FY2024 EPS Estimates for CAVA Group Lifted by William Blair

CAVA Group, Inc. (NYSE:CAVA) – William Blair raised their FY2024 earnings per share estimates for CAVA Group in a note issued to investors on Wednesday, November 13th. William Blair analyst S. Zackfia now anticipates that the company will post earnings per share of $0.49 for the year, up from their prior estimate of $0.40. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for CAVA Group’s current full-year earnings is $0.44 per share.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. CAVA Group had a return on equity of 9.23% and a net margin of 5.88%. The firm had revenue of $243.82 million during the quarter, compared to analyst estimates of $233.05 million. During the same quarter in the prior year, the firm posted $0.06 earnings per share. The business’s quarterly revenue was up 38.9% compared to the same quarter last year.

Other research analysts have also issued research reports about the company. UBS Group assumed coverage on CAVA Group in a research report on Friday, September 27th. They set a “neutral” rating and a $135.00 price target for the company. TD Securities upped their price objective on shares of CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Citigroup lifted their target price on shares of CAVA Group from $140.00 to $163.00 and gave the company a “neutral” rating in a research note on Wednesday. JPMorgan Chase & Co. upped their target price on CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Stifel Nicolaus boosted their target price on shares of CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $140.14.

CAVA Group Trading Down 6.1 %

CAVA stock opened at $138.29 on Friday. The firm’s 50-day moving average price is $130.75 and its two-hundred day moving average price is $103.50. The stock has a market capitalization of $15.81 billion, a price-to-earnings ratio of 298.04 and a beta of 3.23. CAVA Group has a 12-month low of $31.47 and a 12-month high of $172.43.

Insider Buying and Selling

In other news, CFO Tricia K. Tolivar sold 5,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $36,762,264. This trade represents a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brett Schulman sold 201,504 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the completion of the sale, the chief executive officer now directly owns 702,590 shares of the company’s stock, valued at approximately $88,196,122.70. This trade represents a 22.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 304,994 shares of company stock valued at $38,310,084 over the last 90 days. Company insiders own 12.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CAVA. Jamison Private Wealth Management Inc. purchased a new position in CAVA Group in the second quarter worth about $28,000. Nemes Rush Group LLC purchased a new position in shares of CAVA Group in the 2nd quarter worth approximately $28,000. Mark Sheptoff Financial Planning LLC bought a new position in shares of CAVA Group during the 2nd quarter valued at approximately $36,000. Headlands Technologies LLC purchased a new stake in CAVA Group during the 2nd quarter valued at $37,000. Finally, GAMMA Investing LLC lifted its position in CAVA Group by 68.3% in the third quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock worth $38,000 after buying an additional 125 shares during the last quarter. 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.