What is Wedbush’s Forecast for CAVA Group FY2024 Earnings?

CAVA Group, Inc. (NYSE:CAVA) – Research analysts at Wedbush boosted their FY2024 earnings estimates for shares of CAVA Group in a report released on Friday, November 1st. Wedbush analyst N. Setyan now anticipates that the company will post earnings of $0.44 per share for the year, up from their prior estimate of $0.42. Wedbush has a “Outperform” rating and a $120.00 price objective on the stock. The consensus estimate for CAVA Group’s current full-year earnings is $0.44 per share. Wedbush also issued estimates for CAVA Group’s Q2 2025 earnings at $0.24 EPS, Q4 2025 earnings at $0.06 EPS and FY2025 earnings at $0.62 EPS.

CAVA Group (NYSE:CAVA) last announced its earnings results on Thursday, August 22nd. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. The firm had revenue of $233.50 million for the quarter, compared to analysts’ expectations of $219.47 million. During the same quarter in the previous year, the business posted $0.21 EPS. The company’s quarterly revenue was up 35.1% on a year-over-year basis.

CAVA has been the topic of a number of other research reports. TD Securities upped their price target on shares of CAVA Group from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. UBS Group initiated coverage on shares of CAVA Group in a research note on Friday, September 27th. They set a “neutral” rating and a $135.00 target price on the stock. Argus upped their target price on shares of CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. JPMorgan Chase & Co. upped their target price on shares of CAVA Group from $77.00 to $90.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Finally, Loop Capital upped their target price on shares of CAVA Group from $80.00 to $122.00 and gave the company a “hold” rating in a research note on Monday, August 26th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.36.

CAVA Group Trading Up 0.4 %

Shares of CAVA stock opened at $132.62 on Monday. The stock has a market cap of $15.16 billion, a PE ratio of 358.43 and a beta of 3.23. The company’s fifty day moving average price is $127.06 and its 200-day moving average price is $100.33. CAVA Group has a 12 month low of $29.66 and a 12 month high of $141.25.

Insider Buying and Selling

In related news, Director Theodoros Xenohristos sold 98,490 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.77, for a total value of $12,387,087.30. Following the completion of the sale, the director now directly owns 424,846 shares of the company’s stock, valued at approximately $53,432,881.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other CAVA Group news, Director Theodoros Xenohristos sold 98,490 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the completion of the sale, the director now directly owns 424,846 shares of the company’s stock, valued at $53,432,881.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Tricia K. Tolivar sold 5,000 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.64, for a total transaction of $628,200.00. Following the sale, the chief financial officer now directly owns 292,600 shares of the company’s stock, valued at approximately $36,762,264. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 304,994 shares of company stock valued at $38,310,084. 12.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CAVA Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Jamison Private Wealth Management Inc. bought a new position in shares of CAVA Group during the 2nd quarter valued at approximately $28,000. Nemes Rush Group LLC bought a new position in shares of CAVA Group during the 2nd quarter valued at approximately $28,000. Mark Sheptoff Financial Planning LLC bought a new position in shares of CAVA Group during the 2nd quarter valued at approximately $36,000. Headlands Technologies LLC bought a new position in shares of CAVA Group during the 2nd quarter valued at approximately $37,000. Finally, GAMMA Investing LLC boosted its position in shares of CAVA Group by 68.3% during the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock valued at $38,000 after acquiring an additional 125 shares during the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

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.