William Blair Forecasts Increased Earnings for CAVA Group

CAVA Group, Inc. (NYSE:CAVA) – William Blair increased their FY2024 earnings per share (EPS) estimates for shares of CAVA Group in a report issued on Wednesday, November 13th. William Blair analyst S. Zackfia now expects that the company will post earnings of $0.49 per share for the year, up from their previous estimate of $0.40. William Blair has a “Outperform” rating on the stock. The consensus estimate for CAVA Group’s current full-year earnings is $0.46 per share.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. CAVA Group had a return on equity of 9.23% and a net margin of 5.88%. The firm had revenue of $243.82 million for the quarter, compared to analyst estimates of $233.05 million. During the same period in the previous year, the company posted $0.06 earnings per share. The business’s revenue was up 38.9% on a year-over-year basis.

Several other equities analysts also recently weighed in on CAVA. JPMorgan Chase & Co. raised their price target on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday. Citigroup raised their target price on shares of CAVA Group from $140.00 to $163.00 and gave the stock a “neutral” rating in a research note on Wednesday. Argus lifted their price objective on CAVA Group from $104.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Barclays raised their target price on CAVA Group from $113.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, UBS Group started coverage on shares of CAVA Group in a research report on Friday, September 27th. They set a “neutral” rating and a $135.00 price target on the stock. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $143.71.

CAVA Group Stock Up 2.2 %

Shares of CAVA opened at $141.38 on Friday. CAVA Group has a 52-week low of $31.47 and a 52-week high of $172.43. The stock has a market cap of $16.16 billion, a PE ratio of 307.35 and a beta of 3.23. The firm’s fifty day moving average is $131.69 and its two-hundred day moving average is $104.46.

Hedge Funds Weigh In On CAVA Group

Several institutional investors have recently bought and sold shares of CAVA. Capital Research Global Investors lifted its position in shares of CAVA Group by 21.6% during the first quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock worth $372,059,000 after purchasing an additional 942,054 shares in the last quarter. Vanguard Group Inc. lifted its holdings in CAVA Group by 215.7% during the 1st quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock worth $346,330,000 after buying an additional 3,377,840 shares in the last quarter. FMR LLC boosted its position in CAVA Group by 0.9% in the 3rd quarter. FMR LLC now owns 3,485,033 shares of the company’s stock valued at $431,621,000 after buying an additional 29,668 shares during the period. Two Sigma Advisers LP grew its stake in shares of CAVA Group by 17.0% in the third quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock worth $273,820,000 after acquiring an additional 321,800 shares in the last quarter. Finally, State Street Corp increased its position in shares of CAVA Group by 33.3% during the third quarter. State Street Corp now owns 1,267,333 shares of the company’s stock worth $156,959,000 after acquiring an additional 316,514 shares during the period. 73.15% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other CAVA Group news, CEO Brett Schulman sold 201,504 shares of the business’s stock in a transaction that occurred on 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 owns 702,590 shares of the company’s stock, valued at $88,196,122.70. The trade was a 22.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 owns 292,600 shares in the company, valued at $36,762,264. This trade represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 304,994 shares of company stock valued at $38,310,084 over the last 90 days. 12.10% of the stock is owned by company 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.