CAVA Group (NYSE:CAVA) Stock Price Down 6.3% – Here’s What Happened

CAVA Group, Inc. (NYSE:CAVA)’s stock price traded down 6.3% during mid-day trading on Wednesday . The company traded as low as $124.57 and last traded at $124.88. 655,244 shares were traded 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

CAVA has been the subject of a number of research analyst reports. Barclays cut their price target on shares of CAVA Group from $142.00 to $127.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Piper Sandler increased their target price on shares of CAVA Group from $100.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Robert W. Baird raised their target price on shares of CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Morgan Stanley increased their price objective on CAVA Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Finally, Wedbush raised their price objective on CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.60.

CAVA Group Stock Performance

The stock has a market capitalization of $12.38 billion, a PE ratio of 234.89 and a beta of 3.25. The firm has a 50 day moving average of $123.37 and a 200-day moving average of $124.97.

Insider Transactions at CAVA Group

In other CAVA Group news, insider Theodoros Xenohristos sold 851 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $101,422.18. Following the transaction, the insider now directly owns 358,995 shares of the company’s stock, valued at $42,785,024.10. This represents a 0.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Tricia K. Tolivar sold 2,086 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $248,609.48. Following the sale, the chief financial officer now directly owns 235,592 shares of the company’s stock, valued at $28,077,854.56. This trade represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 651,784 shares of company stock valued at $96,522,922 over the last three months. 12.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CAVA Group

A number of hedge funds have recently added to or reduced their stakes in CAVA. Vanguard Group Inc. lifted its stake in CAVA Group by 20.4% in the fourth quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company’s stock valued at $903,709,000 after acquiring an additional 1,357,187 shares during the last quarter. FMR LLC raised its holdings in shares of CAVA Group by 14.1% during the 4th quarter. FMR LLC now owns 3,976,353 shares of the company’s stock valued at $448,533,000 after purchasing an additional 491,320 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of CAVA Group by 36,658.7% in the 4th 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 last quarter. Two Sigma Advisers LP boosted its holdings in CAVA Group by 17.0% in the third quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock worth $273,820,000 after purchasing an additional 321,800 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in CAVA Group by 33.0% during the fourth quarter. Federated Hermes Inc. now owns 1,464,987 shares of the company’s stock valued at $165,243,000 after buying an additional 363,814 shares in the last quarter. 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.