Barclays Issues Pessimistic Forecast for CAVA Group (NYSE:CAVA) Stock Price

CAVA Group (NYSE:CAVA) had its price objective dropped by Barclays from $142.00 to $127.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective suggests a potential upside of 11.17% from the company’s previous close.

A number of other equities analysts also recently weighed in on CAVA. William Blair restated an “outperform” rating on shares of CAVA Group in a research note on Wednesday, November 13th. Wedbush boosted their price objective on CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. raised their target price on CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Stifel Nicolaus boosted their price target on shares of CAVA Group from $118.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Piper Sandler raised their price objective 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. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.13.

CAVA Group Trading Up 1.3 %

NYSE CAVA opened at $114.24 on Tuesday. The business has a fifty day simple moving average of $131.70 and a 200 day simple moving average of $116.49. CAVA Group has a 12 month low of $41.56 and a 12 month high of $172.43. The firm has a market capitalization of $13.09 billion, a P/E ratio of 248.35 and a beta of 3.21.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.11 by $0.04. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The company had revenue of $243.82 million during the quarter, compared to the consensus estimate of $233.05 million. During the same quarter in the prior year, the company posted $0.06 earnings per share. The firm’s revenue for the quarter was up 38.9% on a year-over-year basis. As a group, sell-side analysts predict that CAVA Group will post 0.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ronald M. Shaich sold 622,549 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 6,307 shares in the company, valued at approximately $942,265.80. This trade represents a 99.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karen Kochevar sold 15,000 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $142.23, for a total transaction of $2,133,450.00. Following the completion of the transaction, the director now directly owns 1,307 shares in the company, valued at approximately $185,894.61. The trade was a 91.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 652,549 shares of company stock worth $97,242,271 over the last 90 days. Corporate insiders own 12.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. FMR LLC grew its stake in CAVA Group by 0.9% in the 3rd quarter. FMR LLC now owns 3,485,033 shares of the company’s stock worth $431,621,000 after buying an additional 29,668 shares in the last quarter. Two Sigma Advisers LP grew its position in CAVA Group by 17.0% in the third quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock worth $273,820,000 after acquiring an additional 321,800 shares in the last quarter. Lord Abbett & CO. LLC increased its stake in CAVA Group by 1.5% in the third quarter. Lord Abbett & CO. LLC now owns 1,358,250 shares of the company’s stock valued at $168,219,000 after acquiring an additional 19,493 shares during the last quarter. State Street Corp raised its position in CAVA Group by 33.3% during the third quarter. State Street Corp now owns 1,267,333 shares of the company’s stock valued at $156,959,000 after purchasing an additional 316,514 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in CAVA Group by 121.0% during the third quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock worth $151,492,000 after purchasing an additional 669,599 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors.

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.