FY2024 EPS Estimates for CAVA Group Boosted by William Blair

CAVA Group, Inc. (NYSE:CAVA - Free Report) - William Blair increased their FY2024 earnings per share (EPS) estimates for CAVA Group in a research report issued on Wednesday, November 13th. William Blair analyst S. Zackfia now anticipates that the company will post earnings of $0.49 per share for the year, up from their previous forecast of $0.40. William Blair has a "Outperform" rating on the stock. The consensus estimate for CAVA Group's current full-year earnings is $0.46 per share.

A number of other research firms have also weighed in on CAVA. Morgan Stanley boosted their target price on CAVA Group from $123.00 to $135.00 and gave the company an "equal weight" rating in a research note on Thursday. Argus boosted their price target on CAVA Group from $104.00 to $128.00 and gave the company a "buy" rating in a report on Wednesday, September 11th. Barclays boosted their price target on CAVA Group from $113.00 to $142.00 and gave the company an "equal weight" rating in a report on Wednesday. Piper Sandler boosted their price target on CAVA Group from $100.00 to $142.00 and gave the company a "neutral" rating in a report on Friday. Finally, Wedbush boosted their price target on CAVA Group from $155.00 to $190.00 and gave the company an "outperform" rating in a report on Wednesday. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, CAVA Group currently has an average rating of "Moderate Buy" and an average price target of $143.71.

CAVA Group Stock Up 2.1 %

Shares of NYSE CAVA traded up $2.89 during midday trading on Friday, reaching $141.23. The company had a trading volume of 3,968,069 shares, compared to its average volume of 2,763,479. CAVA Group has a one year low of $31.47 and a one year high of $172.43. The firm's fifty day moving average price is $131.69 and its 200-day moving average price is $104.24. The stock has a market cap of $16.15 billion, a PE ratio of 307.02 and a beta of 3.23.

CAVA Group (NYSE:CAVA - Get Free Report) last released its earnings results 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 company had revenue of $243.82 million during the quarter, compared to analyst estimates of $233.05 million. During the same quarter in the previous year, the company posted $0.06 EPS. CAVA Group's revenue for the quarter was up 38.9% on a year-over-year basis.

Insider Transactions at CAVA Group

In related news, CEO Brett Schulman sold 201,504 shares of the company's stock in a transaction that occurred on 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 directly owns 702,590 shares of the company's stock, valued at approximately $88,196,122.70. This represents a 22.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Theodoros Xenohristos sold 98,490 shares of the company's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.77, for a total value of $12,387,087.30. Following the completion of the transaction, the director now directly owns 424,846 shares in the company, valued at $53,432,881.42. This trade represents a 18.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 304,994 shares of company stock valued at $38,310,084 in the last ninety days. 12.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CAVA Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jamison Private Wealth Management Inc. bought a new position in shares of CAVA Group during the 2nd quarter valued at $28,000. Nemes Rush Group LLC bought a new position in shares of CAVA Group during the 2nd quarter valued at $28,000. GAMMA Investing LLC lifted its holdings in shares of CAVA Group by 68.3% during the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company's stock valued at $38,000 after buying an additional 125 shares during the period. Mark Sheptoff Financial Planning LLC bought a new position in shares of CAVA Group during the 2nd quarter valued at $36,000. Finally, Headlands Technologies LLC bought a new position in shares of CAVA Group during the 2nd quarter valued at $37,000. 73.15% of the stock is owned by institutional investors.

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.