CAVA Group (NYSE:CAVA) Shares Down 0.2%

CAVA Group, Inc. (NYSE:CAVA)’s share price traded down 0.2% during mid-day trading on Friday . The stock traded as low as $124.50 and last traded at $125.20. 645,842 shares were traded during mid-day trading, a decline of 77% from the average session volume of 2,806,804 shares. The stock had previously closed at $125.47.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Loop Capital raised their target price on shares of CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a research report on Monday, August 26th. Piper Sandler downgraded CAVA Group from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $63.00 to $92.00 in a report on Thursday, May 30th. Stifel Nicolaus lifted their target price on CAVA Group from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Barclays increased their price target on CAVA Group from $72.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Finally, Argus lifted their price objective on CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, CAVA Group presently has an average rating of “Moderate Buy” and an average price target of $111.58.

CAVA Group Price Performance

The firm has a market capitalization of $14.01 billion, a P/E ratio of 298.81 and a beta of 3.34. The stock’s fifty day simple moving average is $97.16 and its 200 day simple moving average is $82.84.

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

Insider Activity

In related news, CFO Tricia K. Tolivar sold 5,000 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.64, for a total transaction of $628,200.00. Following the transaction, the chief financial officer now directly owns 292,600 shares in the company, valued at approximately $36,762,264. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Karen Kochevar sold 20,972 shares of CAVA Group stock in a transaction on Monday, June 17th. The shares were sold at an average price of $93.60, for a total transaction of $1,962,979.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Tricia K. Tolivar sold 5,000 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.64, for a total transaction of $628,200.00. Following the sale, the chief financial officer now directly owns 292,600 shares in the company, valued at $36,762,264. The disclosure for this sale can be found here. In the last quarter, insiders sold 427,165 shares of company stock worth $49,526,186.

Institutional Trading of CAVA Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jamison Private Wealth Management Inc. purchased a new position in shares of CAVA Group in the second quarter worth about $28,000. Nemes Rush Group LLC acquired a new position in CAVA Group in the 2nd quarter worth approximately $28,000. CWM LLC raised its position in CAVA Group by 101.2% during the 1st quarter. CWM LLC now owns 505 shares of the company’s stock worth $35,000 after buying an additional 254 shares during the last quarter. Mark Sheptoff Financial Planning LLC acquired a new stake in CAVA Group during the 2nd quarter valued at approximately $36,000. Finally, Headlands Technologies LLC purchased a new stake in shares of CAVA Group in the 2nd quarter valued at $37,000. Institutional investors and hedge funds own 73.15% of the company’s stock.

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.