CAVA Group (NYSE:CAVA) Shares Down 3.5% – Should You Sell?

CAVA Group, Inc. (NYSE:CAVA) shares fell 3.5% during trading on Friday . The stock traded as low as $95.16 and last traded at $95.55. 1,836,752 shares traded hands during trading, a decline of 41% from the average session volume of 3,128,378 shares. The stock had previously closed at $99.06.

Analysts Set New Price Targets

Several brokerages have recently commented on CAVA. Wedbush reiterated an “outperform” rating and set a $150.00 price objective on shares of CAVA Group in a report on Wednesday, February 26th. Loop Capital cut their target price on CAVA Group from $147.00 to $100.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Citigroup upped their target price on CAVA Group from $114.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday. Sanford C. Bernstein raised CAVA Group from a “market perform” rating to an “outperform” rating and set a $115.00 target price on the stock in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. raised CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 target price on the stock in a research report on Thursday, March 20th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $122.44.

CAVA Group Stock Performance

The stock has a market capitalization of $11.22 billion, a PE ratio of 210.93 and a beta of 3.28. The stock’s 50 day moving average is $88.07 and its two-hundred day moving average is $111.76.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Thursday, May 15th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.08. The firm had revenue of $331.83 million for the quarter, compared to analyst estimates of $327.98 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. CAVA Group’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same period last year, the company posted $0.12 EPS. Equities research analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Insider Activity at CAVA Group

In other CAVA Group news, insider Theodoros Xenohristos sold 9,348 shares of the firm’s stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $94.88, for a total value of $886,938.24. Following the transaction, the insider now directly owns 353,271 shares of the company’s stock, valued at $33,518,352.48. This trade represents a 2.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.80% of the stock is currently owned by corporate insiders.

Institutional Trading of CAVA Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Woodline Partners LP increased its holdings in CAVA Group by 38.6% in the 1st quarter. Woodline Partners LP now owns 240,946 shares of the company’s stock valued at $20,820,000 after purchasing an additional 67,049 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in CAVA Group by 14.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 606,780 shares of the company’s stock valued at $52,432,000 after purchasing an additional 75,828 shares during the last quarter. Sender Co & Partners Inc. acquired a new stake in CAVA Group in the 1st quarter valued at approximately $1,126,000. Jones Financial Companies Lllp increased its holdings in CAVA Group by 1,785.1% in the 1st quarter. Jones Financial Companies Lllp now owns 67,843 shares of the company’s stock valued at $5,862,000 after purchasing an additional 64,244 shares during the last quarter. Finally, Scientech Research LLC increased its holdings in CAVA Group by 5.1% in the 1st quarter. Scientech Research LLC now owns 12,071 shares of the company’s stock valued at $1,043,000 after purchasing an additional 586 shares during 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.