Bernstein Begins Coverage of CAVA Group with Cautious Outlook
Analyst Price Targets Calculate Downward Potential
Fintel reports that on November 20, 2024, Bernstein initiated coverage of CAVA Group (NYSE:CAVA) with a Market Perform recommendation.
Analyst Price Forecast Indicates 13.69% Decline
As of October 22, 2024, the average one-year price target for CAVA Group is $120.55 per share. This prediction varies, with estimates ranging from a low of $95.95 to a high of $141.75. These average projections reflect a potential decrease of 13.69% compared to its last closing price of $139.66 per share.
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Projected annual revenue for CAVA Group stands at $847 million, marking a decrease of 7.33%. The expected annual non-GAAP EPS is -0.07.
Institutional Investment Trends
What Does Fund Sentiment Look Like?
A total of 794 funds or institutions are currently reporting positions in CAVA Group, which reflects an increase of 119 owners, or 17.63%, over the last quarter. The average portfolio weight across all funds invested in CAVA is 0.36%, showing a rise of 6.16%. Over the past three months, the total shares owned by institutions grew by 0.10%, totaling 100,133K shares. 
The put/call ratio for CAVA is 0.93, indicating a generally bullish sentiment amongst investors.
Artal Group currently holds 17,508K shares, equating to 15.28% ownership of the company. In its previous filing, the firm reported ownership of 23,508K shares, signifying a 34.27% decrease. However, it increased its portfolio allocation in CAVA by 63.76% last quarter.
SMCWX – SmallCap World Fund Inc. now holds 7,458K shares, which represents 6.51% ownership. Previously, this firm possessed 7,772K shares, amounting to a 4.21% decrease. Yet, it raised its allocation in CAVA by 31.02% in the last quarter.
D.E. Shaw holds 5,146K shares of CAVA, giving it a 4.49% ownership stake. This is up from 3,482K shares previously, representing a notable 32.33% increase in ownership. The firm enhanced its CAVA portfolio allocation by 81.12% over the last three months.
Capital Research Global Investors currently owns 3,789K shares, which amounts to 3.31% ownership. In its last filing, the firm reported owning 4,941K shares, showing a 30.38% decrease and a slight drop in portfolio allocation by 2.99% over the past quarter.
BlackRock holds 3,573K shares, representing 3.12% ownership of the company.
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This story originally appeared on Fintel.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
