CAVA Group (NYSE:CAVA) Given New $65.00 Price Target at KeyCorp

CAVA Group (NYSE:CAVA) had its target price reduced by analysts at KeyCorp from $85.00 to $65.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s target price would indicate a potential upside of 25.20% from the company’s previous close.

Several other analysts also recently commented on CAVA. Sanford C. Bernstein reiterated an “outperform” rating on shares of CAVA Group in a research report on Wednesday. Bank of America reduced their price target on shares of CAVA Group from $121.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, August 13th. The Goldman Sachs Group began coverage on shares of CAVA Group in a research report on Monday, October 20th. They issued a “neutral” rating and a $74.00 price target for the company. Citigroup reduced their price target on shares of CAVA Group from $102.00 to $88.00 and set a “neutral” rating for the company in a research report on Wednesday, August 13th. Finally, Melius began coverage on shares of CAVA Group in a research report on Monday, July 14th. They issued a “hold” rating and a $95.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $88.20.

CAVA Group Trading Down 1.3%

Shares of CAVA Group stock opened at $51.92 on Wednesday. The company has a fifty day simple moving average of $63.08 and a 200-day simple moving average of $76.63. CAVA Group has a 12-month low of $51.33 and a 12-month high of $172.43. The stock has a market cap of $6.02 billion, a price-to-earnings ratio of 43.63, a PEG ratio of 3.03 and a beta of 2.47.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, November 4th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). CAVA Group had a net margin of 12.98% and a return on equity of 9.83%. The company had revenue of $292.24 million during the quarter, compared to analyst estimates of $292.88 million. During the same quarter in the previous year, the company posted $0.15 EPS. The company’s quarterly revenue was up 19.9% on a year-over-year basis. On average, analysts forecast that CAVA Group will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CAVA Group

Large investors have recently bought and sold shares of the company. First Horizon Advisors Inc. raised its position in CAVA Group by 1,400.0% during the 1st quarter. First Horizon Advisors Inc. now owns 285 shares of the company’s stock worth $25,000 after buying an additional 266 shares during the last quarter. Vision Financial Markets LLC acquired a new position in shares of CAVA Group during the 1st quarter worth $26,000. Dagco Inc. acquired a new position in shares of CAVA Group during the 1st quarter worth $27,000. Cornerstone Planning Group LLC grew its stake in shares of CAVA Group by 378.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock worth $27,000 after purchasing an additional 356 shares during the period. Finally, Atlantic Union Bankshares Corp acquired a new position in shares of CAVA Group during the 2nd quarter worth $31,000. Hedge funds and other 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.