CAVA Group (NYSE:CAVA) Shares Down 0.2%

CAVA Group, Inc. (NYSE:CAVA)’s stock price traded down 0.2% during trading on Wednesday . The stock traded as low as $118.79 and last traded at $119.51. 490,188 shares were traded during mid-day trading, a decline of 83% from the average session volume of 2,808,690 shares. The stock had previously closed at $119.73.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Morgan Stanley downgraded shares of CAVA Group from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $90.00 to $110.00 in a research note on Thursday, August 29th. TD Cowen restated a “buy” rating and issued a $115.00 price target on shares of CAVA Group in a research note on Thursday. Citigroup boosted their price target on shares of CAVA Group from $93.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Robert W. Baird boosted their price target on shares of CAVA Group from $105.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Finally, Stifel Nicolaus boosted their price target on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, CAVA Group has a consensus rating of “Moderate Buy” and a consensus price target of $111.58.

CAVA Group Price Performance

The company has a market cap of $14.35 billion, a price-to-earnings ratio of 306.08 and a beta of 3.34. The firm’s 50 day simple moving average is $96.61 and its 200-day simple moving average is $82.16.

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

Insider Buying and Selling at CAVA Group

In other CAVA Group news, insider Kenneth Robert Bertram sold 5,250 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $95.28, for a total value of $500,220.00. Following the completion of the transaction, the insider now owns 67,005 shares in the company, valued at $6,384,236.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Kenneth Robert Bertram sold 5,250 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $95.28, for a total value of $500,220.00. Following the completion of the sale, the insider now directly owns 67,005 shares of the company’s stock, valued at $6,384,236.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Karen Kochevar sold 20,972 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $93.60, for a total transaction of $1,962,979.20. The disclosure for this sale can be found here. Insiders sold 427,165 shares of company stock worth $49,526,186 over the last 90 days.

Institutional Investors Weigh In On CAVA Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Jamison Private Wealth Management Inc. purchased a new position in CAVA Group during the second quarter worth about $28,000. Nemes Rush Group LLC purchased a new position in CAVA Group during the second quarter worth about $28,000. CWM LLC raised its holdings in CAVA Group by 101.2% during the first quarter. CWM LLC now owns 505 shares of the company’s stock worth $35,000 after purchasing an additional 254 shares in the last quarter. Mark Sheptoff Financial Planning LLC purchased a new position in CAVA Group during the second quarter worth about $36,000. Finally, Headlands Technologies LLC purchased a new position in CAVA Group during the second quarter worth about $37,000. 73.15% of the stock is owned by hedge funds and other 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.