Loop Capital Cuts CAVA Group (NYSE:CAVA) Price Target to $100.00

CAVA Group (NYSE:CAVA) had its price target trimmed by Loop Capital from $147.00 to $100.00 in a report issued on Thursday,Benzinga reports. The firm currently has a hold rating on the stock.

A number of other research firms have also recently commented on CAVA. Piper Sandler upped their price target on shares of CAVA Group from $100.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Citigroup dropped their target price on shares of CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. William Blair reaffirmed an “outperform” rating on shares of CAVA Group in a research report on Wednesday. Barclays lowered their price target on CAVA Group from $127.00 to $104.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, Sanford C. Bernstein began coverage on CAVA Group in a report on Wednesday, November 20th. They set a “market perform” rating and a $145.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $131.47.

CAVA Group Price Performance

Shares of NYSE:CAVA opened at $94.98 on Thursday. The firm has a market capitalization of $10.88 billion, a PE ratio of 206.47 and a beta of 3.25. The business has a 50 day simple moving average of $120.73 and a two-hundred day simple moving average of $125.57. CAVA Group has a 1 year low of $56.03 and a 1 year 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $227.40 million for the quarter, compared to the consensus estimate of $223.34 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. Equities research analysts expect that CAVA Group will post 0.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other CAVA Group news, CEO Brett Schulman sold 20,564 shares of CAVA Group stock in a transaction 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 transaction, the chief executive officer now directly owns 776,369 shares of the company’s stock, valued at approximately $92,527,657.42. The trade was a 2.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronald M. Shaich sold 622,549 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $149.40, for a total value of $93,008,820.60. Following the sale, the director now owns 6,307 shares of the company’s stock, valued at approximately $942,265.80. This represents a 99.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 651,784 shares of company stock worth $96,522,922. 12.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CAVA Group

Institutional investors have recently added to or reduced their stakes in the business. Arcadia Investment Management Corp MI purchased a new position in shares of CAVA Group in the 4th quarter valued at approximately $25,000. Allworth Financial LP increased its stake in CAVA Group by 369.2% during the 4th quarter. Allworth Financial LP now owns 244 shares of the company’s stock valued at $30,000 after purchasing an additional 192 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of CAVA Group by 274.0% in the fourth quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock worth $31,000 after buying an additional 200 shares during the last quarter. Whittier Trust Co. lifted its stake in shares of CAVA Group by 80.9% during the fourth quarter. Whittier Trust Co. now owns 284 shares of the company’s stock worth $32,000 after buying an additional 127 shares during the period. Finally, Signaturefd LLC grew its holdings in shares of CAVA Group by 884.4% during the fourth quarter. Signaturefd LLC now owns 315 shares of the company’s stock valued at $36,000 after buying an additional 283 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

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.