CAVA Group (NYSE:CAVA) Issues Quarterly Earnings Results

CAVA Group (NYSE:CAVA - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.04, Briefing.com reports. The firm had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.23%. The business's revenue for the quarter was up 38.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.06 EPS.

CAVA Group Stock Performance

CAVA traded up $2.28 during midday trading on Wednesday, hitting $147.31. The company had a trading volume of 13,062,556 shares, compared to its average volume of 2,743,612. CAVA Group has a twelve month low of $31.41 and a twelve month high of $172.43. The company has a market capitalization of $16.84 billion, a PE ratio of 337.09 and a beta of 3.23. The firm's 50-day simple moving average is $130.09 and its 200-day simple moving average is $103.20.

Analyst Ratings Changes

Several research analysts recently issued reports on CAVA shares. Barclays increased their price target on shares of CAVA Group from $113.00 to $142.00 and gave the stock an "equal weight" rating in a research report on Wednesday. William Blair reissued an "outperform" rating on shares of CAVA Group in a report on Wednesday. TD Cowen boosted their price target on CAVA Group from $130.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday. UBS Group initiated coverage on CAVA Group in a research note on Friday, September 27th. They set a "neutral" rating and a $135.00 price objective for the company. Finally, Loop Capital lifted their price objective on CAVA Group from $80.00 to $122.00 and gave the company a "hold" rating in a report on Monday, August 26th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, CAVA Group has an average rating of "Moderate Buy" and a consensus price target of $136.57.

Insider Transactions at CAVA Group

In related news, CEO Brett Schulman sold 201,504 shares of the firm's stock in a transaction that occurred on 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 owns 702,590 shares of the company's stock, valued at $88,196,122.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other CAVA Group news, CFO Tricia K. Tolivar sold 5,000 shares of the company's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.64, for a total transaction of $628,200.00. Following the transaction, the chief financial officer now directly owns 292,600 shares in the company, valued at approximately $36,762,264. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction of $25,294,797.12. Following the sale, the chief executive officer now 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 304,994 shares of company stock worth $38,310,084. Corporate insiders own 12.10% of the company's stock.

CAVA Group Company Profile

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.