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

CAVA Group (NYSE:CAVA) had its price objective reduced by analysts at Citigroup from $163.00 to $140.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price suggests a potential upside of 28.72% from the stock’s current price.

Several other research firms have also recently commented on CAVA. Robert W. Baird lifted their price target on CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a report on Monday, November 4th. JPMorgan Chase & Co. lifted their price target on CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Sanford C. Bernstein assumed coverage on CAVA Group in a report on Wednesday, November 20th. They issued a “market perform” rating and a $145.00 price target for the company. Barclays lowered their price target on CAVA Group from $142.00 to $127.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Finally, TD Cowen boosted their target price on CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, CAVA Group currently has an average rating of “Moderate Buy” and an average target price of $140.60.

CAVA Group Trading Down 8.3 %

CAVA traded down $9.84 during midday trading on Friday, hitting $108.77. The company’s stock had a trading volume of 2,133,535 shares, compared to its average volume of 2,073,504. The firm has a market cap of $12.46 billion, a P/E ratio of 236.45 and a beta of 3.25. The firm has a 50-day moving average price of $123.37 and a two-hundred day moving average price of $124.97. CAVA Group has a 52-week low of $48.55 and a 52-week high of $172.43.

Insider Buying and Selling

In other CAVA Group news, CEO Brett Schulman sold 20,564 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $2,450,817.52. Following the transaction, the chief executive officer now directly owns 776,369 shares of the company’s stock, valued at $92,527,657.42. This represents a 2.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kenneth Robert Bertram sold 678 shares of the company’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 value of $84,336.42. Following the completion of the transaction, the insider now directly owns 57,312 shares in the company, valued at approximately $7,129,039.68. The trade was a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 651,784 shares of company stock valued at $96,522,922. Corporate insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

A number of institutional investors have recently made changes to their positions in the company. Forum Financial Management LP bought a new stake in shares of CAVA Group in the 4th quarter valued at approximately $230,000. Public Employees Retirement System of Ohio increased its holdings in shares of CAVA Group by 1.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 27,763 shares of the company’s stock valued at $3,132,000 after acquiring an additional 362 shares during the last quarter. Pinkerton Retirement Specialists LLC bought a new stake in shares of CAVA Group in the 4th quarter valued at approximately $222,000. Castleark Management LLC bought a new stake in shares of CAVA Group in the 4th quarter valued at approximately $4,902,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of 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 valued at $22,759,000 after acquiring an additional 34,217 shares during the last quarter. 73.15% of the stock is currently owned by 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.