CAVA Group (NYSE:CAVA) Releases Earnings Results, Beats Estimates By $0.04 EPS

CAVA Group (NYSE:CAVA) posted its earnings results on Tuesday. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04, Briefing.com reports. The firm had revenue of $243.82 million during 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%. CAVA Group’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same period last year, the firm posted $0.06 earnings per share.

CAVA Group Price Performance

Shares of NYSE:CAVA opened at $138.29 on Friday. The business’s 50-day moving average is $130.75 and its 200 day moving average is $103.50. CAVA Group has a 1 year low of $31.47 and a 1 year high of $172.43. The firm has a market capitalization of $15.81 billion, a P/E ratio of 300.63 and a beta of 3.23.

Insiders Place Their Bets

In related news, CFO Tricia K. Tolivar sold 5,000 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.64, for a total value of $628,200.00. Following the transaction, the chief financial officer now directly owns 292,600 shares of the company’s stock, valued at $36,762,264. This represents a 1.68 % decrease in their position. The transaction 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 CAVA Group 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 sale, 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 304,994 shares of company stock valued at $38,310,084. 12.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CAVA has been the subject of several research reports. Morgan Stanley increased their price objective on shares of CAVA Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a research report on Thursday. Stifel Nicolaus increased their price target on shares of CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday. Wedbush boosted their price objective on CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday. Loop Capital raised their price objective on CAVA Group from $122.00 to $147.00 and gave the company a “hold” rating in a research note on Thursday. Finally, William Blair reissued an “outperform” rating on shares of CAVA Group in a research 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 data from MarketBeat, CAVA Group has an average rating of “Moderate Buy” and a consensus target price of $140.14.

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.