CAVA Group (NYSE:CAVA) Stock Price Down 3.2% on Analyst Downgrade

CAVA Group, Inc. (NYSE:CAVA)’s share price was down 3.2% during mid-day 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. Approximately 368,320 shares changed hands during trading, a decline of 81% from the average daily volume of 1,891,687 shares. The stock had previously closed at $118.88.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley boosted their price objective on shares of CAVA Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Citigroup raised their price objective on CAVA Group from $140.00 to $163.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. TD Securities lifted their target price on CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Wedbush increased their price target on CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Robert W. Baird lifted their price objective on CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $143.13.

Insider Buying and Selling

In related news, Director Ronald M. Shaich sold 622,549 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $149.40, for a total value of $93,008,820.60. Following the completion of the transaction, the director now directly owns 6,307 shares of the company’s stock, valued at approximately $942,265.80. This trade represents a 99.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karen Kochevar sold 15,000 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 1,307 shares in the company, valued at $182,980. This trade represents a 91.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 652,549 shares of company stock worth $97,242,271. 12.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CAVA. Commonwealth Equity Services LLC grew its holdings in CAVA Group by 4.9% during the second quarter. Commonwealth Equity Services LLC now owns 53,443 shares of the company’s stock worth $4,957,000 after purchasing an additional 2,478 shares during the period. Van ECK Associates Corp bought a new stake in CAVA Group in the 2nd quarter valued at $533,000. CIBC Asset Management Inc acquired a new stake in CAVA Group during the 2nd quarter valued at $295,000. Rhumbline Advisers boosted its position in CAVA Group by 80.5% during the second quarter. Rhumbline Advisers now owns 86,251 shares of the company’s stock worth $8,000,000 after purchasing an additional 38,471 shares during the period. Finally, Arizona State Retirement System increased its holdings in shares of CAVA Group by 36.3% in the second quarter. Arizona State Retirement System now owns 12,765 shares of the company’s stock valued at $1,184,000 after purchasing an additional 3,397 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

CAVA Group Price Performance

The company’s 50-day moving average price is $132.20 and its two-hundred day moving average price is $116.35. The company has a market capitalization of $13.04 billion, a P/E ratio of 247.41 and a beta of 3.21.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $243.82 million during the quarter, compared to the consensus estimate of $233.05 million. During the same period last year, the business posted $0.06 earnings per share. The business’s revenue for the quarter was up 38.9% compared to the same quarter last year. On average, analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

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.