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

CAVA Group (NYSE:CAVA) had its price target dropped by stock analysts at TD Securities from $150.00 to $130.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Securities’ price target points to a potential upside of 44.41% from the stock’s current price.

A number of other brokerages have also commented on CAVA. Morgan Stanley raised their target price on shares of CAVA Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Piper Sandler raised their target price on shares of CAVA Group from $100.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Stifel Nicolaus raised their target price on shares of CAVA Group from $118.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. William Blair reaffirmed an “outperform” rating on shares of CAVA Group in a research report on Wednesday, November 13th. Finally, UBS Group cut their price objective on shares of CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.27.

CAVA Group Stock Down 9.0 %

CAVA opened at $90.02 on Wednesday. CAVA Group has a 52 week low of $54.21 and a 52 week high of $172.43. The firm has a 50-day simple moving average of $121.75 and a two-hundred day simple moving average of $125.78. The company has a market capitalization of $10.31 billion, a PE ratio of 195.69 and a beta of 3.25.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data 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). CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The firm had revenue of $227.40 million during the quarter, compared to analysts’ expectations of $223.34 million. As a group, sell-side analysts expect that CAVA Group will post 0.5 earnings per share for the current year.

Insider Transactions at CAVA Group

In other 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 transaction of $2,450,817.52. Following the completion of the sale, the chief executive officer now directly owns 776,369 shares in the company, 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 filing with the SEC, which is accessible through the SEC website. Also, Director Ronald M. Shaich sold 622,549 shares of CAVA Group stock in a transaction on Monday, December 9th. The stock was sold at an average price of $149.40, for a total transaction of $93,008,820.60. Following the sale, the director now owns 6,307 shares of the company’s stock, valued at $942,265.80. The trade was a 99.00 % decrease in their ownership of the stock. 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. Company insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

Several institutional investors and hedge funds have recently made changes to their positions in CAVA. Arcadia Investment Management Corp MI acquired a new stake in shares of CAVA Group during the fourth quarter worth $25,000. Allworth Financial LP raised its holdings in shares of CAVA Group by 369.2% during the fourth quarter. Allworth Financial LP now owns 244 shares of the company’s stock worth $30,000 after purchasing 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 fourth quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock worth $31,000 after purchasing an additional 200 shares during the last quarter. Whittier Trust Co. raised its holdings 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 purchasing an additional 127 shares during the last quarter. Finally, Signaturefd LLC raised 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 worth $36,000 after purchasing an additional 283 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

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.