CAVA Group (NYSE:CAVA) Reaches New 1-Year Low at $34.39

CAVA Group, Inc. (NYSE:CAVA) shares hit a new 52-week low on Monday . The stock traded as low as $34.39 and last traded at $34.49, with a volume of 402003 shares trading hands. The stock had previously closed at $35.42.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CAVA. Loop Capital began coverage on shares of CAVA Group in a research note on Thursday. They issued a “hold” rating and a $40.00 target price on the stock. JPMorgan Chase & Co. started coverage on CAVA Group in a report on Monday, July 10th. They issued an “overweight” rating and a $45.00 price target on the stock. William Blair began coverage on CAVA Group in a report on Monday, July 10th. They issued an “outperform” rating on the stock. Piper Sandler increased their target price on CAVA Group from $45.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 16th. Finally, Stifel Nicolaus increased their target price on CAVA Group from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, August 16th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.63.

CAVA Group Trading Down 3.4 %

The business’s 50-day moving average price is $46.36.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, August 15th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.24. The business had revenue of $172.89 million for the quarter, compared to analysts’ expectations of $163.21 million. CAVA Group’s revenue for the quarter was up 27.2% compared to the same quarter last year.

Insider Activity

In related news, insider Kenneth Robert Bertram bought 2,295 shares of the business’s stock in a transaction on Tuesday, June 20th. The shares were bought at an average price of $22.00 per share, for a total transaction of $50,490.00. Following the completion of the purchase, the insider now directly owns 1,500 shares of the company’s stock, valued at $33,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Kenneth Robert Bertram purchased 2,295 shares of the business’s stock in a transaction on Tuesday, June 20th. The shares were acquired at an average cost of $22.00 per share, with a total value of $50,490.00. Following the completion of the acquisition, the insider now owns 1,500 shares of the company’s stock, valued at $33,000. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Tricia K. Tolivar purchased 2,500 shares of the business’s stock in a transaction on Tuesday, June 20th. The stock was purchased at an average cost of $22.00 per share, for a total transaction of $55,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 2,500 shares of the company’s stock, valued at approximately $55,000. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 9,295 shares of company stock worth $204,490.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CAVA. Glassman Wealth Services purchased a new stake in CAVA Group during the 2nd quarter worth approximately $28,000. Victory Capital Management Inc. purchased a new stake in shares of CAVA Group during the second quarter valued at $40,000. Osaic Holdings Inc. purchased a new stake in CAVA Group during the 2nd quarter valued at about $74,000. Point72 Asset Management L.P. purchased a new stake in CAVA Group during the 2nd quarter valued at about $102,000. Finally, Cypress Wealth Services LLC purchased a new stake in CAVA Group during the 2nd quarter valued at about $202,000. 61.83% of the stock is currently owned by hedge funds and other institutional investors.

CAVA Group Company Profile

CAVA Group, Inc owns and operates a chain of Mediterranean restaurants. The company offers salads, dips, spreads, toppings, and dressings. It sells its products through whole food markets and grocery stores. The company also provides online food ordering services. Cava Group, Inc was founded in 2006 and is based in Washington, District of Columbia.