CAVA Group (NYSE:CAVA) Stock Price Down 6% – Should You Sell?
by Jessica Moore · The Cerbat GemCAVA Group, Inc. (NYSE:CAVA – Get Free Report)’s share price was down 6% on Thursday . The stock traded as low as $77.58 and last traded at $77.2790. Approximately 1,547,473 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 3,420,056 shares. The stock had previously closed at $82.20.
Wall Street Analyst Weigh In
A number of research firms have commented on CAVA. BNP Paribas Exane initiated coverage on CAVA Group in a report on Monday, March 30th. They set a “neutral” rating and a $91.00 target price on the stock. Citigroup boosted their price target on CAVA Group from $75.00 to $92.00 and gave the company a “neutral” rating in a report on Monday, May 4th. TD Cowen reissued a “buy” rating and set a $100.00 price target on shares of CAVA Group in a research report on Wednesday, May 20th. KeyCorp lifted their price objective on shares of CAVA Group from $95.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. Finally, Northcoast Research upgraded shares of CAVA Group to a “strong sell” rating in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.19.
Check Out Our Latest Stock Report on CAVA
CAVA Group Trading Down 0.9%
The firm has a market capitalization of $9.02 billion, a price-to-earnings ratio of 148.99, a PEG ratio of 5.36 and a beta of 1.90. The business has a 50-day moving average price of $84.37 and a two-hundred day moving average price of $70.77.
CAVA Group (NYSE:CAVA – Get Free Report) last issued its quarterly earnings data on Tuesday, May 19th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. The firm had revenue of $438.27 million during the quarter, compared to the consensus estimate of $360.89 million. CAVA Group had a return on equity of 7.92% and a net margin of 4.79%.The firm’s revenue was up 32.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.22 EPS. On average, equities research analysts predict that CAVA Group, Inc. will post 0.54 earnings per share for the current fiscal year.
Insider Buying and Selling
In other CAVA Group news, insider Kelly Costanza sold 10,010 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $79.87, for a total value of $799,498.70. Following the completion of the transaction, the insider owned 113,850 shares in the company, valued at approximately $9,093,199.50. This represents a 8.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Adam David Phillips sold 5,181 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $77.14, for a total transaction of $399,662.34. Following the completion of the sale, the chief accounting officer owned 9,505 shares in the company, valued at $733,215.70. The trade was a 35.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 24,235 shares of company stock valued at $1,920,420 in the last quarter. Company insiders own 6.70% of the company’s stock.
Institutional Trading of CAVA Group
Large investors have recently added to or reduced their stakes in the business. Capital International Investors boosted its position in CAVA Group by 105.4% during the 3rd quarter. Capital International Investors now owns 4,228,736 shares of the company’s stock worth $255,451,000 after acquiring an additional 2,169,553 shares during the period. William Blair Investment Management LLC acquired a new position in shares of CAVA Group during the third quarter valued at $114,098,000. Capital Research Global Investors increased its holdings in shares of CAVA Group by 27.2% during the fourth quarter. Capital Research Global Investors now owns 8,440,040 shares of the company’s stock valued at $495,344,000 after purchasing an additional 1,805,174 shares during the period. Alliancebernstein L.P. raised its stake in shares of CAVA Group by 118.3% during the third quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company’s stock valued at $178,432,000 after purchasing an additional 1,600,630 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in shares of CAVA Group by 689.8% during the fourth quarter. Marshall Wace LLP now owns 1,387,774 shares of the company’s stock valued at $81,448,000 after purchasing an additional 1,212,068 shares in the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.
About CAVA Group
CAVA Group, Inc (NYSE: CAVA) is a leading fast-casual restaurant company specializing in Mediterranean-inspired cuisine. Operating under the CAVA brand, the company offers customizable bowls, pitas and salads built around a variety of proteins, grains, fresh vegetables and house-made spreads. With a focus on high-quality ingredients and made-to-order preparation, CAVA aims to deliver a casual yet elevated dining experience for dine-in, takeout and catering customers.
Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe’s Kitchen.