CAVA Group (NYSE:CAVA) Issues Quarterly Earnings Results

CAVA Group (NYSE:CAVA) posted its earnings results on Tuesday. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04, Briefing.com reports. The company had revenue of $243.82 million during the quarter, compared to the consensus estimate of $233.05 million. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. The firm’s quarterly revenue was up 38.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.06 earnings per share.

CAVA Group Stock Up 9.4 %

Shares of NYSE:CAVA traded up $13.64 during midday trading on Wednesday, hitting $158.67. 5,698,957 shares of the stock traded hands, compared to its average volume of 2,704,118. CAVA Group has a one year low of $31.41 and a one year high of $172.43. The business’s 50 day moving average is $130.09 and its two-hundred day moving average is $103.20. The stock has a market capitalization of $18.14 billion, a PE ratio of 436.54 and a beta of 3.23.

Analyst Ratings Changes

Several research analysts have commented on CAVA shares. UBS Group began coverage on shares of CAVA Group in a report on Friday, September 27th. They set a “neutral” rating and a $135.00 price target for the company. Jefferies Financial Group upped their target price on shares of CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Wedbush raised their price target on CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Stifel Nicolaus raised their target price on shares of CAVA Group from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $128.21.

Insiders Place Their Bets

In other news, 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 completion of the transaction, the chief executive officer now owns 702,590 shares of the company’s stock, valued at $88,196,122.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Brett Schulman sold 201,504 shares of the stock in a transaction dated Monday, August 26th. The stock was 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 in the company, valued at approximately $88,196,122.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Tricia K. Tolivar sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.64, for a total value of $628,200.00. Following the transaction, the chief financial officer now owns 292,600 shares of the company’s stock, valued at $36,762,264. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 304,994 shares of company stock worth $38,310,084. 12.10% of the stock is currently owned by corporate 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.