CAVA Group (NYSE:CAVA) Shares Gap Down – What’s Next?

CAVA Group, Inc. (NYSE:CAVA)’s share price gapped down prior to trading 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.

Analyst Ratings Changes

CAVA has been the subject of a number of analyst reports. Morgan Stanley increased their target price on shares of CAVA Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. TD Securities increased their price objective on CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Stifel Nicolaus boosted their target price on CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Argus upped their target price on CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, Citigroup lifted their price target on shares of CAVA Group from $140.00 to $163.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.71.

CAVA Group Trading Up 2.9 %

The firm’s 50-day simple moving average is $132.03 and its two-hundred day simple moving average is $105.21. The company has a market cap of $16.18 billion, a PE ratio of 306.90 and a beta of 3.23.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. The firm had revenue of $243.82 million for the quarter, compared to the consensus estimate of $233.05 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The company’s revenue was up 38.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.06 earnings per share. As a group, analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current year.

Insider Buying and Selling

In other news, CFO Tricia K. Tolivar sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.64, for a total value of $628,200.00. Following the transaction, the chief financial officer now owns 292,600 shares in the company, valued at $36,762,264. This trade represents a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brett Schulman sold 201,504 shares of CAVA Group stock in a transaction that occurred on Monday, August 26th. The stock was 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 directly owns 702,590 shares in the company, valued at $88,196,122.70. This represents a 22.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 319,994 shares of company stock valued at $40,410,084. 12.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. purchased a new stake in CAVA Group in the third quarter valued at approximately $50,000. Geode Capital Management LLC grew its stake in shares of CAVA Group by 121.0% in the third quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock valued at $151,492,000 after buying an additional 669,599 shares in the last quarter. Conway Capital Management Inc. purchased a new stake in shares of CAVA Group in the 3rd quarter valued at $5,524,000. M&T Bank Corp lifted its stake in CAVA Group by 75.2% during the 3rd quarter. M&T Bank Corp now owns 6,320 shares of the company’s stock worth $783,000 after acquiring an additional 2,712 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. purchased a new position in CAVA Group during the 3rd quarter valued at about $285,000. Hedge funds and other institutional investors 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.