CAVA Group (NYSE:CAVA) Trading Down 7.3% – Should You Sell?

CAVA Group, Inc. (NYSE:CAVA) dropped 7.3% during mid-day trading on Thursday . The company traded as low as $77.38 and last traded at $76.34. Approximately 220,877 shares traded hands during trading, a decline of 92% from the average daily volume of 2,880,996 shares. The stock had previously closed at $82.38.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CAVA. TD Securities reduced their price target on shares of CAVA Group from $150.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Wedbush reiterated an “outperform” rating and set a $150.00 target price on shares of CAVA Group in a research report on Wednesday, February 26th. Loop Capital cut their price objective on CAVA Group from $147.00 to $100.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Barclays reduced their price objective on shares of CAVA Group from $127.00 to $104.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Finally, TD Cowen upped their price target on CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, CAVA Group has a consensus rating of “Moderate Buy” and an average target price of $131.47.

CAVA Group Price Performance

The firm has a market cap of $8.66 billion, a price-to-earnings ratio of 162.97 and a beta of 3.58. The company has a fifty day moving average price of $115.66 and a two-hundred day moving average price of $124.75.

CAVA Group (NYSE:CAVA) last released its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share 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 business had revenue of $227.40 million for the quarter, compared to analysts’ expectations of $223.34 million. On average, research analysts expect that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Theodoros Xenohristos sold 851 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $101,422.18. Following the completion of the transaction, the insider now owns 358,995 shares in the company, valued at approximately $42,785,024.10. This represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kenneth Robert Bertram sold 678 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $84,336.42. Following the transaction, the insider now owns 57,312 shares of the company’s stock, valued at approximately $7,129,039.68. This represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,235 shares of company stock valued at $3,514,101 over the last quarter. Corporate insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

Several hedge funds have recently added to or reduced their stakes in CAVA. Conway Capital Management Inc. acquired a new stake in CAVA Group during the third quarter worth approximately $5,524,000. Entropy Technologies LP acquired a new stake in CAVA Group during the 4th quarter worth approximately $2,097,000. Empowered Funds LLC bought a new stake in CAVA Group in the 4th quarter valued at $5,007,000. Charles Schwab Investment Management Inc. grew its holdings in CAVA Group by 262.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock valued at $63,918,000 after buying an additional 373,835 shares in the last quarter. Finally, Legacy Capital Wealth Partners LLC increased its position in CAVA Group by 71.9% during the 4th quarter. Legacy Capital Wealth Partners LLC now owns 13,658 shares of the company’s stock worth $1,541,000 after buying an additional 5,712 shares during the period. Institutional investors and hedge funds own 73.15% of the company’s stock.

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.