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

CAVA Group (NYSE:CAVA) had its target price reduced by Piper Sandler from $100.00 to $71.00 in a research report report published on Wednesday, MarketBeat.com reports. They currently have an overweight rating on the stock.

Several other research analysts have also issued reports on the stock. Royal Bank Of Canada assumed coverage on shares of CAVA Group in a research report on Wednesday, October 8th. They issued an “outperform” rating and a $80.00 price target on the stock. Citigroup decreased their target price on CAVA Group from $102.00 to $88.00 and set a “neutral” rating on the stock in a report on Wednesday, August 13th. Bank of America cut their target price on CAVA Group from $121.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, August 13th. UBS Group reduced their target price on CAVA Group from $75.00 to $61.00 and set a “neutral” rating for the company in a report on Monday. Finally, Barclays dropped their price target on CAVA Group from $64.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $82.55.

CAVA Group Trading Up 4.3%

Shares of CAVA Group stock opened at $48.58 on Wednesday. CAVA Group has a 52 week low of $45.57 and a 52 week high of $172.43. The stock has a market cap of $5.63 billion, a PE ratio of 41.88, a price-to-earnings-growth ratio of 2.64 and a beta of 2.47. The company’s 50-day moving average price is $61.91 and its two-hundred day moving average price is $76.01.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). CAVA Group had a return on equity of 8.88% and a net margin of 12.14%.The business had revenue of $292.24 million during the quarter, compared to analyst estimates of $292.88 million. During the same period in the prior year, the firm earned $0.15 EPS. The business’s revenue for the quarter was up 19.9% on a year-over-year basis. On average, equities analysts predict that CAVA Group will post 0.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CAVA. Quadcap Wealth Management LLC boosted its stake in shares of CAVA Group by 1.4% during the 2nd quarter. Quadcap Wealth Management LLC now owns 8,966 shares of the company’s stock valued at $755,000 after buying an additional 124 shares during the period. McDonough Capital Management Inc increased its stake in shares of CAVA Group by 4.7% in the second quarter. McDonough Capital Management Inc now owns 2,910 shares of the company’s stock worth $245,000 after acquiring an additional 131 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of CAVA Group by 37.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 530 shares of the company’s stock worth $46,000 after acquiring an additional 144 shares in the last quarter. Tsfg LLC raised its holdings in shares of CAVA Group by 19.1% during the second quarter. Tsfg LLC now owns 937 shares of the company’s stock worth $79,000 after acquiring an additional 150 shares in the last quarter. Finally, Baltimore Washington Financial Advisors Inc. boosted its position in CAVA Group by 5.6% during the second quarter. Baltimore Washington Financial Advisors Inc. now owns 2,810 shares of the company’s stock valued at $237,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds 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.