CAVA Group (NYSE:CAVA) Downgraded to "Sell" Rating by Wall Street Zen

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 note issued to investors on Friday.

Several other analysts have also recently commented on the stock. Sanford C. Bernstein upgraded shares of CAVA Group from a "market perform" rating to an "outperform" rating and set a $115.00 price target for the company in a report on Wednesday, April 23rd. Citigroup lifted their target price on shares of CAVA Group from $114.00 to $115.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Bank of America lifted their target price on shares of CAVA Group from $112.00 to $121.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Stifel Nicolaus reduced their target price on shares of CAVA Group from $175.00 to $125.00 and set a "buy" rating for the company in a research note on Wednesday, June 18th. Finally, TD Securities reiterated a "buy" rating and issued a $120.00 target price on shares of CAVA Group in a research note on Friday, May 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $118.94.

CAVA Group Stock Performance

Shares of CAVA stock traded up $6.54 during trading on Friday, hitting $84.43. 7,584,548 shares of the company were exchanged, compared to its average volume of 3,183,711. The firm has a market capitalization of $9.77 billion, a price-to-earnings ratio of 70.36, a P/E/G ratio of 3.65 and a beta of 2.79. The business's 50-day simple moving average is $85.03 and its 200 day simple moving average is $98.58. 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 posted its quarterly earnings results on Thursday, May 15th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.14 by $0.08. The business had revenue of $331.83 million during the quarter, compared to analysts' expectations of $327.98 million. CAVA Group had a net margin of 13.70% and a return on equity of 10.61%. The firm's quarterly revenue was up 28.1% compared to the same quarter last year. During the same period last year, the company posted $0.12 earnings per share. On average, equities analysts forecast that CAVA Group will post 0.5 earnings per share for the current fiscal year.

Insider Buying and Selling at CAVA Group

In related news, insider Theodoros Xenohristos sold 9,348 shares of the business's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $94.88, for a total transaction of $886,938.24. Following the transaction, the insider owned 353,271 shares of the company's stock, valued at approximately $33,518,352.48. The trade was a 2.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Brett Schulman sold 31,856 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $2,394,296.96. Following the transaction, the chief executive officer directly owned 792,318 shares in the company, valued at $59,550,620.88. This trade represents a 3.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,951 shares of company stock valued at $5,409,027 in the last three months. 12.10% of the stock is owned by insiders.

Institutional Investors Weigh In On CAVA Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Voya Investment Management LLC increased its holdings in CAVA Group by 219.5% in the 1st quarter. Voya Investment Management LLC now owns 386,330 shares of the company's stock valued at $33,383,000 after buying an additional 265,416 shares during the period. Cim LLC increased its holdings in CAVA Group by 2.6% in the 1st quarter. Cim LLC now owns 9,755 shares of the company's stock valued at $843,000 after buying an additional 247 shares during the period. Strs Ohio bought a new stake in CAVA Group in the 1st quarter valued at $766,000. Advisors Capital Management LLC bought a new stake in CAVA Group in the 1st quarter valued at $1,853,000. Finally, Belpointe Asset Management LLC bought a new stake in CAVA Group in the 1st quarter valued at $254,000. 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.