CAVA Group (NYSE:CAVA) Price Target Lowered to $140.00 at Citigroup

CAVA Group (NYSE:CAVA) had its price objective cut by Citigroup from $163.00 to $140.00 in a report published on Friday,Benzinga reports. They currently have a neutral rating on the stock.

Several other brokerages also recently weighed in on CAVA. JPMorgan Chase & Co. lifted their price target on shares of CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Stifel Nicolaus lifted their target price on shares of CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. William Blair reiterated an “outperform” rating on shares of CAVA Group in a research note on Wednesday, November 13th. Loop Capital raised their price target on CAVA Group from $122.00 to $147.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Finally, Morgan Stanley upped their price objective on CAVA Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, CAVA Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.60.

CAVA Group Stock Down 8.9 %

CAVA stock opened at $108.05 on Friday. The business’s 50-day moving average price is $123.05 and its 200-day moving average price is $125.16. The stock has a market cap of $12.38 billion, a P/E ratio of 234.89 and a beta of 3.25. CAVA Group has a twelve month low of $48.55 and a twelve month high of $172.43.

Insider Activity at CAVA Group

In other news, insider Kenneth Robert Bertram sold 678 shares of CAVA Group stock in a transaction that occurred on Monday, January 27th. The stock was 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 owns 57,312 shares in the company, valued at approximately $7,129,039.68. The trade was a 1.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Tricia K. Tolivar sold 2,086 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total value of $248,609.48. Following the transaction, the chief financial officer now directly owns 235,592 shares in the company, valued at approximately $28,077,854.56. This represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 651,784 shares of company stock valued at $96,522,922 over the last 90 days. 12.10% of the stock is owned by corporate insiders.

Institutional Trading of CAVA Group

A number of institutional investors have recently bought and sold shares of CAVA. Forum Financial Management LP bought a new position in CAVA Group during the fourth quarter valued at $230,000. Public Employees Retirement System of Ohio boosted its stake in shares of CAVA Group by 1.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 27,763 shares of the company’s stock worth $3,132,000 after purchasing an additional 362 shares during the period. Pinkerton Retirement Specialists LLC purchased a new position in shares of CAVA Group during the 4th quarter worth about $222,000. Castleark Management LLC bought a new position in CAVA Group during the 4th quarter valued at about $4,902,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in 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 worth $22,759,000 after purchasing an additional 34,217 shares during the period. 73.15% of the stock is currently owned by institutional investors.

CAVA Group Company Profile

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.