UBS Group Reiterates Neutral Rating for CAVA Group (NYSE:CAVA)

CAVA Group (NYSE:CAVA)‘s stock had its “neutral” rating restated by equities researchers at UBS Group in a research report issued to clients and investors on Tuesday, MarketBeat reports. They currently have a $96.00 target price on the stock, down from their prior target price of $112.00. UBS Group’s price objective would indicate a potential upside of 7.34% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Morgan Stanley set a $107.00 price target on shares of CAVA Group and gave the stock an “equal weight” rating in a research note on Monday, July 14th. Melius assumed coverage on shares of CAVA Group in a report on Monday, July 14th. They set a “hold” rating and a $95.00 price objective for the company. Robert W. Baird boosted their price target on shares of CAVA Group from $105.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. Stifel Nicolaus cut their price objective on CAVA Group from $175.00 to $125.00 and set a “buy” rating on the stock in a report on Wednesday, June 18th. Finally, Sanford C. Bernstein raised shares of CAVA Group from a “market perform” rating to an “outperform” rating and set a $115.00 target price for the company in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $119.72.

CAVA Group Price Performance

CAVA stock opened at $89.43 on Tuesday. The stock has a market cap of $10.34 billion, a PE ratio of 74.53, a P/E/G ratio of 4.37 and a beta of 2.65. CAVA Group has a one year low of $70.00 and a one year high of $172.43. The firm has a 50 day simple moving average of $83.14 and a two-hundred day simple moving average of $93.52.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results on Thursday, May 15th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.08. CAVA Group had a net margin of 13.70% and a return on equity of 10.61%. The business had revenue of $331.83 million during the quarter, compared to analyst estimates of $327.98 million. During the same period in the prior year, the business posted $0.12 earnings per share. The company’s revenue was up 28.1% on a year-over-year basis. On average, research analysts expect that CAVA Group will post 0.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other CAVA Group news, insider Jennifer Somers sold 2,861 shares of CAVA Group stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $215,032.76. Following the completion of the sale, the insider directly owned 137,048 shares in the company, valued at $10,300,527.68. The trade was a 2.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Theodoros Xenohristos sold 3,062 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $75.16, for a total value of $230,139.92. Following the transaction, the insider directly owned 350,209 shares in the company, valued at $26,321,708.44. This trade represents a 0.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,951 shares of company stock valued at $5,409,027. Company insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

Hedge funds have recently modified their holdings of the business. First Horizon Advisors Inc. grew its holdings in shares of CAVA Group by 1,400.0% in the first quarter. First Horizon Advisors Inc. now owns 285 shares of the company’s stock valued at $25,000 after purchasing an additional 266 shares during the period. Vision Financial Markets LLC acquired a new stake in shares of CAVA Group in the first quarter valued at about $26,000. Dagco Inc. purchased a new position in shares of CAVA Group during the 1st quarter worth approximately $27,000. Versant Capital Management Inc acquired a new position in CAVA Group in the 1st quarter valued at $31,000. Finally, Atlantic Union Bankshares Corp acquired a new position in CAVA Group in the second quarter valued at $31,000. Hedge funds and other institutional investors 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.