Wedbush Has Positive Forecast for CAVA Group FY2024 Earnings

CAVA Group, Inc. (NYSE:CAVA) – Equities researchers at Wedbush increased their FY2024 EPS estimates for CAVA Group in a report issued on Friday, November 1st. Wedbush analyst N. Setyan now forecasts that the company will earn $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 $0.43 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 posted its quarterly earnings data on Thursday, August 22nd. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.04. The firm had revenue of $233.50 million for the quarter, compared to analysts’ expectations of $219.47 million. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. The company’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.21 EPS.

Several other analysts have also recently commented on the stock. Loop Capital raised their price target on shares of CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a report on Monday, August 26th. Citigroup lifted their target price on shares of CAVA Group from $115.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Morgan Stanley downgraded shares of CAVA Group from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $90.00 to $110.00 in a research note on Thursday, August 29th. Argus increased their price objective on CAVA Group from $104.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Finally, TD Securities boosted their target price on CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $118.71.

CAVA Group Trading Down 1.5 %

Shares of CAVA stock opened at $131.53 on Monday. The company has a market capitalization of $15.04 billion, a price-to-earnings ratio of 355.49 and a beta of 3.23. CAVA Group has a 1-year low of $29.66 and a 1-year high of $141.25. The stock’s fifty day simple moving average is $126.65 and its 200-day simple moving average is $99.32.

Insider Buying and Selling

In other CAVA Group news, CEO Brett Schulman sold 201,504 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were 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 directly owns 702,590 shares in the company, valued at $88,196,122.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other CAVA Group news, CEO Brett Schulman sold 201,504 shares of CAVA Group 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 transaction, the chief executive officer now directly 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 sale was disclosed in a filing with the SEC, which is available at 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 value of $628,200.00. Following the completion of the sale, the chief financial officer now directly owns 292,600 shares of the company’s stock, valued at $36,762,264. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 304,994 shares of company stock worth $38,310,084 in the last quarter. 12.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CAVA. Private Advisor Group LLC increased its stake in CAVA Group by 69.1% during the first quarter. Private Advisor Group LLC now owns 33,619 shares of the company’s stock valued at $2,355,000 after acquiring an additional 13,739 shares during the period. Xponance Inc. increased its position in shares of CAVA Group by 95.2% during the second quarter. Xponance Inc. now owns 9,846 shares of the company’s stock valued at $913,000 after purchasing an additional 4,803 shares during the period. PFG Investments LLC increased its position in shares of CAVA Group by 36.8% during the third quarter. PFG Investments LLC now owns 15,907 shares of the company’s stock valued at $1,970,000 after purchasing an additional 4,275 shares during the period. Intech Investment Management LLC acquired a new position in shares of CAVA Group in the second quarter valued at $1,728,000. Finally, Nepsis Inc. lifted its position in CAVA Group by 4.5% in the third quarter. Nepsis Inc. now owns 147,507 shares of the company’s stock worth $18,269,000 after purchasing an additional 6,380 shares during the period. Institutional investors own 73.15% of the company’s stock.

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.