TD Securities Lowers CAVA Group (NYSE:CAVA) Price Target to $120.00

CAVA Group (NYSE:CAVA) had its price objective dropped by stock analysts at TD Securities from $130.00 to $120.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Securities’ price objective points to a potential upside of 39.48% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Piper Sandler upgraded CAVA Group from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $142.00 to $115.00 in a research note on Friday, February 28th. Robert W. Baird set a $105.00 target price on CAVA Group and gave the company an “outperform” rating in a report on Monday, April 7th. William Blair restated an “outperform” rating on shares of CAVA Group in a research note on Wednesday, February 26th. JPMorgan Chase & Co. upgraded shares of CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 price objective on the stock in a research note on Thursday, March 20th. Finally, Wedbush restated an “outperform” rating and set a $150.00 target price on shares of CAVA Group in a research report on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $126.94.

CAVA Group Price Performance

CAVA Group stock opened at $86.03 on Monday. CAVA Group has a one year low of $58.22 and a one year high of $172.43. The business’s fifty day moving average is $92.30 and its 200 day moving average is $117.30. The stock has a market capitalization of $9.94 billion, a PE ratio of 187.03 and a beta of 3.33.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $227.40 million for 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%. As a group, sell-side analysts expect that CAVA Group will post 0.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other CAVA Group news, CAO Adam David Phillips sold 615 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $76,499.85. Following the completion of the transaction, the chief accounting officer now directly owns 10,884 shares in the company, valued at $1,353,860.76. This represents a 5.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kenneth Robert Bertram sold 678 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $84,336.42. Following the sale, the insider now directly owns 57,312 shares of the company’s stock, valued at approximately $7,129,039.68. This trade represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,235 shares of company stock worth $3,514,101. Corporate insiders own 12.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CAVA. Arcadia Investment Management Corp MI purchased a new stake in shares of CAVA Group in the fourth quarter worth about $25,000. Allworth Financial LP increased its stake in CAVA Group by 369.2% in the 4th quarter. Allworth Financial LP now owns 244 shares of the company’s stock worth $30,000 after acquiring an additional 192 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of CAVA Group by 274.0% during the 4th quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock worth $31,000 after acquiring an additional 200 shares in the last quarter. Versant Capital Management Inc bought a new position in shares of CAVA Group during the 1st quarter valued at approximately $31,000. Finally, Whittier Trust Co. grew its holdings in shares of CAVA Group by 80.9% in the fourth quarter. Whittier Trust Co. now owns 284 shares of the company’s stock valued at $32,000 after purchasing an additional 127 shares in the last quarter. Institutional investors own 73.15% of the company’s stock.

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.