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CAVA Group, Inc., which operates a chain of restaurants and offers grocery products, has seen significant insider selling, with 652,549 shares sold valued at over $97 million in the last 90 days. Hedge funds have increased their stakes, owning 73.15% of the company, while analysts maintain a "Moderate Buy" rating with an average price target of $143.13. Recently, UBS Group lowered its price target from $160 to $125, indicating a potential upside of 5.25%.
U.S. stock futures dipped slightly as investors awaited the consumer price index data, with the Dow futures down 33 points and S&P 500 futures falling 0.1%. The market experienced a pullback after a strong post-election rally, with analysts noting profit-taking and positioning ahead of key economic reports this week. Notable stock movements included Spotify's 8% rise following user growth and Cava's 14% jump after exceeding earnings expectations, while Skyworks Solutions saw a nearly 2% decline despite an earnings beat.
Cava Group Inc. has raised its full-year sales outlook for the third consecutive quarter, reflecting the strong appeal of fast-casual dining. The Mediterranean chain now anticipates a 13% increase in sales at established restaurants for 2024, up from a previous estimate of 9.5%, as it consistently outperforms Wall Street expectations.
CAVA Group, Inc.
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15:11 07.01.2025
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