CAVA Group (NYSE:CAVA) Price Target Lowered to $140.00 at Citigroup

CAVA Group (NYSE:CAVA) had its price target cut by Citigroup from $163.00 to $140.00 in a report published on Friday,Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts have also issued reports about the stock. UBS Group reduced their target price 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. JPMorgan Chase & Co. lifted their price target on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Piper Sandler increased their price objective on CAVA Group from $100.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Sanford C. Bernstein initiated coverage on CAVA Group in a report on Wednesday, November 20th. They set a “market perform” rating and a $145.00 target price on the stock. Finally, Stifel Nicolaus upped their price target on CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $140.60.

CAVA Group Price Performance

CAVA stock opened at $108.05 on Friday. The stock has a market cap of $12.38 billion, a price-to-earnings ratio of 234.89 and a beta of 3.25. The company has a 50 day simple moving average of $123.05 and a 200 day simple moving average of $125.16. CAVA Group has a 1 year low of $48.55 and a 1 year high of $172.43.

Insider Buying and Selling

In related news, CEO Brett Schulman sold 20,564 shares of the stock in a transaction dated Tuesday, January 21st. The shares were 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 in the company, valued at $92,527,657.42. This trade represents a 2.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Adam David Phillips sold 615 shares of the firm’s 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 $76,499.85. Following the transaction, the chief accounting officer now directly owns 10,884 shares of the company’s stock, valued at $1,353,860.76. This represents a 5.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 651,784 shares of company stock valued at $96,522,922 over the last ninety days. 12.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CAVA. Forum Financial Management LP purchased a new stake in shares of CAVA Group during the 4th quarter valued at about $230,000. Public Employees Retirement System of Ohio lifted its position in CAVA Group by 1.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 27,763 shares of the company’s stock valued at $3,132,000 after purchasing an additional 362 shares during the period. Pinkerton Retirement Specialists LLC purchased a new stake in CAVA Group in the fourth quarter worth approximately $222,000. Castleark Management LLC bought a new stake in CAVA Group in the 4th quarter worth approximately $4,902,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in CAVA Group by 20.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 201,762 shares of the company’s stock worth $22,759,000 after purchasing an additional 34,217 shares during the period. 73.15% of the stock is owned by hedge funds and other institutional investors.

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.