Stifel Nicolaus Cuts CAVA Group (NYSE:CAVA) Price Target to $125.00

CAVA Group (NYSE:CAVA) had its price objective reduced by Stifel Nicolaus from $175.00 to $125.00 in a research note issued to investors on Wednesday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

CAVA has been the subject of several other research reports. JPMorgan Chase & Co. raised CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 target price for the company in a research note on Thursday, March 20th. Robert W. Baird raised their price objective on shares of CAVA Group from $105.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. Piper Sandler upgraded shares of CAVA Group from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $142.00 to $115.00 in a research note on Friday, February 28th. Wedbush reissued an “outperform” rating and set a $150.00 target price on shares of CAVA Group in a research note on Wednesday, February 26th. Finally, Barclays decreased their price target on shares of CAVA Group from $104.00 to $90.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, CAVA Group currently has a consensus rating of “Moderate Buy” and an average target price of $119.88.

CAVA Group Stock Up 0.4%

NYSE CAVA opened at $74.74 on Wednesday. CAVA Group has a twelve month low of $70.00 and a twelve month high of $172.43. The company has a market capitalization of $8.64 billion, a price-to-earnings ratio of 62.29, a PEG ratio of 3.48 and a beta of 2.77. The stock has a fifty day simple moving average of $86.07 and a 200 day simple moving average of $101.51.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Thursday, May 15th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.08. CAVA Group had a net margin of 13.70% and a return on equity of 10.61%. The business had revenue of $331.83 million for the quarter, compared to analysts’ expectations of $327.98 million. During the same quarter in the prior year, the firm posted $0.12 earnings per share. The business’s quarterly revenue was up 28.1% compared to the same quarter last year. Research analysts expect that CAVA Group will post 0.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CAVA Group news, insider Kelly Costanza sold 10,243 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $86.63, for a total value of $887,351.09. Following the completion of the sale, the insider now owns 125,347 shares in the company, valued at approximately $10,858,810.61. This trade represents a 7.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kenneth Robert Bertram sold 2,198 shares of CAVA Group stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $165,201.68. Following the transaction, the insider now directly owns 58,533 shares in the company, valued at approximately $4,399,340.28. This represents a 3.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,951 shares of company stock valued at $5,409,027 in the last three months. 6.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CAVA Group

Several institutional investors have recently added to or reduced their stakes in the stock. Arcadia Investment Management Corp MI purchased a new position in CAVA Group in the fourth quarter valued at about $25,000. Allworth Financial LP raised its holdings in shares of 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 purchasing an additional 192 shares during the period. Larson Financial Group LLC lifted its stake in CAVA Group by 274.0% in the fourth quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock valued at $31,000 after purchasing an additional 200 shares during the last quarter. Whittier Trust Co. lifted its stake in 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 during the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in CAVA Group by 1,400.0% during the first quarter. First Horizon Advisors Inc. now owns 285 shares of the company’s stock valued at $25,000 after purchasing an additional 266 shares during the period. Institutional investors own 73.15% of the company’s stock.

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.