TD Securities Cuts CAVA Group (NYSE:CAVA) Price Target to $130.00

CAVA Group (NYSE:CAVA) had its price target trimmed by TD Securities from $150.00 to $130.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

CAVA has been the subject of several other reports. Morgan Stanley increased their price objective on CAVA Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. 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. William Blair reissued an “outperform” rating on shares of CAVA Group in a report on Wednesday, November 13th. TD Cowen increased their price objective on CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Robert W. Baird increased their price objective on CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $131.47.

CAVA Group Stock Up 5.4 %

CAVA stock opened at $94.98 on Wednesday. The firm has a market cap of $10.88 billion, a PE ratio of 206.47 and a beta of 3.25. The business has a 50 day moving average of $121.21 and a 200-day moving average of $125.53. CAVA Group has a 12-month low of $56.03 and a 12-month high of $172.43.

CAVA Group (NYSE:CAVA) last released its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business 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%. On average, research analysts expect that CAVA Group will post 0.5 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Adam David Phillips sold 615 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $76,499.85. Following the sale, the chief accounting officer now owns 10,884 shares in the company, valued at approximately $1,353,860.76. This trade represents a 5.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Tricia K. Tolivar sold 2,086 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $248,609.48. Following the completion of the sale, the chief financial officer now owns 235,592 shares in the company, valued at $28,077,854.56. This trade represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 651,784 shares of company stock worth $96,522,922. Corporate insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in CAVA Group by 20.4% during 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 last quarter. FMR LLC lifted its stake in CAVA Group by 14.1% during the fourth quarter. FMR LLC now owns 3,976,353 shares of the company’s stock worth $448,533,000 after purchasing an additional 491,320 shares during the last quarter. Jennison Associates LLC lifted its stake in CAVA Group by 36,658.7% during the fourth quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock worth $277,683,000 after purchasing an additional 2,455,035 shares during the last quarter. Two Sigma Advisers LP lifted its stake in CAVA Group by 17.0% during the third quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock worth $273,820,000 after purchasing an additional 321,800 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in CAVA Group by 33.0% during the fourth quarter. Federated Hermes Inc. now owns 1,464,987 shares of the company’s stock worth $165,243,000 after purchasing an additional 363,814 shares during the last quarter. 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.