CAVA Group (NYSE:CAVA) Shares Gap Down – Here’s Why

Shares of CAVA Group, Inc. (NYSE:CAVA) gapped down before the market opened on Monday . The stock had previously closed at $141.38, but opened at $134.35. CAVA Group shares last traded at $134.18, with a volume of 1,498,169 shares changing hands.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Jefferies Financial Group increased their price target on CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Citigroup boosted their target price on shares of CAVA Group from $140.00 to $163.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. William Blair reissued an “outperform” rating on shares of CAVA Group in a research report on Wednesday, November 13th. Wedbush lifted their price target on shares of CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, TD Cowen lifted their target price on CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, CAVA Group has an average rating of “Moderate Buy” and a consensus target price of $143.71.

CAVA Group Trading Down 1.4 %

The company has a 50 day moving average of $131.69 and a 200 day moving average of $104.72. The firm has a market cap of $15.97 billion, a price-to-earnings ratio of 295.33 and a beta of 3.23.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. The company had revenue of $243.82 million during the quarter, compared to analysts’ expectations of $233.05 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The business’s revenue was up 38.9% on a year-over-year basis. During the same period last year, the business earned $0.06 earnings per share. As a group, sell-side analysts anticipate that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Insider Transactions at CAVA Group

In other CAVA Group news, CEO Brett Schulman sold 201,504 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.53, for a total value of $25,294,797.12. Following the completion of the sale, the chief executive officer now owns 702,590 shares of the company’s stock, valued at approximately $88,196,122.70. This represents a 22.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Tricia K. Tolivar sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.64, for a total value of $628,200.00. Following the completion of the transaction, the chief financial officer now owns 292,600 shares of the company’s stock, valued at $36,762,264. This represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 304,994 shares of company stock worth $38,310,084. Corporate insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in CAVA Group by 215.7% during the 1st quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock valued at $346,330,000 after purchasing an additional 3,377,840 shares during the last quarter. Capital Research Global Investors increased its stake in CAVA Group by 21.6% during the 1st quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock worth $372,059,000 after acquiring an additional 942,054 shares during the period. Geode Capital Management LLC lifted its position in shares of CAVA Group by 121.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock valued at $151,492,000 after acquiring an additional 669,599 shares during the period. Renaissance Technologies LLC grew its holdings in shares of CAVA Group by 102.5% during the 2nd quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock worth $82,770,000 after purchasing an additional 451,800 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position 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 purchasing an additional 373,835 shares during the period. 73.15% of the stock is currently 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.