CAVA Group (NYSE:CAVA) Stock Price Down 6.3% – Time to Sell?

CAVA Group, Inc. (NYSE:CAVA) shares dropped 6.3% on Wednesday . The company traded as low as $124.57 and last traded at $124.88. Approximately 655,244 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 1,926,359 shares. The stock had previously closed at $133.31.

Analyst Upgrades and Downgrades

CAVA has been the topic of a number of analyst reports. Robert W. Baird lifted their price target on CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. TD Cowen lifted their price target on CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Wedbush lifted their price target on CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Stifel Nicolaus lifted their price target on CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. lifted their price target on CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $142.13.

CAVA Group Stock Down 9.6 %

The business has a 50-day simple moving average of $123.55 and a two-hundred day simple moving average of $124.68. The stock has a market capitalization of $13.81 billion, a P/E ratio of 262.05 and a beta of 3.25.

Insider Buying and Selling at CAVA Group

In other news, CAO Adam David Phillips sold 615 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $76,499.85. Following the sale, the chief accounting officer now owns 10,884 shares in the company, valued at approximately $1,353,860.76. This represents a 5.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Theodoros Xenohristos sold 851 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $101,422.18. Following the sale, the insider now owns 358,995 shares in the company, valued at $42,785,024.10. The trade was a 0.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 651,784 shares of company stock worth $96,522,922 over the last three months. Company insiders own 12.10% of the company’s stock.

Institutional Trading of CAVA Group

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of CAVA Group by 20.4% during the fourth 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 last quarter. FMR LLC lifted its stake in shares of CAVA Group by 14.1% during the fourth quarter. FMR LLC now owns 3,976,353 shares of the company’s stock valued at $448,533,000 after acquiring an additional 491,320 shares during the period. Jennison Associates LLC lifted 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 valued at $277,683,000 after acquiring an additional 2,455,035 shares during the period. Two Sigma Advisers LP lifted its stake in shares of CAVA Group by 17.0% during the third quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock valued at $273,820,000 after acquiring an additional 321,800 shares during the period. Finally, Federated Hermes Inc. lifted its stake in shares of CAVA Group by 33.0% during the fourth quarter. Federated Hermes Inc. now owns 1,464,987 shares of the company’s stock valued at $165,243,000 after acquiring an additional 363,814 shares during the period. 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.