CAVA Group (NYSE:CAVA) Trading Down 4.8% – Here’s Why

CAVA Group, Inc. (NYSE:CAVA) shares were down 4.8% on Monday . The stock traded as low as $46.70 and last traded at $46.5590. Approximately 2,890,051 shares traded hands during trading, a decline of 27% from the average daily volume of 3,964,956 shares. The stock had previously closed at $48.92.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CAVA. Sanford C. Bernstein decreased their target price on CAVA Group from $100.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. TD Cowen cut their price target on CAVA Group from $80.00 to $67.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Cfra Research upgraded CAVA Group to a “strong-buy” rating in a research report on Thursday, August 14th. Argus cut their target price on CAVA Group from $76.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Finally, Stifel Nicolaus set a $75.00 price target on shares of CAVA Group in a report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, CAVA Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.75.

CAVA Group Stock Performance

The stock has a market cap of $5.77 billion, a price-to-earnings ratio of 42.88, a PEG ratio of 2.65 and a beta of 2.47. The company’s 50 day simple moving average is $57.38 and its 200 day simple moving average is $71.83.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). CAVA Group had a net margin of 12.14% and a return on equity of 8.88%. The company had revenue of $292.24 million during the quarter, compared to the consensus estimate of $292.88 million. During the same quarter last year, the business earned $0.15 earnings per share. The company’s revenue was up 19.9% on a year-over-year basis. Sell-side analysts predict that CAVA Group, Inc. will post 0.5 EPS for the current year.

Institutional Trading of CAVA Group

Several institutional investors have recently modified their holdings of CAVA. Vanguard Group Inc. raised its position in CAVA Group by 3.5% in the third quarter. Vanguard Group Inc. now owns 9,345,976 shares of the company’s stock worth $564,590,000 after acquiring an additional 313,938 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of CAVA Group by 28.5% in the 3rd quarter. Capital Research Global Investors now owns 6,634,866 shares of the company’s stock worth $400,801,000 after purchasing an additional 1,469,758 shares in the last quarter. Capital International Investors lifted its stake in CAVA Group by 105.4% during the third quarter. Capital International Investors now owns 4,228,736 shares of the company’s stock valued at $255,451,000 after purchasing an additional 2,169,553 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in CAVA Group by 118.3% during the third quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company’s stock worth $178,432,000 after buying an additional 1,600,630 shares in the last quarter. Finally, State Street Corp grew its position in CAVA Group by 5.0% in the second quarter. State Street Corp now owns 2,543,335 shares of the company’s stock worth $214,225,000 after buying an additional 122,163 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.