FY2024 EPS Estimates for CAVA Group Raised by William Blair

CAVA Group, Inc. (NYSE:CAVA) – Equities research analysts at William Blair upped their FY2024 earnings per share (EPS) estimates for CAVA Group in a research note issued on Wednesday, November 13th. William Blair analyst S. Zackfia now expects that the company will earn $0.49 per share for the year, up from their previous estimate of $0.40. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for CAVA Group’s current full-year earnings is $0.44 per share.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.04. The company had revenue of $243.82 million for the quarter, compared to analysts’ expectations of $233.05 million. CAVA Group had a return on equity of 9.23% and a net margin of 5.88%. CAVA Group’s revenue was up 38.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.06 earnings per share.

Several other research analysts have also recently issued reports on the stock. TD Cowen increased their target price on shares of CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday. TD Securities lifted their price objective on shares of CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Argus upped their target price on CAVA Group from $104.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Morgan Stanley lifted their price target on CAVA Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, UBS Group initiated coverage on CAVA Group in a research report on Friday, September 27th. They set a “neutral” rating and a $135.00 price objective on the stock. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, CAVA Group currently has an average rating of “Moderate Buy” and a consensus target price of $140.14.

CAVA Group Trading Down 6.1 %

CAVA opened at $138.29 on Friday. The company has a market capitalization of $15.81 billion, a price-to-earnings ratio of 298.04 and a beta of 3.23. CAVA Group has a 12-month low of $31.47 and a 12-month high of $172.43. The business’s fifty day simple moving average is $130.75 and its 200-day simple moving average is $103.50.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CAVA. SpiderRock Advisors LLC boosted its stake in shares of CAVA Group by 8.9% during the 3rd quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock worth $59,364,000 after acquiring an additional 39,319 shares in the last quarter. Xponance Inc. raised its holdings in CAVA Group by 95.2% in the 2nd quarter. Xponance Inc. now owns 9,846 shares of the company’s stock worth $913,000 after purchasing an additional 4,803 shares during the period. PFG Investments LLC boosted its position in CAVA Group by 36.8% during the third quarter. PFG Investments LLC now owns 15,907 shares of the company’s stock worth $1,970,000 after purchasing an additional 4,275 shares in the last quarter. Intech Investment Management LLC acquired a new stake in CAVA Group in the second quarter valued at approximately $1,728,000. Finally, Aigen Investment Management LP acquired a new position in shares of CAVA Group during the 3rd quarter worth approximately $1,293,000. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other CAVA Group news, Director Theodoros Xenohristos sold 98,490 shares of CAVA Group 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 transaction, the director now owns 424,846 shares in the company, valued at approximately $53,432,881.42. This trade represents a 18.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Brett Schulman sold 201,504 shares of the company’s 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 completion of the sale, the chief executive officer now owns 702,590 shares in the company, valued at $88,196,122.70. The trade was a 22.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 304,994 shares of company stock valued at $38,310,084. 12.10% of the stock is owned by company 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.