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

CAVA Group (NYSE:CAVA) had its target price cut by UBS Group from $125.00 to $112.00 in a report released on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

CAVA has been the subject of several other reports. Robert W. Baird set a $105.00 target price on CAVA Group and gave the company an “outperform” rating in a report on Monday, April 7th. Barclays lowered their target price on CAVA Group from $104.00 to $90.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Sanford C. Bernstein raised CAVA Group from a “market perform” rating to an “outperform” rating and set a $115.00 target price for the company in a report on Wednesday, April 23rd. William Blair reaffirmed an “outperform” rating on shares of CAVA Group in a report on Wednesday, February 26th. Finally, Wedbush reaffirmed an “outperform” rating and set a $150.00 target price on shares of CAVA Group in a report on Wednesday, February 26th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, CAVA Group presently has a consensus rating of “Moderate Buy” and an average price target of $123.38.

CAVA Group Stock Up 1.0%

Shares of CAVA Group stock opened at $99.77 on Tuesday. The firm has a market cap of $11.54 billion, a P/E ratio of 216.89 and a beta of 3.28. CAVA Group has a fifty-two week low of $70.00 and a fifty-two week high of $172.43. The business has a 50-day moving average price of $86.70 and a 200 day moving average price of $112.64.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The firm had revenue of $227.40 million during the quarter, compared to the consensus estimate of $223.34 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. As a group, equities research analysts anticipate that CAVA Group will post 0.5 earnings per share for the current year.

Insider Buying and Selling

In other CAVA Group news, insider Theodoros Xenohristos sold 9,348 shares of the company’s stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $94.88, for a total value of $886,938.24. Following the completion of the sale, the insider now directly owns 353,271 shares in the company, valued at $33,518,352.48. This represents a 2.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

A number of institutional investors have recently added to or reduced their stakes in CAVA. Jennison Associates LLC lifted its position in CAVA Group by 246.1% in the first quarter. Jennison Associates LLC now owns 8,519,459 shares of the company’s stock worth $736,166,000 after purchasing an additional 6,057,727 shares during the period. Vanguard Group Inc. lifted its position in CAVA Group by 20.4% in the fourth quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company’s stock worth $903,709,000 after purchasing an additional 1,357,187 shares during the period. Nuveen LLC acquired a new stake in CAVA Group in the first quarter worth approximately $72,800,000. Man Group plc lifted its position in CAVA Group by 563.7% in the fourth quarter. Man Group plc now owns 935,075 shares of the company’s stock worth $105,476,000 after purchasing an additional 794,187 shares during the period. Finally, Barclays PLC lifted its position in CAVA Group by 116.7% in the fourth quarter. Barclays PLC now owns 84,755 shares of the company’s stock worth $9,560,000 after purchasing an additional 591,866 shares during the period. 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.