FY2024 EPS Estimates for CAVA Group Lifted by William Blair

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

CAVA has been the subject of a number of other reports. Piper Sandler upped their target price on CAVA Group from $100.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday. Wedbush increased their price objective on shares of CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a research note on Wednesday. Morgan Stanley lifted their target price 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. Citigroup increased their price target on shares of CAVA Group from $140.00 to $163.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Jefferies Financial Group raised their price target on shares of CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. 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.com, CAVA Group presently has a consensus rating of “Moderate Buy” and an average target price of $143.71.

CAVA Group Price Performance

NYSE CAVA opened at $141.23 on Friday. The company’s fifty day moving average is $131.69 and its two-hundred day moving average is $104.24. CAVA Group has a 52-week low of $31.47 and a 52-week high of $172.43. The firm has a market capitalization of $16.15 billion, a price-to-earnings ratio of 307.02 and a beta of 3.23.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $233.05 million. During the same quarter in the prior year, the company earned $0.06 EPS. The firm’s revenue for the quarter was up 38.9% compared to the same quarter last year.

Institutional Investors Weigh In On CAVA Group

Several hedge funds have recently added to or reduced their stakes in the business. SpiderRock Advisors LLC increased its position in CAVA Group by 8.9% during the 3rd quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock worth $59,364,000 after buying an additional 39,319 shares during the period. Xponance Inc. increased its position in CAVA Group by 95.2% during the second quarter. Xponance Inc. now owns 9,846 shares of the company’s stock worth $913,000 after acquiring an additional 4,803 shares during the period. PFG Investments LLC raised its stake in CAVA Group by 36.8% in the 3rd quarter. PFG Investments LLC now owns 15,907 shares of the company’s stock worth $1,970,000 after purchasing an additional 4,275 shares in the last quarter. Intech Investment Management LLC bought a new stake in CAVA Group in the 2nd quarter valued at about $1,728,000. Finally, Aigen Investment Management LP acquired a new position in shares of CAVA Group during the 3rd quarter worth approximately $1,293,000. Institutional investors and hedge funds own 73.15% of the company’s stock.

Insider Transactions at CAVA Group

In related news, Director Theodoros Xenohristos sold 98,490 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 424,846 shares in the company, valued at approximately $53,432,881.42. The trade was a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Tricia K. Tolivar sold 5,000 shares of CAVA Group stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.64, for a total transaction of $628,200.00. Following the completion of the transaction, 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 1.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 304,994 shares of company stock worth $38,310,084 in the last three months. Insiders own 12.10% of the company’s stock.

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.