CAVA Group (NYSE:CAVA) Price Target Lowered to $88.00 at Citigroup

CAVA Group (NYSE:CAVA) had its price target decreased by Citigroup from $102.00 to $88.00 in a research report released on Wednesday morning,Benzinga reports. Citigroup currently has a neutral rating on the stock.

A number of other equities analysts have also weighed in on CAVA. Robert W. Baird increased their target price on CAVA Group from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. JPMorgan Chase & Co. lowered their target price on CAVA Group from $115.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 25th. TD Securities reiterated a “buy” rating and set a $120.00 target price on shares of CAVA Group in a research note on Friday, May 16th. UBS Group lowered their target price on CAVA Group from $96.00 to $75.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Wall Street Zen lowered CAVA Group from a “hold” rating to a “sell” rating in a research note on Friday, June 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.44.

CAVA Group Stock Down 16.8%

CAVA opened at $70.31 on Wednesday. CAVA Group has a 12-month low of $65.70 and a 12-month high of $172.43. The stock has a market cap of $8.13 billion, a price-to-earnings ratio of 59.08, a PEG ratio of 4.22 and a beta of 2.65. The business has a 50 day moving average of $83.23 and a 200-day moving average of $92.14.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, August 12th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. The company had revenue of $280.62 million for the quarter, compared to analyst estimates of $285.65 million. CAVA Group had a return on equity of 10.09% and a net margin of 12.98%. The firm’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.17 earnings per share. As a group, analysts expect that CAVA Group will post 0.5 earnings per share for the current year.

Insider Transactions at CAVA Group

In other CAVA Group news, insider Theodoros Xenohristos sold 3,062 shares of the firm’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $75.16, for a total value of $230,139.92. Following the sale, the insider owned 350,209 shares of the company’s stock, valued at approximately $26,321,708.44. This trade represents a 0.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Tricia K. Tolivar sold 4,845 shares of the firm’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $75.16, for a total value of $364,150.20. Following the completion of the sale, the chief financial officer directly owned 236,345 shares in the company, valued at approximately $17,763,690.20. This represents a 2.01% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,603 shares of company stock worth $4,522,089. 6.80% of the stock is owned by insiders.

Institutional Investors Weigh In On CAVA Group

Several hedge funds have recently modified their holdings of the company. Jump Financial LLC acquired a new stake in shares of CAVA Group during the 2nd quarter valued at $215,000. StoneX Group Inc. acquired a new position in CAVA Group during the 2nd quarter worth about $768,000. Diametric Capital LP acquired a new position in CAVA Group during the 2nd quarter worth about $281,000. Cresset Asset Management LLC lifted its holdings in CAVA Group by 20.3% during the 2nd quarter. Cresset Asset Management LLC now owns 9,165 shares of the company’s stock worth $772,000 after buying an additional 1,549 shares during the period. Finally, Brown Advisory Inc. lifted its holdings in CAVA Group by 9.3% during the 2nd quarter. Brown Advisory Inc. now owns 2,979 shares of the company’s stock worth $251,000 after buying an additional 253 shares during the period. Institutional investors and hedge funds 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.