CAVA Group (NYSE:CAVA) Stock Price Down 6.3% - Should You Sell?

CAVA Group, Inc. (NYSE:CAVA - Get Free Report) traded down 6.3% during mid-day trading on Wednesday . The company traded as low as $124.57 and last traded at $124.88. 655,244 shares were traded during trading, a decline of 66% from the average session volume of 1,926,359 shares. The stock had previously closed at $133.31.

Analysts Set New Price Targets

Several research firms have weighed in on CAVA. William Blair reiterated an "outperform" rating on shares of CAVA Group in a report on Wednesday, November 13th. Piper Sandler upped their price objective on shares of CAVA Group from $100.00 to $142.00 and gave the company a "neutral" rating in a research report on Friday, November 15th. Wedbush lifted their target price on CAVA Group from $155.00 to $190.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Robert W. Baird increased their price target on CAVA Group from $125.00 to $148.00 and gave the stock an "outperform" rating in a report on Monday, November 4th. Finally, Loop Capital lifted their price objective on CAVA Group from $122.00 to $147.00 and gave the company a "hold" rating in a report on Thursday, November 14th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $140.60.

CAVA Group Trading Down 8.9 %

The company has a market capitalization of $12.38 billion, a P/E ratio of 234.89 and a beta of 3.25. The firm's 50 day moving average price is $123.05 and its two-hundred day moving average price is $125.16.

Insider Activity at CAVA Group

In other CAVA Group news, insider Theodoros Xenohristos sold 851 shares of the company's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $101,422.18. Following the sale, the insider now directly owns 358,995 shares of the company's stock, valued at approximately $42,785,024.10. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ronald M. Shaich sold 622,549 shares of CAVA Group stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $149.40, for a total transaction of $93,008,820.60. Following the completion of the transaction, the director now directly owns 6,307 shares of the company's stock, valued at approximately $942,265.80. This trade represents a 99.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 651,784 shares of company stock valued at $96,522,922. Corporate insiders own 12.10% of the company's stock.

Institutional Investors Weigh In On CAVA Group

Institutional investors and hedge funds have recently modified their holdings of the company. Conway Capital Management Inc. acquired a new position in CAVA Group during the third quarter worth approximately $5,524,000. Entropy Technologies LP acquired a new position in shares of CAVA Group during the 4th quarter worth approximately $2,097,000. Empowered Funds LLC bought a new stake in CAVA Group in the 4th quarter valued at $5,007,000. SpiderRock Advisors LLC lifted its holdings in CAVA Group by 8.9% during the 3rd quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company's stock valued at $59,364,000 after purchasing an additional 39,319 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in CAVA Group by 262.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company's stock worth $63,918,000 after purchasing an additional 373,835 shares during the period. 73.15% of the stock is owned by institutional investors.

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.