TD Cowen Issues Pessimistic Forecast for CAVA Group (NYSE:CAVA) Stock Price

CAVA Group (NYSE:CAVA) had its price target dropped by analysts at TD Cowen from $80.00 to $67.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price target indicates a potential upside of 43.53% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on CAVA. The Goldman Sachs Group started coverage on CAVA Group in a report on Monday, October 20th. They set a “neutral” rating and a $74.00 price target on the stock. Weiss Ratings restated a “hold (c)” rating on shares of CAVA Group in a research report on Wednesday, October 8th. Melius initiated coverage on CAVA Group in a research note on Monday, July 14th. They set a “hold” rating and a $95.00 target price on the stock. UBS Group reduced their price target on CAVA Group from $75.00 to $61.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Royal Bank Of Canada initiated coverage on CAVA Group in a research note on Wednesday, October 8th. They issued an “outperform” rating and a $80.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, CAVA Group has an average rating of “Moderate Buy” and an average target price of $82.55.

CAVA Group Stock Performance

CAVA Group stock opened at $46.68 on Wednesday. The company has a 50-day simple moving average of $62.30 and a 200-day simple moving average of $76.24. The firm has a market capitalization of $5.41 billion, a P/E ratio of 40.24, a P/E/G ratio of 2.97 and a beta of 2.47. CAVA Group has a one year low of $46.57 and a one year high of $172.43.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). The firm had revenue of $292.24 million during the quarter, compared to the consensus estimate of $292.88 million. CAVA Group had a net margin of 12.14% and a return on equity of 8.88%. The company’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.15 earnings per share. As a group, sell-side analysts forecast that CAVA Group will post 0.5 earnings per share for the current year.

Institutional Investors Weigh In On CAVA Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. WJ Financial Advisors LLC bought a new position in shares of CAVA Group during the 3rd quarter valued at about $437,000. Ameritas Advisory Services LLC raised its holdings in shares of CAVA Group by 42,785.4% in the 3rd quarter. Ameritas Advisory Services LLC now owns 35,166 shares of the company’s stock worth $2,124,000 after purchasing an additional 35,084 shares in the last quarter. Assetmark Inc. lifted its stake in CAVA Group by 96,953.5% during the third quarter. Assetmark Inc. now owns 98,024 shares of the company’s stock valued at $5,922,000 after purchasing an additional 97,923 shares during the last quarter. Rhumbline Advisers boosted its holdings in CAVA Group by 9.8% during the third quarter. Rhumbline Advisers now owns 276,491 shares of the company’s stock worth $16,703,000 after buying an additional 24,700 shares in the last quarter. Finally, Midwest Trust Co acquired a new position in CAVA Group in the third quarter worth approximately $1,941,000. 73.15% of the stock is currently owned by institutional investors.

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.