CAVA Group (NYSE:CAVA) Given New $67.00 Price Target at TD Cowen

CAVA Group (NYSE:CAVA) had its price objective lowered by TD Cowen from $80.00 to $67.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts also recently issued research reports about the company. Argus set a $76.00 price target on CAVA Group in a research report on Tuesday, September 2nd. Mizuho raised shares of CAVA Group to a “hold” rating in a research note on Tuesday, October 28th. The Goldman Sachs Group started coverage on shares of CAVA Group in a research note on Monday, October 20th. They issued a “neutral” rating and a $74.00 price target for the company. Cfra Research raised shares of CAVA Group to a “strong-buy” rating in a report on Thursday, August 14th. Finally, Bank of America lowered their price objective on shares of CAVA Group from $121.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $82.55.

CAVA Group Price Performance

CAVA opened at $50.49 on Wednesday. The firm has a market capitalization of $5.85 billion, a P/E ratio of 43.53, a price-to-earnings-growth ratio of 2.98 and a beta of 2.47. CAVA Group has a one year low of $49.62 and a one year high of $172.43. The company has a fifty day moving average price of $62.73 and a 200-day moving average price of $76.44.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). CAVA Group had a return on equity of 9.02% and a net margin of 12.14%.The business had revenue of $292.24 million during the quarter, compared to analysts’ expectations of $292.88 million. During the same quarter last year, the business posted $0.15 EPS. The company’s quarterly revenue was up 19.9% on a year-over-year basis. On average, analysts expect that CAVA Group will post 0.5 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Jennison Associates LLC lifted its stake in shares of CAVA Group by 246.1% in the 1st quarter. Jennison Associates LLC now owns 8,519,459 shares of the company’s stock valued at $736,166,000 after acquiring an additional 6,057,727 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in CAVA Group by 114.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,394,561 shares of the company’s stock worth $206,915,000 after acquiring an additional 1,277,912 shares during the last quarter. Vanguard Group Inc. increased its stake in CAVA Group by 13.2% in the 1st quarter. Vanguard Group Inc. now owns 9,065,782 shares of the company’s stock worth $783,374,000 after purchasing an additional 1,054,180 shares during the period. Nuveen LLC bought a new stake in CAVA Group in the first quarter valued at approximately $72,800,000. Finally, Alliancebernstein L.P. boosted its stake in shares of CAVA Group by 2,072.1% during the first quarter. Alliancebernstein L.P. now owns 852,691 shares of the company’s stock valued at $73,681,000 after purchasing an additional 813,434 shares during the period. 73.15% of the stock is 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.