CAVA Group (NYSE:CAVA) Trading Down 7.3% – What’s Next?

CAVA Group, Inc. (NYSE:CAVA)’s share price traded down 7.3% during mid-day trading on Thursday . The company traded as low as $77.38 and last traded at $76.34. 220,877 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 2,880,996 shares. The stock had previously closed at $82.38.

Analyst Upgrades and Downgrades

A number of analysts have commented on CAVA shares. Piper Sandler raised shares of CAVA Group from a “neutral” rating to an “overweight” rating and cut their price target for the company from $142.00 to $115.00 in a research report on Friday, February 28th. Sanford C. Bernstein started coverage on shares of CAVA Group in a research report on Wednesday, November 20th. They set a “market perform” rating and a $145.00 price target for the company. Loop Capital reduced their price objective on CAVA Group from $147.00 to $100.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Wedbush reaffirmed an “outperform” rating and set a $150.00 price target on shares of CAVA Group in a research report on Wednesday, February 26th. Finally, UBS Group decreased their price objective on CAVA Group from $160.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $131.47.

CAVA Group Stock Down 9.0 %

The stock has a market capitalization of $8.66 billion, a P/E ratio of 162.97 and a beta of 3.58. The company has a fifty day moving average price of $115.66 and a 200-day moving average price of $124.75.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The company had revenue of $227.40 million for the quarter, compared to analysts’ expectations of $223.34 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. As a group, research analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Tricia K. Tolivar sold 2,086 shares of the company’s stock in a transaction 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 sale, the chief financial officer now owns 235,592 shares in the company, valued at $28,077,854.56. This represents a 0.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brett Schulman sold 20,564 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $2,450,817.52. Following the completion of the sale, the chief executive officer now directly owns 776,369 shares of the company’s stock, valued at $92,527,657.42. The trade was a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,235 shares of company stock valued at $3,514,101. 12.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CAVA Group

A number of large investors have recently bought and sold shares of the company. Jennison Associates LLC increased its stake in shares of CAVA Group by 36,658.7% during the fourth quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock worth $277,683,000 after acquiring an additional 2,455,035 shares during the period. Vanguard Group Inc. increased its position in CAVA Group by 20.4% during the 4th quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company’s stock worth $903,709,000 after purchasing an additional 1,357,187 shares during the period. Man Group plc raised its stake in shares of CAVA Group by 563.7% during the 4th quarter. Man Group plc now owns 935,075 shares of the company’s stock worth $105,476,000 after buying an additional 794,187 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of CAVA Group by 121.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock valued at $151,492,000 after buying an additional 669,599 shares during the period. Finally, Barclays PLC boosted its stake in shares of CAVA Group by 116.7% in the fourth quarter. Barclays PLC now owns 84,755 shares of the company’s stock valued at $9,560,000 after buying an additional 591,866 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.