CAVA Group (NYSE:CAVA) Downgraded to Neutral on Piper Sandler

Piper Sandler cut shares CAVA Group (NYSE:CAVA – Free Report) from an “overweight” rating to a “neutral” rating – according to the Marketbeat Ratings report published on Thursday. The company currently has a $92.00 price target for the stock, up from the previous price target of $63.00.

Other analysts have also recently published research reports on the stock. JPMorgan Chase & Co. raised their target price on shares of CAVA Group from $50.00 to $64.00 and gave the stock an overperform rating in a report on Tuesday, March 19th. Citigroup raised their target price on shares of CAVA Group from $60.00 to $81.00 and gave the company a Neutral rating in a research report on Tuesday, May 21st. Jefferies Financial Group raised their price target on shares of CAVA Group from $72.00 to $94.00 and gave the stock a buy rating in a research report on Wednesday. TD Cowen raised their price target on shares of CAVA Group from $73.00 to $90.00 and gave the stock a buy rating in a research report on Wednesday. Finally, William Blair reissued a rating on shares of CAVA Group in a research note on Tuesday, February 27th. Five investment analysts rated the company’s shares with a hold rating and nine with a buy rating. According to MarketBeat.com, the company currently has a Moderate Buy consensus rating and a consensus price target of $80.00.

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CAVA Group share results

CAVA shares opened at $93.18 on Thursday. The company has a market capitalization of $10.62 billion and a P/E ratio of 227.27. CAVA Group has a 52-week low of $29.05 and a 52-week high of $96.93. The company’s 50-day simple moving average is $70.84 and its 200-day simple moving average is $54.92.

CAVA Group (NYSE:CAVA – Get Free Report) last released its quarterly earnings data on Tuesday, May 28th. The company reported $0.12 earnings per share (EPS) for the quarter, $0.08 above analyst consensus estimates of $0.04. The company had revenue of $259.01 million for the quarter, compared to the consensus estimate of $246.02 million. The CAVA Group achieved a net margin of 3.75% and a return on equity of 5.21%. The company’s quarterly revenues increased by 27.5% compared to the same quarter last year. As a group, stock market analysts forecast that the CAVA Group will record earnings per share of 0.25 for the current year.

Buying and selling confidential information in the CAVA Group

In related news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $57.20, for a total transaction amount of $85,800,000.00. Following the transaction, the insider now directly owns 4,457,634 shares of the company’s stock valued at $254,976,664.80. The transaction was disclosed in a document filed with the Securities and Exchange Commission, which can be accessed through the SEC’s website. In related news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $57.20, for a total transaction amount of $85,800,000.00. Following the transaction, the insider now directly owns 4,457,634 shares of the company’s stock valued at $254,976,664.80. The transaction was disclosed in a document filed with the Securities and Exchange Commission, which can be accessed through the SEC’s website. Additionally, Director International SCA Artal sold 2,000,000 shares of the company in a transaction on Thursday, March 21st. The shares were sold at an average price of $66.25, for a total transaction amount of $132,500,000.00. Following the transaction, the director now directly owns 26,507,990 shares of the company’s stock valued at $1,756,154,337.50. The announcement of this sale can be found here. Over the last three months, insiders sold 3,547,239 shares of company stock worth $221,525,951.

CAVA Group Institutional Trading

Large investors have recently increased or decreased their holdings in the stock. CWM LLC increased its holdings in shares of CAVA Group by 101.2% in the first quarter. CWM LLC now owns 505 shares of the company’s stock valued at $35,000 after purchasing an additional 254 shares in the last quarter. During the fourth quarter, Montag A & Associates Inc. acquired a new position in CAVA Group shares worth approximately USD 26,000. American International Group Inc. increased its stake in CAVA Group shares by 194.2% in the first quarter. American International Group Inc. now owns 709 shares of the company’s stock valued at $50,000 after purchasing an additional 468 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of CAVA Group during the 3rd quarter worth approximately $26,000. Ultimately, in the third quarter, PNC Financial Services Group Inc. increased its shares in CAVA Group shares by 190.0%. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock valued at $27,000 after purchasing an additional 570 shares in the last quarter. Hedge funds and other institutional investors hold 73.15% of the company’s shares.

About the CAVA Group

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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 in grocery stores. Additionally, the company provides online and mobile ordering platforms. Cava Group, Inc. was founded in 2006 and is headquartered in Washington, District of Columbia.

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