CAVA Group (NYSE:CAVA) Issues Quarterly Earnings Results

CAVA Group (NYSE:CAVA) posted its earnings results on Tuesday. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01), Zacks reports. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%.

CAVA Group Trading Down 4.5 %

Shares of CAVA stock traded down $4.73 during trading hours on Tuesday, hitting $99.50. 6,836,374 shares of the company’s stock were exchanged, compared to its average volume of 2,316,769. The company has a market capitalization of $11.40 billion, a PE ratio of 216.29 and a beta of 3.25. CAVA Group has a 12-month low of $50.37 and a 12-month high of $172.43. The business’s 50 day simple moving average is $122.60 and its 200-day simple moving average is $125.90.

Insider Activity

In related news, CFO Tricia K. Tolivar sold 2,086 shares of CAVA Group stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total value of $248,609.48. Following the sale, the chief financial officer now owns 235,592 shares in the company, valued at $28,077,854.56. The trade was a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Adam David Phillips sold 615 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $76,499.85. Following the transaction, the chief accounting officer now owns 10,884 shares in the company, valued at $1,353,860.76. This represents a 5.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 651,784 shares of company stock valued at $96,522,922. Corporate insiders own 12.10% of the company’s stock.

Wall Street Analysts Forecast Growth

CAVA has been the subject of several recent analyst reports. Stifel Nicolaus boosted their price objective on shares of CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Morgan Stanley boosted their price target 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, November 14th. Piper Sandler increased their price objective on CAVA Group from $100.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Loop Capital boosted their target price on CAVA Group from $122.00 to $147.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Finally, JPMorgan Chase & Co. raised their price target on CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, CAVA Group has an average rating of “Moderate Buy” and an average target price of $140.60.

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.