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

CAVA Group (NYSE:CAVA) had its price target reduced by investment analysts at TD Securities from $150.00 to $130.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Securities’ target price would suggest a potential upside of 30.66% from the company’s previous close.

A number of other research firms have also issued reports on CAVA. Citigroup dropped their price target on CAVA Group from $163.00 to $140.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. TD Cowen raised their target price on CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Loop Capital boosted their price target on shares of CAVA Group from $122.00 to $147.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. UBS Group dropped their price objective on shares of CAVA Group from $160.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Finally, Stifel Nicolaus lifted their target price on shares of CAVA Group from $118.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $136.40.

CAVA Group Trading Down 4.5 %

NYSE CAVA opened at $99.50 on Wednesday. The stock has a market capitalization of $11.40 billion, a price-to-earnings ratio of 216.29 and a beta of 3.25. The stock has a 50-day moving average of $122.12 and a 200 day moving average of $125.97. CAVA Group has a twelve month low of $50.37 and a twelve month high of $172.43.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The company had revenue of $227.40 million during the quarter, compared to analysts’ expectations of $223.34 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. Equities analysts predict that CAVA Group will post 0.5 EPS for the current fiscal year.

Insider Activity

In other news, CEO Brett Schulman sold 20,564 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total value of $2,450,817.52. Following the sale, the chief executive officer now directly owns 776,369 shares in the company, valued at $92,527,657.42. This represents a 2.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronald M. Shaich sold 622,549 shares of CAVA Group stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $149.40, for a total value of $93,008,820.60. Following the transaction, the director now owns 6,307 shares of the company’s stock, 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 651,784 shares of company stock worth $96,522,922 over the last 90 days. 12.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CAVA Group

Institutional investors have recently made changes to their positions in the stock. Creative Planning lifted its holdings in CAVA Group by 22.6% in the 3rd quarter. Creative Planning now owns 6,185 shares of the company’s stock valued at $766,000 after purchasing an additional 1,139 shares in the last quarter. Financial Advocates Investment Management lifted its stake in shares of CAVA Group by 12.6% during the third quarter. Financial Advocates Investment Management now owns 3,125 shares of the company’s stock valued at $387,000 after buying an additional 349 shares during the period. Gladstone Institutional Advisory LLC boosted its position in CAVA Group by 175.9% during the third quarter. Gladstone Institutional Advisory LLC now owns 6,056 shares of the company’s stock worth $750,000 after acquiring an additional 3,861 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of CAVA Group by 6.3% in the third quarter. Farther Finance Advisors LLC now owns 1,916 shares of the company’s stock valued at $237,000 after purchasing an additional 113 shares during the period. Finally, Lansing Street Advisors purchased a new stake in CAVA Group in the 3rd quarter valued at about $367,000. 73.15% of the stock is owned by institutional investors and hedge funds.

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.