPMorgan Chase & Co. raised shares of CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 price objective for the company in a research note on Thursday, March 20th. Bank of America assumed coverage on CAVA Group in a research report on Monday, March 31st. They issued a “buy” rating and a $112.00 target price on the stock. Wedbush reissued an “outperform” rating and set a $150.00 price target on shares of CAVA Group in a research report on Wednesday, February 26th. Finally, Citigroup cut their price objective on CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $124.19.

CAVA Group Stock Performance

CAVA stock opened at $90.98 on Tuesday. The company has a 50 day moving average price of $88.61 and a two-hundred day moving average price of $116.28. The stock has a market capitalization of $10.52 billion, a P/E ratio of 197.78 and a beta of 3.33. CAVA Group has a one year low of $59.02 and a one year high of $172.43.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 EPS 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 business had revenue of $227.40 million during the quarter, compared to analysts’ expectations of $223.34 million. Research analysts forecast that CAVA Group will post 0.5 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Kenneth Robert Bertram sold 678 shares of the 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 $84,336.42. Following the completion of the transaction, the insider now directly owns 57,312 shares in the company, valued at approximately $7,129,039.68. This represents a 1.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Adam David Phillips sold 615 shares of CAVA Group stock in a transaction 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 sale, the chief accounting officer now owns 10,884 shares of the company’s stock, 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 5,734 shares of company stock worth $713,252 over the last ninety days. Corporate insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On CAVA Group

A number of hedge funds have recently bought and sold shares of the company. Arcadia Investment Management Corp MI bought a new position in CAVA Group during the 4th quarter worth approximately $25,000. Allworth Financial LP lifted its stake in CAVA Group by 369.2% during the fourth quarter. Allworth Financial LP now owns 244 shares of the company’s stock worth $30,000 after purchasing an additional 192 shares during the last quarter. Larson Financial Group LLC boosted its holdings in 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 purchasing an additional 200 shares during the period. Versant Capital Management Inc acquired a new stake in shares of CAVA Group during the first quarter worth $31,000. Finally, Whittier Trust Co. lifted its position in shares of CAVA Group by 80.9% in the 4th quarter. Whittier Trust Co. now owns 284 shares of the company’s stock worth $32,000 after buying an additional 127 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

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.