CAVA Group (NYSE:CAVA) Shares Down 2.9%

CAVA Group, Inc. (NYSE:CAVA) traded down 2.9% during mid-day trading on Friday . The company traded as low as $121.89 and last traded at $123.40. 1,037,791 shares traded hands during trading, a decline of 63% from the average session volume of 2,805,322 shares. The stock had previously closed at $127.12.

Analysts Set New Price Targets

Several brokerages have recently commented on CAVA. Barclays upped their target price on shares of CAVA Group from $72.00 to $95.00 and gave the stock an “equal weight” rating in a report on Friday, August 23rd. UBS Group initiated coverage on shares of CAVA Group in a research note on Friday. They set a “neutral” rating and a $135.00 price objective on the stock. Stifel Nicolaus lifted their target price on shares of CAVA Group from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Robert W. Baird raised their price target on CAVA Group from $105.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Finally, Piper Sandler cut CAVA Group from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $63.00 to $92.00 in a report on Thursday, May 30th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $115.64.

CAVA Group Price Performance

The firm has a market capitalization of $14.23 billion, a P/E ratio of 300.98 and a beta of 3.34. The stock’s 50 day moving average is $104.31 and its two-hundred day moving average is $86.85.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings results 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. CAVA Group had a return on equity of 7.37% and a net margin of 5.04%. 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 prior year, the business posted $0.21 EPS. The firm’s quarterly revenue was up 35.1% on a year-over-year basis. As a group, equities research analysts expect that CAVA Group, Inc. will post 0.43 EPS for the current year.

Insider Buying and Selling at CAVA Group

In related news, Director Theodoros Xenohristos sold 98,490 shares of CAVA Group 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 transaction, the director now owns 424,846 shares of the company’s stock, valued at approximately $53,432,881.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other CAVA Group news, CEO Brett Schulman sold 201,504 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.53, for a total value of $25,294,797.12. Following the completion of the sale, the chief executive officer now directly owns 702,590 shares in the company, valued at $88,196,122.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Theodoros Xenohristos sold 98,490 shares of CAVA Group stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.77, for a total value of $12,387,087.30. Following the transaction, the director now owns 424,846 shares in the company, valued at approximately $53,432,881.42. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 310,943 shares of company stock valued at $38,872,086.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in shares of CAVA Group by 0.5% during the second quarter. Dimensional Fund Advisors LP now owns 39,154 shares of the company’s stock worth $3,632,000 after buying an additional 184 shares during the period. CWM LLC boosted its position in CAVA Group by 101.2% during the 1st quarter. CWM LLC now owns 505 shares of the company’s stock worth $35,000 after acquiring an additional 254 shares during the last quarter. Jaffetilchin Investment Partners LLC boosted its position in CAVA Group by 4.2% during the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 6,907 shares of the company’s stock worth $641,000 after acquiring an additional 278 shares during the last quarter. Jamison Private Wealth Management Inc. bought a new position in shares of CAVA Group during the 2nd quarter worth approximately $28,000. Finally, Nemes Rush Group LLC acquired a new stake in shares of CAVA Group in the second quarter valued at approximately $28,000. Institutional investors and hedge funds 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.