CAVA Group (NYSE:CAVA) Stock Price Down 1.7%

CAVA Group, Inc. (NYSE:CAVA)’s share price was down 1.7% during mid-day trading on Monday . The stock traded as low as $120.25 and last traded at $120.48. Approximately 482,374 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 2,806,294 shares. The stock had previously closed at $122.51.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CAVA shares. Loop Capital increased their price objective on shares of CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a research report on Monday, August 26th. Citigroup lifted their price target on CAVA Group from $93.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Piper Sandler cut CAVA Group from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $63.00 to $92.00 in a research report on Thursday, May 30th. Jefferies Financial Group increased their price objective on CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Barclays boosted their target price on CAVA Group from $72.00 to $95.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $111.58.

CAVA Group Stock Performance

The company has a market capitalization of $14.19 billion, a P/E ratio of 303.66 and a beta of 3.34. The stock’s 50 day moving average price is $98.36 and its 200 day moving average price is $83.93.

CAVA Group (NYSE:CAVA) last released its earnings results on Thursday, August 22nd. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. The company had revenue of $233.50 million for the quarter, compared to the consensus estimate of $219.47 million. During the same quarter in the previous year, the company earned $0.21 EPS. CAVA Group’s quarterly revenue was up 35.1% compared to the same quarter last year. On average, analysts expect that CAVA Group, Inc. will post 0.43 earnings per share for the current fiscal year.

Insider Buying and Selling at CAVA Group

In related news, CFO Tricia K. Tolivar sold 5,000 shares of CAVA Group stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.64, for a total value of $628,200.00. Following the completion of the sale, the chief financial officer now owns 292,600 shares of the company’s stock, valued at approximately $36,762,264. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Tricia K. Tolivar sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.64, for a total value of $628,200.00. Following the transaction, the chief financial officer now owns 292,600 shares of the company’s stock, valued at approximately $36,762,264. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Theodoros Xenohristos sold 98,490 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.77, for a total value of $12,387,087.30. Following the sale, the director now directly owns 424,846 shares of the company’s stock, valued at $53,432,881.42. The disclosure for this sale can be found here. Over the last quarter, insiders sold 400,943 shares of company stock valued at $47,062,986.

Institutional Trading of CAVA Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in CAVA Group by 215.7% in the 1st quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock valued at $346,330,000 after buying an additional 3,377,840 shares during the last quarter. Capital Research Global Investors increased its stake in shares of CAVA Group by 249.5% during the 4th quarter. Capital Research Global Investors now owns 4,369,281 shares of the company’s stock worth $187,792,000 after purchasing an additional 3,119,281 shares during the last quarter. 1832 Asset Management L.P. raised its holdings in shares of CAVA Group by 79.5% in the 4th quarter. 1832 Asset Management L.P. now owns 2,248,400 shares of the company’s stock worth $96,636,000 after purchasing an additional 995,800 shares during the period. Artemis Investment Management LLP purchased a new position in CAVA Group in the first quarter valued at approximately $38,225,000. Finally, Lord Abbett & CO. LLC grew its holdings in CAVA Group by 55.9% during the first quarter. Lord Abbett & CO. LLC now owns 1,373,749 shares of the company’s stock valued at $96,231,000 after purchasing an additional 492,667 shares during the period. Hedge funds and other institutional investors own 73.15% of the company’s stock.

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.