CAVA Group (NYSE:CAVA) Shares Down 3.2% After Analyst Downgrade

Shares of CAVA Group, Inc. (NYSE:CAVA - Get Free Report) dropped 3.2% during mid-day trading on Tuesday after Barclays lowered their price target on the stock from $142.00 to $127.00. Barclays currently has an equal weight rating on the stock. CAVA Group traded as low as $114.76 and last traded at $115.11. Approximately 368,320 shares were traded during trading, a decline of 81% from the average daily volume of 1,891,687 shares. The stock had previously closed at $118.88.

Several other equities research analysts also recently issued reports on the company. UBS Group cut their price target on CAVA Group from $160.00 to $125.00 and set a "neutral" rating for the company in a report on Tuesday. William Blair reaffirmed an "outperform" rating on shares of CAVA Group in a report on Wednesday, November 13th. Loop Capital raised their price objective on shares of CAVA Group from $122.00 to $147.00 and gave the stock a "hold" rating in a research report on Thursday, November 14th. Sanford C. Bernstein began coverage on CAVA Group in a research report on Wednesday, November 20th. They issued a "market perform" rating and a $145.00 target price on the stock. Finally, TD Cowen lifted their price target on CAVA Group from $130.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, CAVA Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $142.13.

Insider Buying and Selling at CAVA Group

In other news, 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 in the company, valued at $942,265.80. This trade represents a 99.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Karen Kochevar sold 15,000 shares of CAVA Group stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $142.23, for a total value of $2,133,450.00. Following the transaction, the director now owns 1,307 shares of the company's stock, valued at $185,894.61. This trade represents a 91.99 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 652,549 shares of company stock valued at $97,242,271. Corporate insiders own 12.10% of the company's stock.

Hedge Funds Weigh In On CAVA Group

Several large investors have recently bought and sold shares of CAVA. Geode Capital Management LLC raised its holdings in shares of CAVA Group by 121.0% in the third quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company's stock valued at $151,492,000 after purchasing an additional 669,599 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of CAVA Group by 102.5% during the 2nd quarter. Renaissance Technologies LLC now owns 892,400 shares of the company's stock worth $82,770,000 after buying an additional 451,800 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of CAVA Group by 262.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company's stock worth $63,918,000 after buying an additional 373,835 shares during the last quarter. Two Sigma Advisers LP increased its position in shares of CAVA Group by 17.0% during the third quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company's stock valued at $273,820,000 after acquiring an additional 321,800 shares during the last quarter. Finally, State Street Corp lifted its holdings in CAVA Group by 33.3% during the third quarter. State Street Corp now owns 1,267,333 shares of the company's stock worth $156,959,000 after acquiring an additional 316,514 shares during the period. 73.15% of the stock is currently owned by institutional investors.

CAVA Group Stock Down 5.2 %

The firm has a market cap of $12.91 billion, a PE ratio of 245.02 and a beta of 3.21. The company has a 50-day simple moving average of $132.20 and a two-hundred day simple moving average of $116.35.

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

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.