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

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Robert W. Baird raised their price objective on shares of CAVA Group from $125.00 to $148.00 and gave the company an "outperform" rating in a research report on Monday, November 4th. JPMorgan Chase & Co. raised their price objective on shares of CAVA Group from $90.00 to $110.00 and gave the company a "neutral" rating in a research report on Wednesday, November 13th. William Blair restated an "outperform" rating on shares of CAVA Group in a research report on Wednesday, November 13th. TD Cowen raised their target price on shares of CAVA Group from $130.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Finally, Loop Capital raised their target price on shares of CAVA Group from $122.00 to $147.00 and gave the stock a "hold" rating in a report on Thursday, November 14th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $140.60.

CAVA Group Stock Down 8.9 %

The stock has a market cap of $12.38 billion, a P/E ratio of 234.89 and a beta of 3.25. The firm's 50-day moving average is $123.05 and its two-hundred day moving average is $125.76.

Insider Activity at CAVA Group

In other news, CAO Adam David Phillips sold 615 shares of CAVA Group stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $124.39, for a total value of $76,499.85. Following the transaction, the chief accounting officer now owns 10,884 shares of the company's stock, valued at $1,353,860.76. This trade represents a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brett Schulman sold 20,564 shares of CAVA Group stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $2,450,817.52. Following the completion of the transaction, the chief executive officer now directly owns 776,369 shares in the company, valued at approximately $92,527,657.42. This represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 651,784 shares of company stock valued at $96,522,922. 12.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CAVA Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Conway Capital Management Inc. acquired a new stake in shares of CAVA Group in the third quarter worth $5,524,000. Entropy Technologies LP acquired a new stake in shares of CAVA Group in the fourth quarter worth $2,097,000. Empowered Funds LLC acquired a new stake in shares of CAVA Group in the fourth quarter worth $5,007,000. SpiderRock Advisors LLC grew its stake in shares of CAVA Group by 8.9% in the third quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company's stock worth $59,364,000 after acquiring an additional 39,319 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of CAVA Group by 262.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company's stock worth $63,918,000 after acquiring an additional 373,835 shares during the last quarter. 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.