Barclays Has Lowered Expectations for CAVA Group (NYSE:CAVA) Stock Price

CAVA Group (NYSE:CAVA - Get Free Report) had its target price cut by investment analysts at Barclays from $142.00 to $127.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Barclays's price objective suggests a potential upside of 12.68% from the stock's current price.

Several other brokerages also recently weighed in on CAVA. TD Cowen lifted their target price on shares of CAVA Group from $130.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. William Blair reiterated an "outperform" rating on shares of CAVA Group in a research note on Wednesday, November 13th. Argus raised their price objective on shares of CAVA Group from $104.00 to $128.00 and gave the company a "buy" rating in a research note on Wednesday, September 11th. Morgan Stanley raised their price objective on shares of CAVA Group from $123.00 to $135.00 and gave the company an "equal weight" rating in a research note on Thursday, November 14th. Finally, JPMorgan Chase & Co. raised their price objective on shares of CAVA Group from $90.00 to $110.00 and gave the company a "neutral" rating in a research note on Wednesday, November 13th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $142.13.

CAVA Group Stock Performance

CAVA Group stock traded down $6.17 during midday trading on Tuesday, hitting $112.71. 3,105,519 shares of the company's stock were exchanged, compared to its average volume of 2,597,501. CAVA Group has a 12-month low of $40.05 and a 12-month high of $172.43. The stock has a market cap of $12.91 billion, a price-to-earnings ratio of 245.02 and a beta of 3.21. The firm's 50 day simple moving average is $132.20 and its 200 day simple moving average is $116.35.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.04. The company had revenue of $243.82 million for the quarter, compared to the consensus estimate of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. CAVA Group's revenue for the quarter was up 38.9% on a year-over-year basis. During the same period last year, the firm posted $0.06 EPS. On average, equities research analysts forecast that CAVA Group will post 0.5 EPS for the current fiscal year.

Insider Transactions at CAVA Group

In related news, Director Karen Kochevar sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $142.23, for a total value of $2,133,450.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronald M. Shaich sold 622,549 shares of the business'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 transaction of $93,008,820.60. Following the completion of the sale, the director now owns 6,307 shares of the company's stock, valued at approximately $942,265.80. The trade was a 99.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 652,549 shares of company stock worth $97,242,271 over the last ninety days. 12.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CAVA Group

Institutional investors have recently bought and sold shares of the business. Conway Capital Management Inc. acquired a new position in shares of CAVA Group during the third quarter worth $5,524,000. SpiderRock Advisors LLC lifted its position in shares of CAVA Group by 8.9% during the third quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company's stock worth $59,364,000 after purchasing an additional 39,319 shares in the last quarter. Xponance Inc. lifted its position in shares of CAVA Group by 95.2% during the second quarter. Xponance Inc. now owns 9,846 shares of the company's stock worth $913,000 after purchasing an additional 4,803 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of CAVA Group by 262.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company's stock worth $63,918,000 after purchasing an additional 373,835 shares in the last quarter. Finally, PFG Investments LLC lifted its position in shares of CAVA Group by 36.8% during the third quarter. PFG Investments LLC now owns 15,907 shares of the company's stock worth $1,970,000 after purchasing an additional 4,275 shares in the last quarter. 73.15% of the stock is currently owned by hedge funds and other 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.