CAVA Group (NYSE:CAVA) Trading Down 6.3% on Analyst Downgrade

CAVA Group, Inc. (NYSE:CAVA - Get Free Report)'s stock price dropped 6.3% during trading 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 traded 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 analysts also recently weighed in on CAVA. Wedbush reaffirmed an "outperform" rating and issued a $150.00 price objective on shares of CAVA Group in a research note on Wednesday, February 26th. Bank of America initiated coverage on CAVA Group in a research report on Monday, March 31st. They issued a "buy" rating and a $112.00 price target for the company. Loop Capital decreased their price objective on shares of CAVA Group from $147.00 to $100.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. William Blair restated an "outperform" rating on shares of CAVA Group in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. raised shares of CAVA Group from a "neutral" rating to an "overweight" rating and set a $110.00 price target on the stock in a report on Thursday, March 20th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $124.19.

Insider Activity

In other CAVA Group news, CAO Adam David Phillips sold 615 shares of the business's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $76,499.85. Following the completion of the sale, the chief accounting officer now owns 10,884 shares of the company's stock, valued at approximately $1,353,860.76. The trade was a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brett Schulman sold 2,936 shares of the company's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $365,209.04. Following the sale, the chief executive officer now owns 773,433 shares of the company's stock, valued at $96,207,330.87. This represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,734 shares of company stock valued at $713,252 over the last quarter. Company insiders own 12.10% of the company's stock.

Institutional Investors Weigh In On CAVA Group

Several institutional investors have recently bought and sold shares of CAVA. Jennison Associates LLC raised its position in CAVA Group by 36,658.7% in the fourth quarter. Jennison Associates LLC now owns 2,461,732 shares of the company's stock valued at $277,683,000 after purchasing an additional 2,455,035 shares during the period. Vanguard Group Inc. boosted its holdings in CAVA Group by 20.4% in the 4th quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company's stock worth $903,709,000 after acquiring an additional 1,357,187 shares during the period. Man Group plc raised its stake in shares of CAVA Group by 563.7% during the fourth quarter. Man Group plc now owns 935,075 shares of the company's stock valued at $105,476,000 after purchasing an additional 794,187 shares during the period. Barclays PLC lifted its holdings in CAVA Group by 116.7% in the 4th quarter. Barclays PLC now owns 84,755 shares of the company's stock worth $9,560,000 after buying an additional 591,866 shares in the last quarter. Finally, Norges Bank purchased a new stake in CAVA Group during the 4th quarter worth approximately $64,538,000. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

CAVA Group Trading Down 0.3 %

The stock's 50 day simple moving average is $87.76 and its 200 day simple moving average is $116.00. The stock has a market capitalization of $10.49 billion, a P/E ratio of 197.26 and a beta of 3.33.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its earnings results 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 company had revenue of $227.40 million for the quarter, compared to the consensus estimate of $223.34 million. On average, sell-side analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current fiscal 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.