CAVA Group (NYSE:CAVA) Sees Large Volume Increase – Time to Buy?

CAVA Group, Inc. (NYSE:CAVA) shares saw unusually-strong trading volume on Wednesday . Approximately 2,679,924 shares changed hands during mid-day trading, an increase of 14% from the previous session’s volume of 2,359,758 shares.The stock last traded at $97.22 and had previously closed at $99.30.

Analysts Set New Price Targets

Several research firms recently commented on CAVA. Citigroup reduced their price target on CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. Barclays reduced their price objective on CAVA Group from $127.00 to $104.00 and set an “equal weight” rating for the company in a research report on Wednesday. TD Securities cut their price target on CAVA Group from $150.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday. JPMorgan Chase & Co. upped their price target on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Finally, Wedbush restated an “outperform” rating and set a $150.00 target price on shares of CAVA Group in a report on Wednesday. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $136.40.

CAVA Group Stock Performance

The stock has a market cap of $11.43 billion, a PE ratio of 216.63 and a beta of 3.25. The stock has a 50 day moving average of $122.12 and a two-hundred day moving average of $125.97.

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

Insider Activity at CAVA Group

In related news, Director Ronald M. Shaich sold 622,549 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $149.40, for a total value of $93,008,820.60. Following the completion of the sale, the director now directly owns 6,307 shares in the company, valued at $942,265.80. The trade was a 99.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 value of $76,499.85. Following the sale, the chief accounting officer now directly owns 10,884 shares in the company, valued at approximately $1,353,860.76. This trade represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 651,784 shares of company stock worth $96,522,922 in the last quarter. Corporate insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On CAVA Group

Several large investors have recently bought and sold shares of the stock. Liberty Square Wealth Partners LLC bought a new stake in CAVA Group during the 4th quarter valued at $203,000. Forum Financial Management LP purchased a new position in CAVA Group during the 4th quarter valued at $230,000. Public Employees Retirement System of Ohio lifted its position in CAVA Group by 1.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 27,763 shares of the company’s stock valued at $3,132,000 after buying an additional 362 shares during the period. Pinkerton Retirement Specialists LLC bought a new position in CAVA Group during the 4th quarter valued at approximately $222,000. Finally, Castleark Management LLC bought a new stake in CAVA Group in the 4th quarter worth about $4,902,000. 73.15% of the stock is currently owned by institutional investors.

About CAVA Group

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.