CAVA Group (NYSE:CAVA) Stock Price Down 6.3% Following Analyst Downgrade

Shares of CAVA Group, Inc. (NYSE:CAVA - Get Free Report) were down 6.3% on Monday after Barclays lowered their price target on the stock from $104.00 to $90.00. Barclays currently has an equal weight rating on the stock. CAVA Group traded as low as $81.75 and last traded at $80.60. Approximately 212,614 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 3,102,445 shares. The stock had previously closed at $86.00.

Several other equities research analysts have also commented on the stock. TD Securities dropped their price objective on shares of CAVA Group from $130.00 to $120.00 and set a "buy" rating on the stock in a research note on Monday. Wedbush reissued an "outperform" rating and set a $150.00 price objective on shares of CAVA Group in a report on Wednesday, February 26th. Robert W. Baird set a $105.00 target price on shares of CAVA Group and gave the stock an "outperform" rating in a report on Monday, April 7th. Citigroup cut their price objective on CAVA Group from $163.00 to $140.00 and set a "neutral" rating for the company in a report on Friday, February 21st. Finally, Loop Capital dropped their price objective on shares of CAVA Group from $147.00 to $100.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $124.19.

Insider Buying and Selling at CAVA Group

In related news, CAO Adam David Phillips sold 615 shares of the business's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $76,499.85. Following the transaction, the chief accounting officer now directly owns 10,884 shares in the company, valued at $1,353,860.76. The trade was a 5.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Tricia K. Tolivar sold 1,505 shares of the company's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $187,206.95. Following the transaction, the chief financial officer now owns 234,087 shares in the company, valued at $29,118,081.93. The trade was a 0.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,734 shares of company stock worth $713,252 over the last 90 days. Company insiders own 12.10% of the company's stock.

Institutional Trading of CAVA Group

Several large investors have recently added to or reduced their stakes in CAVA. Sovran Advisors LLC grew its position in CAVA Group by 101.9% during the 1st quarter. Sovran Advisors LLC now owns 47,190 shares of the company's stock worth $4,058,000 after purchasing an additional 23,817 shares during the period. Lisanti Capital Growth LLC purchased a new stake in CAVA Group in the 1st quarter worth approximately $2,468,000. Victrix Investment Advisors increased its holdings in shares of CAVA Group by 43.8% during the 1st quarter. Victrix Investment Advisors now owns 3,737 shares of the company's stock valued at $323,000 after purchasing an additional 1,139 shares in the last quarter. Diversified Trust Co purchased a new stake in CAVA Group during the first quarter worth $323,000. Finally, Perpetual Ltd purchased a new position in CAVA Group in the first quarter valued at $218,000. Hedge funds and other institutional investors own 73.15% of the company's stock.

CAVA Group Stock Down 0.3 %

The firm has a market cap of $10.49 billion, a price-to-earnings ratio of 197.63 and a beta of 3.33. The business's 50-day simple moving average is $88.61 and its two-hundred day simple moving average is $116.28.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The business had revenue of $227.40 million during the quarter, compared to analyst estimates of $223.34 million. On average, analysts expect 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.