CAVA Group (NYSE:CAVA) Trading Down 3.2% After Analyst Downgrade

CAVA Group, Inc. (NYSE:CAVA)’s stock price fell 3.2% during trading on Tuesday after UBS Group lowered their price target on the stock from $160.00 to $125.00. UBS Group currently has a neutral rating on the stock. CAVA Group traded as low as $114.76 and last traded at $115.11. 368,320 shares were traded during trading, a decline of 81% from the average session volume of 1,891,687 shares. The stock had previously closed at $118.88.

A number of other equities analysts also recently commented on CAVA. Loop Capital lifted their target price on CAVA Group from $122.00 to $147.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. boosted their target price on CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Morgan Stanley raised their price objective on CAVA Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Citigroup increased their price objective on CAVA Group from $140.00 to $163.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Finally, TD Securities lifted their target price on shares of CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $143.13.

Insider Activity at CAVA Group

In other news, Director Ronald M. Shaich sold 622,549 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $149.40, for a total value of $93,008,820.60. Following the completion of the sale, the director now directly owns 6,307 shares in the company, valued at approximately $942,265.80. This trade represents a 99.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Karen Kochevar sold 15,000 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $140.00, for a total transaction of $2,100,000.00. Following the transaction, the director now owns 1,307 shares in the company, valued at approximately $182,980. This trade represents a 91.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 652,549 shares of company stock valued at $97,242,271 in the last ninety days. Insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Conway Capital Management Inc. bought a new position in CAVA Group in the 3rd quarter worth approximately $5,524,000. SpiderRock Advisors LLC raised its position in shares of CAVA Group by 8.9% during the third quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock worth $59,364,000 after acquiring an additional 39,319 shares during the last quarter. Xponance Inc. lifted its stake in shares of CAVA Group by 95.2% during the second quarter. Xponance Inc. now owns 9,846 shares of the company’s stock valued at $913,000 after acquiring an additional 4,803 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in CAVA Group by 262.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock valued at $63,918,000 after acquiring an additional 373,835 shares during the last quarter. Finally, PFG Investments LLC increased its position in CAVA Group by 36.8% in the third quarter. PFG Investments LLC now owns 15,907 shares of the company’s stock worth $1,970,000 after purchasing an additional 4,275 shares during the period. Institutional investors and hedge funds own 73.15% of the company’s stock.

CAVA Group Stock Performance

The company has a market capitalization of $13.04 billion, a price-to-earnings ratio of 247.41 and a beta of 3.21. The business’s 50-day simple moving average is $132.20 and its 200-day simple moving average is $116.35.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.04. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The business had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. During the same period in the prior year, the business posted $0.06 earnings per share. CAVA Group’s revenue was up 38.9% compared to the same quarter last year. On average, 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.