What is Wedbush's Estimate for CAVA Group FY2024 Earnings?

CAVA Group, Inc. (NYSE:CAVA - Free Report) - Equities research analysts at Wedbush increased their FY2024 earnings per share estimates for shares of CAVA Group in a note issued to investors on Friday, November 1st. Wedbush analyst N. Setyan now expects that the company will earn $0.44 per share for the year, up from their prior estimate of $0.42. Wedbush currently has a "Outperform" rating and a $120.00 target price on the stock. The consensus estimate for CAVA Group's current full-year earnings is $0.43 per share. Wedbush also issued estimates for CAVA Group's Q2 2025 earnings at $0.24 EPS, Q4 2025 earnings at $0.06 EPS and FY2025 earnings at $0.62 EPS.

CAVA has been the topic of a number of other research reports. UBS Group initiated coverage on CAVA Group in a report on Friday, September 27th. They issued a "neutral" rating and a $135.00 price target on the stock. Morgan Stanley cut CAVA Group from an "overweight" rating to an "equal weight" rating and upped their price target for the stock from $90.00 to $110.00 in a report on Thursday, August 29th. Robert W. Baird upped their price target on CAVA Group from $125.00 to $148.00 and gave the stock an "outperform" rating in a report on Monday. Citigroup upped their price target on CAVA Group from $115.00 to $140.00 and gave the stock a "neutral" rating in a report on Tuesday, October 29th. Finally, Jefferies Financial Group upped their price target on CAVA Group from $94.00 to $117.00 and gave the stock a "buy" rating in a report on Friday, August 23rd. Eight investment 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 has a consensus rating of "Moderate Buy" and a consensus target price of $120.36.

CAVA Group Price Performance

Shares of CAVA stock traded up $0.59 during trading hours on Monday, reaching $132.12. 1,162,256 shares of the company's stock were exchanged, compared to its average volume of 2,696,148. The company has a market cap of $15.10 billion, a P/E ratio of 358.08 and a beta of 3.23. The company's 50 day moving average is $126.65 and its two-hundred day moving average is $99.32. CAVA Group has a 1 year low of $29.66 and a 1 year high of $141.25.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its earnings results on Thursday, August 22nd. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.04. The business had revenue of $233.50 million during the quarter, compared to the consensus estimate of $219.47 million. CAVA Group had a return on equity of 7.37% and a net margin of 5.04%. The company's revenue for the quarter was up 35.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 EPS.

Hedge Funds Weigh In On CAVA Group

Hedge funds have recently bought and sold shares of the company. Jamison Private Wealth Management Inc. acquired a new position in CAVA Group in the second quarter worth about $28,000. Nemes Rush Group LLC acquired a new position in CAVA Group in the second quarter worth about $28,000. GAMMA Investing LLC grew its stake 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 purchasing an additional 125 shares in the last quarter. Mark Sheptoff Financial Planning LLC acquired a new position in CAVA Group in the second quarter worth about $36,000. Finally, Headlands Technologies LLC acquired a new position in CAVA Group in the second quarter valued at approximately $37,000. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at CAVA Group

In other news, Director Theodoros Xenohristos sold 98,490 shares of the firm's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the completion of the sale, the director now directly owns 424,846 shares in the company, valued at $53,432,881.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Theodoros Xenohristos sold 98,490 shares of the firm's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the completion of the sale, the director now directly owns 424,846 shares in the company, valued at $53,432,881.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brett Schulman sold 201,504 shares of the firm'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 sale, the chief executive officer now owns 702,590 shares of the company's stock, valued at $88,196,122.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 304,994 shares of company stock valued at $38,310,084 over the last three months. 12.10% of the stock is owned by company insiders.

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.