CAVA Group (NYSE:CAVA) Stock Price Down 3.2% on Analyst Downgrade

CAVA Group, Inc. (NYSE:CAVA) dropped 3.2% during trading on Tuesday after Barclays lowered their price target on the stock from $142.00 to $127.00. Barclays currently has an equal weight rating on the stock. CAVA Group traded as low as $114.76 and last traded at $115.11. Approximately 368,320 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 1,891,687 shares. The stock had previously closed at $118.88.

A number of other research firms have also weighed in on CAVA. William Blair reissued an “outperform” rating on shares of CAVA Group in a report on Wednesday, November 13th. Citigroup increased their price objective on shares of CAVA Group from $140.00 to $163.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Loop Capital lifted their target price on shares of CAVA Group from $122.00 to $147.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Morgan Stanley increased their price target on shares of CAVA Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Finally, TD Cowen boosted their price objective on CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CAVA Group has an average rating of “Moderate Buy” and an average target price of $142.13.

Insider Buying and Selling

In related news, Director Ronald M. Shaich sold 622,549 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $149.40, for a total value of $93,008,820.60. Following the sale, the director now directly owns 6,307 shares of the company’s stock, valued at $942,265.80. This trade represents a 99.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Karen Kochevar sold 15,000 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $142.23, for a total transaction of $2,133,450.00. Following the completion of the transaction, the director now directly owns 1,307 shares of the company’s stock, valued at $185,894.61. This trade represents a 91.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 652,549 shares of company stock valued at $97,242,271 over the last quarter. 12.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Nemes Rush Group LLC acquired a new position in CAVA Group in the 2nd quarter worth about $28,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of CAVA Group in the second quarter valued at approximately $36,000. Headlands Technologies LLC bought a new position in CAVA Group in the 2nd quarter valued at approximately $37,000. GAMMA Investing LLC boosted its position in CAVA Group by 68.3% during the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock worth $38,000 after buying an additional 125 shares during the period. Finally, Sunbelt Securities Inc. bought a new stake in shares of CAVA Group in the third quarter worth $50,000. 73.15% of the stock is currently owned by institutional investors and hedge funds.

CAVA Group Price Performance

The company has a market capitalization of $12.91 billion, a P/E ratio of 245.02 and a beta of 3.21. The stock has a 50-day moving average price of $131.70 and a 200-day moving average price of $116.49.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. The company had revenue of $243.82 million for the quarter, compared to analysts’ expectations of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The business’s revenue was up 38.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.06 EPS. Sell-side analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

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.