CAVA Group (NYSE:CAVA) Announces Quarterly Earnings Results, Beats Expectations By $0.04 EPS

CAVA Group (NYSE:CAVA) announced its quarterly earnings data on Tuesday. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04, Briefing.com reports. CAVA Group had a return on equity of 7.37% and a net margin of 5.04%. The company had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. During the same quarter last year, the firm posted $0.06 EPS. The firm’s revenue for the quarter was up 38.9% on a year-over-year basis.

CAVA Group Stock Up 9.4 %

CAVA stock traded up $13.64 during mid-day trading on Wednesday, reaching $158.67. The company had a trading volume of 5,698,957 shares, compared to its average volume of 2,704,118. CAVA Group has a one year low of $31.41 and a one year high of $172.43. The stock has a market capitalization of $18.14 billion, a P/E ratio of 436.54 and a beta of 3.23. The stock’s 50-day simple moving average is $130.09 and its two-hundred day simple moving average is $103.20.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, CEO Brett Schulman sold 201,504 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were 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 of the company’s stock, valued at approximately $88,196,122.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Brett Schulman sold 201,504 shares of CAVA Group stock in a transaction dated 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 transaction, the chief executive officer now owns 702,590 shares of the company’s stock, valued at approximately $88,196,122.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $628,200.00. Following the completion of the transaction, the chief financial officer now owns 292,600 shares of the company’s stock, valued at approximately $36,762,264. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 304,994 shares of company stock worth $38,310,084. 12.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CAVA. JPMorgan Chase & Co. boosted their target price on shares of CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday. Stifel Nicolaus boosted their price target on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. William Blair reiterated an “outperform” rating on shares of CAVA Group in a research note on Wednesday. TD Cowen increased their price objective on CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Robert W. Baird lifted their price target on shares of CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Eight 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 an average rating of “Moderate Buy” and a consensus target price of $128.21.

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.