CAVA Group (NYSE:CAVA) Shares Down 1.7%

CAVA Group, Inc. (NYSE:CAVA)’s share price was down 1.7% on Monday . The company traded as low as $120.25 and last traded at $120.48. Approximately 482,374 shares were traded 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.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Loop Capital increased their target price on CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a research report on Monday, August 26th. TD Cowen reaffirmed a “buy” rating and set a $115.00 price objective on shares of CAVA Group in a research note on Thursday, September 12th. Argus raised their price target on shares of CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Barclays increased their price objective on CAVA Group from $72.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Finally, Piper Sandler cut CAVA Group from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $63.00 to $92.00 in a research report on Thursday, May 30th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $111.58.

CAVA Group Trading Up 1.6 %

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

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Thursday, August 22nd. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $219.47 million. During the same quarter last year, the firm earned $0.21 earnings per share. The firm’s quarterly revenue was up 35.1% compared to the same quarter last year. As a group, sell-side analysts forecast that CAVA Group, Inc. will post 0.43 EPS for the current year.

Insider Activity

In related news, Director Theodoros Xenohristos sold 90,000 shares of CAVA Group stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $91.01, for a total value of $8,190,900.00. Following the completion of the sale, the director now directly owns 424,846 shares in the company, valued at approximately $38,665,234.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Tricia K. Tolivar sold 5,949 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $94.47, for a total transaction of $562,002.03. Following the transaction, the chief financial officer now directly owns 297,600 shares of the company’s stock, valued at approximately $28,114,272. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Theodoros Xenohristos sold 90,000 shares of CAVA Group stock in a transaction on Monday, June 24th. The stock was sold at an average price of $91.01, for a total value of $8,190,900.00. Following the completion of the sale, the director now directly owns 424,846 shares of the company’s stock, valued at approximately $38,665,234.46. The disclosure for this sale can be found here. Insiders have sold a total of 400,943 shares of company stock valued at $47,062,986 over the last ninety days.

Institutional Investors Weigh In On CAVA Group

Large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings 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 worth $3,632,000 after buying an additional 184 shares during the last quarter. CWM LLC lifted its holdings in shares of CAVA Group by 101.2% in the first quarter. CWM LLC now owns 505 shares of the company’s stock worth $35,000 after buying an additional 254 shares in the last quarter. Jaffetilchin Investment Partners LLC boosted its position in shares of CAVA Group by 4.2% during the second 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. purchased a new position in CAVA Group during the second quarter valued at $28,000. Finally, Nemes Rush Group LLC bought a new stake in CAVA Group in the 2nd quarter valued at $28,000. 73.15% of the stock is currently owned by institutional investors.

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.