CAVA Group (NYSE:CAVA) Trading Down 1.7%

Shares of CAVA Group, Inc. (NYSE:CAVA) were down 1.7% during trading on Friday . The company traded as low as $114.66 and last traded at $114.67. Approximately 420,287 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 2,811,006 shares. The stock had previously closed at $116.71.

Wall Street Analyst Weigh In

A number of analysts have commented on CAVA shares. Jefferies Financial Group increased 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. Robert W. Baird increased their price target on shares of CAVA Group from $105.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. TD Cowen increased their price target on shares of CAVA Group from $95.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Morgan Stanley cut shares of CAVA Group from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $90.00 to $110.00 in a research note on Thursday, August 29th. Finally, Loop Capital increased their price target on shares of CAVA Group from $80.00 to $122.00 and gave the company a “hold” rating in a research note on Monday, August 26th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.75.

CAVA Group Stock Performance

The stock has a market cap of $13.11 billion, a PE ratio of 279.68 and a beta of 3.27. The stock’s 50-day moving average is $93.50 and its two-hundred day moving average is $79.51.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Thursday, August 22nd. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. The firm had revenue of $233.50 million during the quarter, compared to analysts’ expectations of $219.47 million. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. The firm’s quarterly revenue was up 35.1% on a year-over-year basis. During the same quarter last year, the company posted $0.21 EPS. Analysts forecast that CAVA Group, Inc. will post 0.43 EPS for the current year.

Insiders Place Their Bets

In other CAVA Group news, Director Theodoros Xenohristos sold 98,490 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the sale, the director now directly owns 424,846 shares in the company, valued at approximately $53,432,881.42. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Brett Schulman sold 201,504 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now directly owns 702,590 shares in the company, valued at approximately $88,196,122.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Theodoros Xenohristos sold 98,490 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the completion of the sale, the director now owns 424,846 shares in the company, valued at $53,432,881.42. The disclosure for this sale can be found here. Insiders have sold a total of 493,579 shares of company stock worth $55,510,751 in the last ninety days.

Institutional Investors Weigh In On CAVA Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Jamison Private Wealth Management Inc. acquired a new stake in shares of CAVA Group in the 2nd quarter valued at $28,000. Nemes Rush Group LLC acquired a new stake in shares of CAVA Group in the 2nd quarter valued at $28,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of CAVA Group in the 2nd quarter valued at $36,000. Headlands Technologies LLC acquired a new stake in shares of CAVA Group in the 2nd quarter valued at $37,000. Finally, Mather Group LLC. acquired a new stake in shares of CAVA Group in the 2nd quarter valued at $45,000. 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.