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

CAVA Group, Inc. (NYSE:CAVA)’s share price was down 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 traded hands 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.

CAVA has been the topic of a number of other reports. Loop Capital lifted their price objective 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. Piper Sandler boosted their price target on shares of CAVA Group from $100.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. 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 note on Wednesday, November 13th. TD Securities boosted their target price on CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Finally, TD Cowen increased their price target on CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Eight equities research 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 a consensus target price of $142.13.

Insider Buying and Selling

In related news, Director Karen Kochevar sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $142.23, for a total value of $2,133,450.00. Following the transaction, the director now directly owns 1,307 shares in the company, valued at approximately $185,894.61. This represents a 91.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronald M. Shaich sold 622,549 shares of CAVA Group stock in a transaction on Monday, December 9th. The stock was sold at an average price of $149.40, for a total transaction 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 represents a 99.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 652,549 shares of company stock valued at $97,242,271. Company insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On CAVA Group

A number of hedge funds and other institutional investors have recently modified their holdings of CAVA. Nwam LLC boosted its holdings in CAVA Group by 2.6% during the 3rd quarter. Nwam LLC now owns 3,368 shares of the company’s stock valued at $417,000 after acquiring an additional 85 shares during the period. CIBC Asset Management Inc increased its stake in shares of CAVA Group by 3.5% in the third quarter. CIBC Asset Management Inc now owns 3,287 shares of the company’s stock worth $407,000 after buying an additional 110 shares during the period. Farther Finance Advisors LLC raised its holdings in CAVA Group by 6.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,916 shares of the company’s stock valued at $237,000 after buying an additional 113 shares during the last quarter. GAMMA Investing LLC grew its holdings in CAVA Group by 37.0% in the 4th quarter. GAMMA Investing LLC now owns 422 shares of the company’s stock worth $48,000 after acquiring an additional 114 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of CAVA Group by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 39,154 shares of the company’s stock valued at $3,632,000 after acquiring an additional 184 shares during the period. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

CAVA Group Price Performance

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

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

About CAVA Group

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.