CAVA Group (NYSE:CAVA) Price Target Cut to $100.00 by Analysts at Loop Capital

CAVA Group (NYSE:CAVA) had its price objective cut by analysts at Loop Capital from $147.00 to $100.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Loop Capital’s price objective would indicate a potential upside of 10.58% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Citigroup lowered their target price on shares of CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. TD Securities dropped their target price on shares of CAVA Group from $150.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday. TD Cowen increased their price target on shares of CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Piper Sandler upped their price target on CAVA Group from $100.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Finally, Morgan Stanley increased their price objective on CAVA Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. 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 presently has an average rating of “Moderate Buy” and an average price target of $133.27.

CAVA Group Stock Down 8.6 %

Shares of CAVA stock traded down $8.53 during trading hours on Thursday, reaching $90.43. The company’s stock had a trading volume of 4,300,241 shares, compared to its average volume of 2,592,769. The firm’s 50 day simple moving average is $121.75 and its 200-day simple moving average is $125.78. The company has a market capitalization of $10.36 billion, a price-to-earnings ratio of 196.67 and a beta of 3.25. CAVA Group has a fifty-two week low of $54.21 and a fifty-two week high of $172.43.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 EPS 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 analyst estimates of $223.34 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. Sell-side analysts predict that CAVA Group will post 0.5 earnings per share for the current year.

Insider Activity at CAVA Group

In related news, CEO Brett Schulman sold 20,564 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $2,450,817.52. Following the completion of the transaction, the chief executive officer now directly owns 776,369 shares of the company’s stock, valued at $92,527,657.42. This represents a 2.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Adam David Phillips sold 615 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $76,499.85. Following the completion of the sale, the chief accounting officer now owns 10,884 shares in the company, valued at approximately $1,353,860.76. This trade represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 651,784 shares of company stock valued at $96,522,922. Company insiders own 12.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Creative Planning increased its holdings in shares of CAVA Group by 22.6% during the 3rd quarter. Creative Planning now owns 6,185 shares of the company’s stock worth $766,000 after purchasing an additional 1,139 shares during the period. Financial Advocates Investment Management raised its position 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 worth $387,000 after acquiring an additional 349 shares during the last quarter. Gladstone Institutional Advisory LLC raised its stake in shares of 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 buying an additional 3,861 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of CAVA Group by 6.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,916 shares of the company’s stock worth $237,000 after purchasing an additional 113 shares during the last quarter. Finally, Lansing Street Advisors bought a new position in CAVA Group during the 3rd quarter worth approximately $367,000. Institutional investors 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.