CAVA Group (NYSE:CAVA) Shares Gap Down - Here's Why

Shares of CAVA Group, Inc. (NYSE:CAVA - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $141.38, but opened at $134.35. CAVA Group shares last traded at $134.18, with a volume of 1,498,169 shares.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Citigroup lifted their price objective on CAVA Group from $140.00 to $163.00 and gave the company a "neutral" rating in a research report on Wednesday, November 13th. Piper Sandler upped their price target on CAVA Group from $100.00 to $142.00 and gave the stock a "neutral" rating in a research note on Friday. Stifel Nicolaus raised their price objective on CAVA Group from $118.00 to $175.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Barclays upped their target price on shares of CAVA Group from $113.00 to $142.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 13th. Finally, Wedbush lifted their price target on shares of CAVA Group from $155.00 to $190.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $143.71.

CAVA Group Stock Performance

The stock has a 50-day simple moving average of $131.69 and a two-hundred day simple moving average of $104.72. The firm has a market cap of $15.72 billion, a PE ratio of 295.33 and a beta of 3.23.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.04. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The company had revenue of $243.82 million for the quarter, compared to the consensus estimate of $233.05 million. During the same quarter in the prior year, the firm earned $0.06 earnings per share. The firm's revenue for the quarter was up 38.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Brett Schulman sold 201,504 shares of the business's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the completion of the sale, the chief executive officer now owns 702,590 shares of the company's stock, valued at $88,196,122.70. The trade was a 22.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Tricia K. Tolivar sold 5,000 shares of the company's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.64, for a total value of $628,200.00. Following the completion of the sale, the chief financial officer now owns 292,600 shares of the company's stock, valued at $36,762,264. This trade represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 304,994 shares of company stock valued at $38,310,084 over the last 90 days. Company insiders own 12.10% of the company's stock.

Institutional Trading of CAVA Group

Hedge funds have recently bought and sold shares of the stock. Jamison Private Wealth Management Inc. purchased a new position in shares of CAVA Group during the 2nd quarter valued at about $28,000. Nemes Rush Group LLC purchased a new position in CAVA Group during the second quarter valued at approximately $28,000. Mark Sheptoff Financial Planning LLC bought a new position in shares of CAVA Group in the second quarter worth approximately $36,000. Headlands Technologies LLC purchased a new stake in shares of CAVA Group in the second quarter worth $37,000. Finally, GAMMA Investing LLC increased its stake in shares of CAVA Group by 68.3% in the third quarter. GAMMA Investing LLC now owns 308 shares of the company's stock worth $38,000 after purchasing an additional 125 shares in the last quarter. 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.