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

by · The Markets Daily

CAVA Group (NYSE:CAVA – Get Free Report) had its price objective lowered by investment analysts at Barclays from $142.00 to $127.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 11.73% from the stock’s current price.

A number of other equities analysts have also recently issued reports on CAVA. William Blair reissued an “outperform” rating on shares of CAVA Group in a report on Wednesday, November 13th. Loop Capital increased their price objective on CAVA Group from $122.00 to $147.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Robert W. Baird lifted their price objective on CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a report on Monday, November 4th. TD Cowen upped their target price on shares of CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, UBS Group dropped their target price on shares of CAVA Group from $160.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $142.13.

Get Our Latest Stock Analysis on CAVA

CAVA Group Trading Down 4.4 %

CAVA stock traded down $5.21 during midday trading on Tuesday, hitting $113.67. The stock had a trading volume of 1,878,340 shares, compared to its average volume of 2,264,108. The firm has a market capitalization of $13.02 billion, a price-to-earnings ratio of 247.11 and a beta of 3.21. The stock has a 50-day simple moving average of $132.20 and a 200 day simple moving average of $116.35. CAVA Group has a 52 week low of $40.05 and a 52 week high of $172.43.

CAVA Group (NYSE:CAVA – Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.04. The business had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The firm’s revenue was up 38.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.06 EPS. On average, equities analysts forecast that CAVA Group will post 0.5 EPS for the current year.

Insider Transactions at CAVA Group

In other news, Director Karen Kochevar sold 15,000 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $142.23, for a total transaction of $2,133,450.00. Following the completion of the transaction, the director now directly owns 1,307 shares in the company, valued at approximately $185,894.61. The trade was a 91.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronald M. Shaich sold 622,549 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $149.40, for a total transaction of $93,008,820.60. Following the completion of the sale, the director now owns 6,307 shares in the company, valued at $942,265.80. This represents a 99.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 652,549 shares of company stock worth $97,242,271 in the last quarter. 12.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On CAVA Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rhumbline Advisers raised its stake in CAVA Group by 80.5% during the 2nd quarter. Rhumbline Advisers now owns 86,251 shares of the company’s stock worth $8,000,000 after buying an additional 38,471 shares during the period. Arizona State Retirement System raised its position in shares of CAVA Group by 36.3% during the second quarter. Arizona State Retirement System now owns 12,765 shares of the company’s stock worth $1,184,000 after purchasing an additional 3,397 shares during the period. Private Advisor Group LLC lifted its holdings in shares of CAVA Group by 13.6% during the 2nd quarter. Private Advisor Group LLC now owns 38,187 shares of the company’s stock valued at $3,542,000 after purchasing an additional 4,568 shares in the last quarter. PFG Investments LLC acquired a new position in shares of CAVA Group in the 2nd quarter valued at approximately $1,079,000. Finally, Headlands Technologies LLC bought a new stake in CAVA Group during the 2nd quarter worth approximately $37,000. 73.15% of the stock is owned by institutional investors.

About CAVA Group

(Get Free Report)

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.

See Also