CAVA Group (NYSE:CAVA) Stock Price Down 4.1% – Here’s Why

CAVA Group, Inc. (NYSE:CAVA) shares fell 4.1% during trading on Wednesday . The stock traded as low as $80.11 and last traded at $80.9450. 1,249,788 shares traded hands during trading, a decline of 66% from the average session volume of 3,695,000 shares. The stock had previously closed at $84.43.

Wall Street Analysts Forecast Growth

CAVA has been the topic of several analyst reports. Royal Bank Of Canada lifted their target price on CAVA Group from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. UBS Group increased their price target on CAVA Group from $69.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, February 25th. Barclays lifted their price objective on shares of CAVA Group from $52.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 7th. Sanford C. Bernstein upped their price objective on shares of CAVA Group from $75.00 to $84.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Finally, Truist Financial raised their target price on shares of CAVA Group from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $84.04.

CAVA Group Stock Performance

The stock’s 50-day moving average price is $73.05 and its 200-day moving average price is $63.44. The company has a market capitalization of $9.35 billion, a price-to-earnings ratio of 148.70, a P/E/G ratio of 7.43 and a beta of 2.16.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Tuesday, February 24th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The business had revenue of $274.99 million for the quarter, compared to analysts’ expectations of $268.04 million. CAVA Group had a return on equity of 8.43% and a net margin of 5.40%.The company’s revenue was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.05 EPS. Analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Kenneth Robert Bertram sold 994 shares of the firm’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total value of $61,767.16. Following the completion of the transaction, the insider owned 49,122 shares in the company, valued at $3,052,441.08. This trade represents a 1.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kelly Costanza sold 1,707 shares of CAVA Group stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total value of $106,072.98. Following the transaction, the insider directly owned 119,139 shares of the company’s stock, valued at $7,403,297.46. This trade represents a 1.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 39,055 shares of company stock valued at $2,572,303 in the last three months. 12.10% of the stock is owned by insiders.

Hedge Funds Weigh In On CAVA Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC acquired a new stake in shares of CAVA Group in the fourth quarter valued at approximately $25,000. Cornerstone Planning Group LLC raised its position in shares of CAVA Group by 378.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 450 shares of the company’s stock worth $27,000 after purchasing an additional 356 shares during the last quarter. Harbor Investment Advisory LLC raised its position in shares of CAVA Group by 347.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock worth $30,000 after purchasing an additional 400 shares during the last quarter. Toth Financial Advisory Corp lifted its stake in CAVA Group by 656.7% in the 3rd quarter. Toth Financial Advisory Corp now owns 507 shares of the company’s stock valued at $31,000 after buying an additional 440 shares in the last quarter. Finally, Western Pacific Wealth Management LP acquired a new stake in CAVA Group during the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 73.15% of the company’s stock.

About CAVA Group

CAVA Group, Inc (NYSE: CAVA) is a leading fast-casual restaurant company specializing in Mediterranean-inspired cuisine. Operating under the CAVA brand, the company offers customizable bowls, pitas and salads built around a variety of proteins, grains, fresh vegetables and house-made spreads. With a focus on high-quality ingredients and made-to-order preparation, CAVA aims to deliver a casual yet elevated dining experience for dine-in, takeout and catering customers.

Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe’s Kitchen.