CAVA Group (NYSE:CAVA) Stock Gets Price Target Reduction from KeyCorp

CAVA Group (NYSE:CAVA) had its price target cut by KeyCorp from $95.00 to $80.00 in a research note released on Friday,Benzinga reports. They currently have an overweight rating on the stock.

CAVA has been the topic of a number of other reports. UBS Group decreased their price target on CAVA Group from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday. TD Cowen dropped their price objective on shares of CAVA Group from $85.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, October 21st. Weiss Ratings raised shares of CAVA Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Compass Point upgraded shares of CAVA Group to a “neutral” rating in a report on Monday, September 14th. Finally, JPMorgan Chase & Co. cut their price objective on shares of CAVA Group from $85.00 to $80.00 and set an “overweight” rating on the stock in a report on Friday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $87.35.

CAVA Group Stock Up 0.1%

Shares of CAVA Group stock opened at $53.52 on Friday. CAVA Group has a fifty-two week low of $43.41 and a fifty-two week high of $98.79. The business’s fifty day moving average is $58.02 and its two-hundred day moving average is $70.98. The firm has a market cap of $6.25 billion, a PE ratio of 97.31, a P/E/G ratio of 4.14 and a beta of 1.80.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $368.44 million during the quarter, compared to the consensus estimate of $360.09 million. CAVA Group had a return on equity of 8.28% and a net margin of 4.82%. The business’s revenue for the quarter was up 31.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.16 earnings per share. Equities research analysts anticipate that CAVA Group will post 0.55 EPS for the current year.

CAVA Group declared that its board has authorized a share buyback program on Friday, September 18th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 1.7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at CAVA Group

In other news, insider Douglas Thompson acquired 6,500 shares of the stock in a transaction on Monday, August 31st. The stock was bought at an average price of $66.52 per share, with a total value of $432,380.00. Following the completion of the transaction, the insider directly owned 19,371 shares of the company’s stock, valued at $1,288,558.92. The trade was a 50.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 6.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Ancora Advisors LLC purchased a new position in shares of CAVA Group in the second quarter valued at $27,000. FNY Investment Advisers LLC acquired a new stake in CAVA Group during the 2nd quarter valued at $31,000. Philadelphia Investment Partners LLC acquired a new stake in CAVA Group during the 2nd quarter valued at $33,000. CX Institutional acquired a new stake in CAVA Group during the 3rd quarter valued at $26,000. Finally, Scarborough Advisors LLC purchased a new stake in CAVA Group during the 1st quarter worth $54,000. 73.15% of the stock is owned by institutional investors and hedge funds.

Key CAVA Group News

Here are the key news stories impacting CAVA Group this week:

• Positive Sentiment: KeyCorp remains bullish: The firm lowered its price target from $95 to $80 but maintained an “overweight” rating, implying substantial upside from recent levels. KeyCorp lowers CAVA price target while maintaining overweight rating
• Positive Sentiment: Analyst targets remain well above the market price: A separate report cited an average price target of $88.62, suggesting analysts still see meaningful long-term appreciation potential. CAVA average analyst price target
• Neutral Sentiment: Investor attention has increased: CAVA is attracting heightened interest from Zacks users, which may increase trading activity but does not by itself change the company’s fundamentals. CAVA attracts investor attention
• Negative Sentiment: TD Cowen issued a pessimistic forecast: The firm’s outlook adds to concerns about CAVA’s valuation and future growth, contributing to the recent weakness. TD Cowen pessimistic forecast for CAVA
• Negative Sentiment: Citigroup cut its target and turned neutral: Citi reduced its price target from $79 to $66 and assigned a “neutral” rating, signaling less confidence in near-term upside. Citigroup lowers CAVA price target
• Negative Sentiment: Analyst downgrades are driving the decline: Reports directly linked CAVA’s recent stock weakness to an analyst downgrade, increasing pressure on the shares. CAVA stock falls following analyst downgrade

About CAVA Group

CAVA Group, Inc operates CAVA, a fast-casual restaurant brand serving Mediterranean-inspired food in the United States. Its menu includes customizable bowls and pitas, salads, dips, spreads, grilled proteins, and other Mediterranean dishes, with options designed to accommodate a range of dietary preferences.

The company’s restaurants generally use an assembly-line format that allows customers to build meals from a selection of ingredients and sauces. CAVA also offers its branded dips, spreads, and other products through select grocery and retail channels, extending the brand beyond its restaurant locations.

CAVA was founded in 2010 by Dimitri Moshovitis, Ike Grigoropoulos, and Ted Xenohristos.