Wall Street Zen Downgrades CAVA Group (NYSE:CAVA) to Sell

CAVA Group (NYSE:CAVA - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Friday.

CAVA has been the subject of several other reports. Sanford C. Bernstein raised shares of CAVA Group from a "market perform" rating to an "outperform" rating and set a $115.00 price objective for the company in a report on Wednesday, April 23rd. Barclays cut their target price on shares of CAVA Group from $104.00 to $90.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Stifel Nicolaus lowered their price target on CAVA Group from $175.00 to $125.00 and set a "buy" rating on the stock in a research report on Wednesday, June 18th. Citigroup boosted their price objective on CAVA Group from $114.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Finally, TD Securities restated a "buy" rating and set a $120.00 target price on shares of CAVA Group in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $118.94.

CAVA Group Stock Up 0.5%

Shares of NYSE:CAVA traded up $0.37 on Friday, reaching $78.04. The company had a trading volume of 6,875,984 shares, compared to its average volume of 3,172,293. The stock has a market capitalization of $9.03 billion, a P/E ratio of 65.03, a P/E/G ratio of 3.63 and a beta of 2.77. The stock has a 50-day moving average price of $84.95 and a 200 day moving average price of $99.24. CAVA Group has a twelve month low of $70.00 and a twelve month high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The company reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.08. The business had revenue of $331.83 million for the quarter, compared to the consensus estimate of $327.98 million. CAVA Group had a return on equity of 10.61% and a net margin of 13.70%. The firm's revenue was up 28.1% compared to the same quarter last year. During the same period last year, the business earned $0.12 EPS. On average, sell-side analysts predict that CAVA Group will post 0.5 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Adam David Phillips sold 739 shares of CAVA Group stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $55,543.24. Following the completion of the transaction, the chief accounting officer now directly owns 11,063 shares of the company's stock, valued at $831,495.08. This trade represents a 6.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Theodoros Xenohristos sold 9,348 shares of the business's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $94.88, for a total transaction of $886,938.24. Following the completion of the transaction, the insider now owns 353,271 shares in the company, valued at approximately $33,518,352.48. This trade represents a 2.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,951 shares of company stock worth $5,409,027. Corporate insiders own 6.80% of the company's stock.

Institutional Trading of CAVA Group

Several hedge funds have recently modified their holdings of the company. First Horizon Advisors Inc. raised its holdings in shares of CAVA Group by 1,400.0% in the first quarter. First Horizon Advisors Inc. now owns 285 shares of the company's stock valued at $25,000 after buying an additional 266 shares during the last quarter. Vision Financial Markets LLC acquired a new stake in CAVA Group in the 1st quarter valued at about $26,000. Dagco Inc. bought a new position in shares of CAVA Group in the first quarter worth about $27,000. Larson Financial Group LLC lifted its position in shares of CAVA Group by 274.0% during the fourth quarter. Larson Financial Group LLC now owns 273 shares of the company's stock worth $31,000 after purchasing an additional 200 shares in the last quarter. Finally, Versant Capital Management Inc bought a new stake in shares of CAVA Group during the first quarter valued at approximately $31,000. Institutional investors and hedge funds 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.