CAVA Group (NYSE:CAVA) Trading Down 2%

CAVA Group, Inc. (NYSE:CAVA - Get Free Report)'s share price fell 2% during mid-day trading on Monday . The stock traded as low as $76.60 and last traded at $77.45. 376,329 shares traded hands during trading, a decline of 83% from the average session volume of 2,230,466 shares. The stock had previously closed at $79.07.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Robert W. Baird increased their target price on CAVA Group from $54.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, February 15th. Morgan Stanley lifted their price objective on CAVA Group from $62.00 to $68.00 and gave the stock an "overweight" rating in a research report on Friday, April 12th. Argus upgraded shares of CAVA Group from a "hold" rating to a "buy" rating and set a $70.00 target price on the stock in a report on Wednesday, April 10th. William Blair reiterated an "outperform" rating on shares of CAVA Group in a report on Tuesday, February 27th. Finally, Wedbush upped their price objective on shares of CAVA Group from $65.00 to $74.00 and gave the company an "outperform" rating in a research note on Tuesday, April 16th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $60.42.

CAVA Group Stock Down 3.3 %

The stock's 50 day moving average price is $66.25 and its 200 day moving average price is $50.77.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its quarterly earnings results on Monday, February 26th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. CAVA Group had a return on equity of 4.28% and a net margin of 1.82%. The firm had revenue of $175.50 million during the quarter, compared to the consensus estimate of $240.03 million. CAVA Group's quarterly revenue was up 52.6% on a year-over-year basis. As a group, sell-side analysts forecast that CAVA Group, Inc. will post 0.25 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Theodoros Xenohristos sold 47,239 shares of the company's stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $68.29, for a total value of $3,225,951.31. Following the completion of the transaction, the director now directly owns 526,521 shares in the company, valued at $35,956,119.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other CAVA Group news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the company's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $57.20, for a total value of $85,800,000.00. Following the transaction, the insider now directly owns 4,457,634 shares of the company's stock, valued at approximately $254,976,664.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Theodoros Xenohristos sold 47,239 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $68.29, for a total value of $3,225,951.31. Following the transaction, the director now owns 526,521 shares of the company's stock, valued at $35,956,119.09. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,547,239 shares of company stock valued at $221,525,951.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CAVA. Vanguard Group Inc. lifted its holdings in CAVA Group by 215.7% in the first quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company's stock worth $346,330,000 after acquiring an additional 3,377,840 shares during the last quarter. Capital Research Global Investors raised its position in shares of CAVA Group by 249.5% during the 4th quarter. Capital Research Global Investors now owns 4,369,281 shares of the company's stock worth $187,792,000 after purchasing an additional 3,119,281 shares during the period. 1832 Asset Management L.P. lifted its holdings in shares of CAVA Group by 79.5% in the 4th quarter. 1832 Asset Management L.P. now owns 2,248,400 shares of the company's stock worth $96,636,000 after purchasing an additional 995,800 shares during the last quarter. Artemis Investment Management LLP acquired a new position in CAVA Group during the 1st quarter valued at approximately $38,225,000. Finally, FMR LLC grew its stake in CAVA Group by 92.1% during the 3rd quarter. FMR LLC now owns 1,138,113 shares of the company's stock worth $34,860,000 after buying an additional 545,799 shares during the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

About CAVA Group

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.