CAVA Group (NYSE:CAVA) Trading Down 4.8% – Time to Sell?

Shares of CAVA Group, Inc. (NYSE:CAVA) were down 4.8% during trading on Monday . The stock traded as low as $65.53 and last traded at $65.5430. 436,936 shares were traded during trading, a decline of 87% from the average daily volume of 3,306,323 shares. The stock had previously closed at $68.85.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CAVA shares. Northcoast Research raised shares of CAVA Group to a “strong sell” rating in a report on Tuesday, April 21st. Wall Street Zen upgraded shares of CAVA Group from a “sell” rating to a “hold” rating in a report on Sunday, May 24th. Guggenheim started coverage on shares of CAVA Group in a research report on Thursday, March 26th. They set a “buy” rating and a $100.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on shares of CAVA Group from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, April 24th. Finally, Telsey Advisory Group upped their price objective on CAVA Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, CAVA Group has an average rating of “Moderate Buy” and a consensus price target of $93.54.

CAVA Group Stock Performance

The firm has a market cap of $7.60 billion, a PE ratio of 125.73, a price-to-earnings-growth ratio of 4.72 and a beta of 1.69. The stock has a 50-day simple moving average of $77.98 and a two-hundred day simple moving average of $77.18.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Tuesday, May 19th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. CAVA Group had a net margin of 4.79% and a return on equity of 7.92%. The firm had revenue of $438.27 million for the quarter, compared to the consensus estimate of $360.89 million. During the same quarter last year, the firm posted $0.22 EPS. The business’s quarterly revenue was up 32.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that CAVA Group, Inc. will post 0.55 EPS for the current fiscal year.

Insider Buying and Selling

In other CAVA Group news, CFO Tricia K. Tolivar sold 4,969 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $89.43, for a total transaction of $444,377.67. Following the completion of the sale, the chief financial officer directly owned 234,931 shares in the company, valued at approximately $21,009,879.33. The trade was a 2.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Karen Kochevar sold 10,000 shares of the stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $90.00, for a total value of $900,000.00. Following the transaction, the director directly owned 3,074 shares in the company, valued at $276,660. The trade was a 76.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 91,747 shares of company stock valued at $7,970,838 in the last ninety days. Corporate insiders own 6.70% of the company’s stock.

Institutional Trading of CAVA Group

Several large investors have recently modified their holdings of CAVA. Los Angeles Capital Management LLC purchased a new stake in CAVA Group during the fourth quarter valued at $25,000. Harbor Investment Advisory LLC grew its stake in shares of CAVA Group by 347.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock valued at $30,000 after purchasing an additional 400 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of CAVA Group during the 2nd quarter valued at about $31,000. TD Private Client Wealth LLC increased its position in shares of CAVA Group by 118.2% during the 4th quarter. TD Private Client Wealth LLC now owns 600 shares of the company’s stock valued at $35,000 after purchasing an additional 325 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in shares of CAVA Group by 57.4% in the 4th quarter. Allworth Financial LP now owns 650 shares of the company’s stock worth $38,000 after purchasing an additional 237 shares during the period. Institutional investors own 73.15% of the company’s stock.

CAVA Group Company Profile

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.