CAVA Group (NYSE:CAVA) Trading Down 1.7%

CAVA Group, Inc. (NYSE:CAVA)’s stock price traded down 1.7% during mid-day trading on Monday . The company traded as low as $120.25 and last traded at $120.48. 482,374 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 2,806,294 shares. The stock had previously closed at $122.51.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CAVA shares. Barclays raised their price objective on shares of CAVA Group from $72.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. TD Cowen restated a “buy” rating and set a $115.00 price target on shares of CAVA Group in a research report on Thursday. Jefferies Financial Group lifted their price objective on shares of CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Citigroup raised their target price on CAVA Group from $93.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Finally, JPMorgan Chase & Co. raised their price objective on CAVA Group from $77.00 to $90.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, CAVA Group presently has an average rating of “Moderate Buy” and a consensus target price of $111.58.

CAVA Group Stock Performance

The company has a market capitalization of $14.03 billion, a PE ratio of 293.85 and a beta of 3.34. The stock’s 50-day simple moving average is $97.16 and its 200 day simple moving average is $83.02.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Thursday, August 22nd. The company reported $0.17 EPS for the quarter, topping 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 firm had revenue of $233.50 million for the quarter, compared to analyst estimates of $219.47 million. During the same period last year, the business earned $0.21 EPS. CAVA Group’s revenue for the quarter was up 35.1% compared to the same quarter last year. On average, analysts expect that CAVA Group, Inc. will post 0.43 earnings per share for the current year.

Insider Buying and Selling at CAVA Group

In other news, CEO Brett Schulman sold 201,504 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.53, for a total value of $25,294,797.12. Following the completion of the transaction, the chief executive officer now owns 702,590 shares in the company, valued at approximately $88,196,122.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Brett Schulman sold 201,504 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the sale, the chief executive officer now owns 702,590 shares in the company, valued at $88,196,122.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Theodoros Xenohristos sold 90,000 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $91.01, for a total transaction of $8,190,900.00. Following the transaction, the director now owns 424,846 shares in the company, valued at $38,665,234.46. The disclosure for this sale can be found here. Insiders sold a total of 406,193 shares of company stock valued at $47,563,206 in the last ninety days.

Institutional Investors Weigh In On CAVA Group

A number of institutional investors have recently added to or reduced their stakes in the company. Swiss National Bank acquired a new position in shares of CAVA Group in the 4th quarter valued at about $1,926,000. Charles Schwab Investment Management Inc. grew its stake in CAVA Group by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 124,035 shares of the company’s stock worth $5,331,000 after buying an additional 2,287 shares during the period. Jump Financial LLC increased its position in shares of CAVA Group by 26.9% in the fourth quarter. Jump Financial LLC now owns 8,900 shares of the company’s stock worth $383,000 after acquiring an additional 1,889 shares in the last quarter. Principal Financial Group Inc. purchased a new position in shares of CAVA Group in the 4th quarter valued at $2,518,000. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of CAVA Group by 46.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 22,947 shares of the company’s stock valued at $986,000 after acquiring an additional 7,263 shares in the last quarter. Hedge funds and other institutional investors 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.