Q3 2024 EPS Estimates for CAVA Group, Inc. Boosted by Analyst (NYSE:CAVA)

CAVA Group, Inc. (NYSE:CAVA) – William Blair upped their Q3 2024 earnings estimates for shares of CAVA Group in a research report issued to clients and investors on Friday, August 23rd. William Blair analyst S. Zackfia now expects that the company will earn $0.08 per share for the quarter, up from their prior forecast of $0.07. The consensus estimate for CAVA Group’s current full-year earnings is $0.34 per share. William Blair also issued estimates for CAVA Group’s FY2024 earnings at $0.39 EPS, FY2025 earnings at $0.53 EPS and FY2026 earnings at $0.73 EPS.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Thursday, August 22nd. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. The firm had revenue of $233.50 million for the quarter, compared to the consensus estimate of $219.47 million. CAVA Group had a net margin of 3.75% and a return on equity of 5.18%. The firm’s revenue was up 35.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.21 EPS.

CAVA has been the topic of a number of other reports. JPMorgan Chase & Co. increased their target price on shares of CAVA Group from $77.00 to $90.00 and gave the stock a “neutral” rating in a report on Monday. Wedbush increased their target price on shares of CAVA Group from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday. Barclays increased their target price on shares of CAVA Group from $72.00 to $95.00 and gave the stock an “equal weight” rating in a report on Friday. Robert W. Baird increased their target price on shares of CAVA Group from $105.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Morgan Stanley increased their price objective on shares of CAVA Group from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $105.08.

CAVA Group Stock Performance

Shares of NYSE:CAVA opened at $125.80 on Monday. The stock has a market capitalization of $14.34 billion, a price-to-earnings ratio of 306.83 and a beta of 3.27. CAVA Group has a 1-year low of $29.05 and a 1-year high of $128.18. The company’s fifty day moving average is $90.49 and its two-hundred day moving average is $76.70.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Montag A & Associates Inc. acquired a new stake in CAVA Group in the fourth quarter valued at approximately $26,000. Jamison Private Wealth Management Inc. acquired a new stake in shares of CAVA Group in the second quarter worth $28,000. Nemes Rush Group LLC acquired a new stake in shares of CAVA Group in the second quarter worth $28,000. CWM LLC lifted its stake in shares of CAVA Group by 101.2% in the first quarter. CWM LLC now owns 505 shares of the company’s stock worth $35,000 after buying an additional 254 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC acquired a new stake in shares of CAVA Group in the second quarter worth $36,000. 73.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, insider Kenneth Robert Bertram sold 5,250 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $95.28, for a total transaction of $500,220.00. Following the transaction, the insider now owns 67,005 shares of the company’s stock, valued at approximately $6,384,236.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Kenneth Robert Bertram sold 5,250 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $95.28, for a total transaction of $500,220.00. Following the completion of the transaction, the insider now owns 67,005 shares in the company, valued at approximately $6,384,236.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ronald M. Shaich sold 1,231,979 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $87.25, for a total transaction of $107,490,167.75. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $436,250. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,420,564 shares of company stock valued at $124,690,835.

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.