CAVA Group (NYSE:CAVA) Stock Price Down 4.8% – Time to Sell?

CAVA Group, Inc. (NYSE:CAVA)’s stock price dropped 4.8% on Monday . The company traded as low as $46.70 and last traded at $46.5590. Approximately 2,890,051 shares changed hands during trading, a decline of 27% from the average daily volume of 3,964,956 shares. The stock had previously closed at $48.92.

Wall Street Analysts Forecast Growth

CAVA has been the topic of several research analyst reports. KeyCorp reduced their price objective on CAVA Group from $85.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Piper Sandler dropped their target price on CAVA Group from $100.00 to $71.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Sanford C. Bernstein reduced their price objective on shares of CAVA Group from $100.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. Barclays lowered their price target on CAVA Group from $64.00 to $52.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th. Finally, Bank of America cut their price target on CAVA Group from $121.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $81.75.

CAVA Group Trading Down 4.2%

The firm has a market capitalization of $5.44 billion, a PE ratio of 88.94, a PEG ratio of 2.77 and a beta of 2.48. The firm’s fifty day moving average price is $57.92 and its 200 day moving average price is $72.30.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). The company had revenue of $292.24 million for the quarter, compared to analyst estimates of $292.88 million. CAVA Group had a net margin of 12.14% and a return on equity of 8.88%. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same quarter last year, the business earned $0.15 EPS. As a group, research analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current year.

Institutional Trading of CAVA Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CAVA. Vanguard Group Inc. grew its holdings in CAVA Group by 3.5% during the third quarter. Vanguard Group Inc. now owns 9,345,976 shares of the company’s stock valued at $564,590,000 after purchasing an additional 313,938 shares during the period. Capital Research Global Investors boosted its position in shares of CAVA Group by 28.5% during the third quarter. Capital Research Global Investors now owns 6,634,866 shares of the company’s stock worth $400,801,000 after purchasing an additional 1,469,758 shares in the last quarter. Capital International Investors grew its holdings in shares of CAVA Group by 105.4% in the 3rd quarter. Capital International Investors now owns 4,228,736 shares of the company’s stock valued at $255,451,000 after buying an additional 2,169,553 shares during the period. Alliancebernstein L.P. increased its position in shares of CAVA Group by 118.3% in the 3rd quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company’s stock valued at $178,432,000 after buying an additional 1,600,630 shares in the last quarter. Finally, State Street Corp increased its position in shares of CAVA Group by 5.0% in the 2nd quarter. State Street Corp now owns 2,543,335 shares of the company’s stock valued at $214,225,000 after buying an additional 122,163 shares in the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

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.