CAVA Group (NYSE:CAVA) Price Target Lowered to $71.00 at Piper Sandler

CAVA Group (NYSE:CAVA) had its price objective cut by Piper Sandler from $100.00 to $71.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 37.93% from the company’s previous close.

CAVA has been the subject of several other reports. Bank of America dropped their price target on CAVA Group from $121.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, August 13th. Stifel Nicolaus dropped their price target on CAVA Group from $125.00 to $100.00 and set a “buy” rating for the company in a report on Friday, October 31st. KeyCorp dropped their price target on CAVA Group from $85.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday. TD Cowen dropped their price target on CAVA Group from $80.00 to $67.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Royal Bank Of Canada began coverage on CAVA Group in a report on Wednesday, October 8th. They issued an “outperform” rating and a $80.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $86.45.

CAVA Group Stock Down 0.4%

Shares of NYSE CAVA traded down $0.23 during midday trading on Wednesday, hitting $51.48. 6,198,041 shares of the company’s stock were exchanged, compared to its average volume of 3,896,767. CAVA Group has a 12 month low of $49.62 and a 12 month high of $172.43. The company’s 50 day moving average price is $63.08 and its 200 day moving average price is $76.63. The firm has a market capitalization of $5.97 billion, a PE ratio of 43.26, a price-to-earnings-growth ratio of 3.03 and a beta of 2.47.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, November 4th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). The business had revenue of $292.24 million for the quarter, compared to the consensus estimate of $292.88 million. CAVA Group had a return on equity of 9.83% and a net margin of 12.98%.The business’s revenue was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.15 earnings per share. On average, equities research analysts anticipate that CAVA Group will post 0.5 EPS for the current year.

Institutional Investors Weigh In On CAVA Group

A number of hedge funds and other institutional investors have recently bought and sold shares of CAVA. Bison Wealth LLC bought a new stake in CAVA Group during the 4th quarter worth $208,000. GAMMA Investing LLC grew its position in CAVA Group by 102.4% during the 1st quarter. GAMMA Investing LLC now owns 854 shares of the company’s stock worth $74,000 after acquiring an additional 432 shares during the last quarter. New York State Teachers Retirement System bought a new stake in CAVA Group during the 1st quarter worth $1,070,000. First Horizon Advisors Inc. grew its position in CAVA Group by 1,400.0% during the 1st quarter. First Horizon Advisors Inc. now owns 285 shares of the company’s stock worth $25,000 after acquiring an additional 266 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its position in CAVA Group by 284.2% during the 1st quarter. Teacher Retirement System of Texas now owns 12,530 shares of the company’s stock worth $1,083,000 after acquiring an additional 9,269 shares during the last quarter. Institutional investors own 73.15% of the company’s stock.

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.