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

CAVA Group, Inc. (NYSE:CAVA - Free Report) - Research analysts at Wedbush increased their FY2024 earnings per share (EPS) estimates for shares of CAVA Group in a research report issued to clients and investors on Wednesday, November 13th. Wedbush analyst N. Setyan now forecasts that the company will post earnings of $0.50 per share for the year, up from their prior estimate of $0.44. Wedbush currently has a "Outperform" rating and a $190.00 price target on the stock. The consensus estimate for CAVA Group's current full-year earnings is $0.44 per share. Wedbush also issued estimates for CAVA Group's Q4 2024 earnings at $0.06 EPS, Q3 2025 earnings at $0.22 EPS and FY2025 earnings at $0.70 EPS.

CAVA Group (NYSE:CAVA - Get Free Report) last released its quarterly 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. The business had revenue of $243.82 million for the quarter, compared to the consensus estimate of $233.05 million. CAVA Group had a return on equity of 9.23% and a net margin of 5.88%. The company's revenue for the quarter was up 38.9% on a year-over-year basis. During the same quarter last year, the business posted $0.06 earnings per share.

Several other brokerages also recently weighed in on CAVA. UBS Group assumed 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. Argus lifted their target price on shares of CAVA Group from $104.00 to $128.00 and gave the stock a "buy" rating in a research note on Wednesday, September 11th. TD Cowen upped 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. Citigroup boosted their target price on CAVA Group from $140.00 to $163.00 and gave the company a "neutral" rating in a research report on Wednesday. Finally, Morgan Stanley boosted their price target on shares of CAVA Group from $123.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Thursday. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $140.14.

CAVA Group Stock Performance

Shares of CAVA Group stock traded down $5.38 during trading on Thursday, hitting $141.92. The company's stock had a trading volume of 3,158,302 shares, compared to its average volume of 2,745,602. The company has a fifty day simple moving average of $130.75 and a two-hundred day simple moving average of $103.50. CAVA Group has a 52 week low of $31.47 and a 52 week high of $172.43. The company has a market capitalization of $16.22 billion, a PE ratio of 305.65 and a beta of 3.23.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CAVA. Nwam LLC increased its stake in CAVA Group by 2.6% in the 3rd quarter. Nwam LLC now owns 3,368 shares of the company's stock valued at $417,000 after buying an additional 85 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of CAVA Group by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 3,287 shares of the company's stock worth $407,000 after purchasing an additional 110 shares during the period. Farther Finance Advisors LLC grew its stake in CAVA Group by 6.3% in the third quarter. Farther Finance Advisors LLC now owns 1,916 shares of the company's stock worth $237,000 after purchasing an additional 113 shares during the period. GAMMA Investing LLC increased its position in 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 in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of CAVA Group by 0.5% during the second quarter. Dimensional Fund Advisors LP now owns 39,154 shares of the company's stock valued at $3,632,000 after purchasing an additional 184 shares during the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CAVA Group

In related 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 transaction 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 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 is accessible through the SEC website. 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 transaction of $25,294,797.12. Following the sale, the chief executive officer now owns 702,590 shares in the company, valued at approximately $88,196,122.70. 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 can be accessed through this hyperlink. Also, Director Theodoros Xenohristos sold 98,490 shares of the stock in a transaction 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 sale, the director now owns 424,846 shares of the company's stock, valued at approximately $53,432,881.42. This represents 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 sold 304,994 shares of company stock worth $38,310,084. 12.10% of the stock is owned by insiders.

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.