CAVA Group (NYSE:CAVA) Stock Price Down 6.3% – Time to Sell?

CAVA Group, Inc. (NYSE:CAVA) shares traded down 6.3% during mid-day trading on Wednesday . The stock traded as low as $124.57 and last traded at $124.88. 655,244 shares were traded during trading, a decline of 66% from the average session volume of 1,926,359 shares. The stock had previously closed at $133.31.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Loop Capital upped their price target on CAVA Group from $122.00 to $147.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Sanford C. Bernstein started coverage on CAVA Group in a research note on Wednesday, November 20th. They issued a “market perform” rating and a $145.00 target price on the stock. Wedbush increased their target price on CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Stifel Nicolaus increased their target price on CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, TD Cowen increased their target price on CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.13.

CAVA Group Stock Down 9.6 %

The company has a market capitalization of $13.81 billion, a P/E ratio of 262.05 and a beta of 3.25. The firm has a fifty day simple moving average of $123.55 and a 200-day simple moving average of $124.68.

Insider Buying and Selling

In related news, insider Theodoros Xenohristos sold 851 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total transaction of $101,422.18. Following the completion of the transaction, the insider now directly owns 358,995 shares in the company, valued at approximately $42,785,024.10. This trade represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Tricia K. Tolivar sold 2,086 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total value of $248,609.48. Following the completion of the transaction, the chief financial officer now owns 235,592 shares of the company’s stock, valued at approximately $28,077,854.56. This represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 651,784 shares of company stock worth $96,522,922. 12.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio grew its stake in CAVA Group by 1.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 27,763 shares of the company’s stock valued at $3,132,000 after purchasing an additional 362 shares in the last quarter. Pinkerton Retirement Specialists LLC acquired a new stake in shares of CAVA Group in the fourth quarter valued at approximately $222,000. Castleark Management LLC acquired a new stake in shares of CAVA Group in the fourth quarter valued at approximately $4,902,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of CAVA Group by 20.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 201,762 shares of the company’s stock valued at $22,759,000 after buying an additional 34,217 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC acquired a new stake in shares of CAVA Group in the fourth quarter valued at approximately $1,007,000. 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.