CAVA Group (NYSE:CAVA) Trading Down 1.4%

CAVA Group, Inc. (NYSE:CAVA) fell 1.4% during mid-day trading on Tuesday . The stock traded as low as $126.11 and last traded at $126.48. 456,479 shares were traded during mid-day trading, a decline of 84% from the average session volume of 2,817,736 shares. The stock had previously closed at $128.27.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Jefferies Financial Group upped their price objective on shares of CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a report on Friday, August 23rd. TD Cowen raised their price target on shares of CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Monday. Barclays boosted their price objective on shares of CAVA Group from $72.00 to $95.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. Wedbush lifted their price target on CAVA Group from $100.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Finally, Citigroup increased their price objective on CAVA Group from $93.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $114.15.

CAVA Group Trading Down 1.1 %

The company has a market cap of $14.46 billion, a PE ratio of 310.44 and a beta of 3.34. The company has a fifty day simple moving average of $101.67 and a two-hundred day simple moving average of $85.83.

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

Insider Activity at CAVA Group

In other news, Director Theodoros Xenohristos sold 98,490 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now directly owns 424,846 shares of the company’s stock, valued at approximately $53,432,881.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Tricia K. Tolivar sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.64, for a total transaction of $628,200.00. Following the sale, the chief financial officer now owns 292,600 shares in the company, valued at $36,762,264. The sale was disclosed in a document filed with the SEC, which can be accessed 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 shares were sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the completion of the sale, the director now owns 424,846 shares of the company’s stock, valued at $53,432,881.42. The disclosure for this sale can be found here. Insiders have sold 310,943 shares of company stock valued at $38,872,086 in the last ninety days.

Hedge Funds Weigh In On CAVA Group

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

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.