JPMorgan Chase & Co. Issues Pessimistic Forecast for CAVA Group (NYSE:CAVA) Stock Price

CAVA Group (NYSE:CAVAGet Free Report) had its price target decreased by analysts at JPMorgan Chase & Co. from $115.00 to $95.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 22.30% from the stock’s previous close.

CAVA has been the topic of several other reports. Robert W. Baird boosted their price target on shares of CAVA Group from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, May 16th. Loop Capital reduced their price objective on CAVA Group from $147.00 to $100.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. UBS Group lowered their target price on CAVA Group from $125.00 to $112.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. Barclays cut their price target on CAVA Group from $104.00 to $90.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Finally, Wedbush reiterated an “outperform” rating and set a $150.00 price target on shares of CAVA Group in a report on Wednesday, February 26th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, CAVA Group presently has a consensus rating of “Moderate Buy” and an average target price of $118.94.

View Our Latest Report on CAVA Group

CAVA Group Price Performance

NYSE:CAVA opened at $77.68 on Wednesday. The stock has a market cap of $8.98 billion, a PE ratio of 64.73, a price-to-earnings-growth ratio of 3.46 and a beta of 2.77. CAVA Group has a fifty-two week low of $70.00 and a fifty-two week high of $172.43. The stock’s 50-day moving average is $85.11 and its two-hundred day moving average is $99.57.

CAVA Group (NYSE:CAVAGet Free Report) last announced its quarterly earnings data on Thursday, May 15th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.08. The firm had revenue of $331.83 million for the quarter, compared to the consensus estimate of $327.98 million. CAVA Group had a net margin of 13.70% and a return on equity of 10.61%. The firm’s revenue was up 28.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.12 earnings per share. On average, equities research analysts anticipate that CAVA Group will post 0.5 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Kelly Costanza sold 2,799 shares of CAVA Group stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $75.16, for a total value of $210,372.84. Following the transaction, the insider now directly owns 122,548 shares in the company, valued at approximately $9,210,707.68. The trade was a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Theodoros Xenohristos sold 9,348 shares of CAVA Group stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $94.88, for a total value of $886,938.24. Following the completion of the transaction, the insider now directly owns 353,271 shares in the company, valued at approximately $33,518,352.48. This represents a 2.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,951 shares of company stock valued at $5,409,027 over the last 90 days. 6.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CAVA Group

Several hedge funds have recently modified their holdings of the business. Voya Investment Management LLC grew its position in CAVA Group by 219.5% in the 1st quarter. Voya Investment Management LLC now owns 386,330 shares of the company’s stock worth $33,383,000 after purchasing an additional 265,416 shares during the last quarter. Cim LLC raised its holdings in CAVA Group by 2.6% in the 1st quarter. Cim LLC now owns 9,755 shares of the company’s stock valued at $843,000 after acquiring an additional 247 shares in the last quarter. Strs Ohio bought a new stake in shares of CAVA Group in the 1st quarter worth approximately $766,000. Advisors Capital Management LLC acquired a new stake in shares of CAVA Group during the 1st quarter worth approximately $1,853,000. Finally, Belpointe Asset Management LLC bought a new position in CAVA Group in the first quarter worth $254,000. 73.15% of the stock is owned by institutional investors.

CAVA Group Company Profile

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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.

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Analyst Recommendations for CAVA Group (NYSE:CAVA)

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