Barclays Has Lowered Expectations for CAVA Group (NYSE:CAVA) Stock Price

CAVA Group (NYSE:CAVA) had its price objective reduced by stock analysts at Barclays from $91.00 to $74.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target indicates a potential upside of 7.33% from the company’s current price.

CAVA has been the subject of several other reports. KeyCorp set a $85.00 price target on shares of CAVA Group and gave the stock an “overweight” rating in a research note on Wednesday. Robert W. Baird raised their price target on shares of CAVA Group from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. Morgan Stanley set a $107.00 price objective on CAVA Group and gave the company an “equal weight” rating in a report on Monday, July 14th. Stifel Nicolaus cut their price objective on CAVA Group from $175.00 to $125.00 and set a “buy” rating for the company in a report on Wednesday, June 18th. Finally, Melius assumed coverage on CAVA Group in a report on Monday, July 14th. They issued a “hold” rating and a $95.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $100.44.

CAVA Group Stock Down 2.1%

Shares of CAVA opened at $68.95 on Wednesday. The stock has a market capitalization of $7.97 billion, a P/E ratio of 57.94, a P/E/G ratio of 3.58 and a beta of 2.65. CAVA Group has a twelve month low of $65.70 and a twelve month high of $172.43. The company has a 50 day moving average of $83.04 and a 200-day moving average of $91.77.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, August 12th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.03. The company had revenue of $280.62 million during the quarter, compared to analysts’ expectations of $285.65 million. CAVA Group had a net margin of 12.98% and a return on equity of 9.83%. The business’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period last year, the business earned $0.17 EPS. On average, sell-side analysts anticipate that CAVA Group will post 0.5 earnings per share for the current fiscal year.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, CAO Adam David Phillips sold 739 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 transaction of $55,543.24. Following the completion of the sale, the chief accounting officer owned 11,063 shares of the company’s stock, valued at $831,495.08. This trade represents a 6.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brett Schulman sold 31,856 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 $2,394,296.96. Following the sale, the chief executive officer directly owned 792,318 shares of the company’s stock, valued at $59,550,620.88. This represents a 3.87% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,603 shares of company stock worth $4,522,089. 6.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CAVA Group

A number of hedge funds and other institutional investors have recently modified their holdings of CAVA. GAMMA Investing LLC increased its position in shares of CAVA Group by 17,386.7% in the first quarter. GAMMA Investing LLC now owns 73,794 shares of the company’s stock worth $6,377,000 after purchasing an additional 73,372 shares during the period. PNC Financial Services Group Inc. increased its position in shares of CAVA Group by 123.4% in the first quarter. PNC Financial Services Group Inc. now owns 5,458 shares of the company’s stock worth $472,000 after purchasing an additional 3,015 shares during the period. SG Americas Securities LLC increased its position in shares of CAVA Group by 768.4% in the first quarter. SG Americas Securities LLC now owns 220,816 shares of the company’s stock worth $19,081,000 after purchasing an additional 195,389 shares during the period. Crossmark Global Holdings Inc. bought a new position in shares of CAVA Group in the first quarter worth $257,000. Finally, Yousif Capital Management LLC bought a new position in shares of CAVA Group in the first quarter worth $2,429,000. 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.