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

Shares of CAVA Group, Inc. (NYSE:CAVA) fell 6.3% on Monday after TD Securities lowered their price target on the stock from $130.00 to $120.00. TD Securities currently has a buy rating on the stock. CAVA Group traded as low as $81.75 and last traded at $80.60. 212,614 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 3,102,445 shares. The stock had previously closed at $86.00.

Several other analysts have also recently weighed in on CAVA. William Blair restated an “outperform” rating on shares of CAVA Group in a research report on Wednesday, February 26th. Robert W. Baird set a $105.00 price target on CAVA Group and gave the stock an “outperform” rating in a research note on Monday, April 7th. Citigroup decreased their price objective on CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Bank of America began coverage on shares of CAVA Group in a research report on Monday, March 31st. They set a “buy” rating and a $112.00 price target on the stock. Finally, Piper Sandler upgraded shares of CAVA Group from a “neutral” rating to an “overweight” rating and lowered their price objective for the stock from $142.00 to $115.00 in a report on Friday, February 28th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $126.94.

Insider Activity

In other CAVA Group news, CFO Tricia K. Tolivar sold 1,505 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $124.39, for a total value of $187,206.95. Following the completion of the transaction, the chief financial officer now directly owns 234,087 shares in the company, valued at approximately $29,118,081.93. This represents a 0.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Adam David Phillips sold 615 shares of CAVA Group stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $76,499.85. Following the sale, the chief accounting officer now directly owns 10,884 shares in the company, valued at $1,353,860.76. The trade was a 5.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,734 shares of company stock valued at $713,252. Company insiders own 12.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Arcadia Investment Management Corp MI bought a new position in CAVA Group in the fourth quarter worth $25,000. Allworth Financial LP lifted its position in CAVA Group by 369.2% during the 4th quarter. Allworth Financial LP now owns 244 shares of the company’s stock valued at $30,000 after acquiring an additional 192 shares during the period. Larson Financial Group LLC boosted its stake in CAVA Group by 274.0% during the fourth quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock worth $31,000 after acquiring an additional 200 shares in the last quarter. Versant Capital Management Inc bought a new position in shares of CAVA Group during the first quarter valued at approximately $31,000. Finally, Whittier Trust Co. lifted its holdings in shares of CAVA Group by 80.9% during the fourth quarter. Whittier Trust Co. now owns 284 shares of the company’s stock valued at $32,000 after purchasing an additional 127 shares during the last quarter. Institutional investors own 73.15% of the company’s stock.

CAVA Group Stock Performance

The stock has a market capitalization of $9.33 billion, a P/E ratio of 175.46 and a beta of 3.33. The business has a 50-day moving average price of $91.30 and a 200 day moving average price of $116.98.

CAVA Group (NYSE:CAVA) last released 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). The company had revenue of $227.40 million during the quarter, compared to the consensus estimate of $223.34 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. As a group, research analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

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.