CAVA Group (NYSE:CAVA) Releases Earnings Results, Beats Expectations By $0.04 EPS

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

CAVA Group Price Performance

Shares of NYSE CAVA opened at $138.29 on Friday. The stock has a market cap of $15.81 billion, a PE ratio of 300.63 and a beta of 3.23. CAVA Group has a 1 year low of $31.47 and a 1 year high of $172.43. The firm has a fifty day moving average price of $130.75 and a 200-day moving average price of $103.50.

Insider Activity at CAVA Group

In related news, Director Theodoros Xenohristos sold 98,490 shares of the stock in a transaction dated Monday, August 26th. The stock was 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 owns 424,846 shares in the company, valued at approximately $53,432,881.42. This trade represents a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the chief executive officer now directly owns 702,590 shares in the company, valued at approximately $88,196,122.70. This represents a 22.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 304,994 shares of company stock worth $38,310,084. 12.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. TD Securities increased 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. Argus increased their price objective on CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Barclays boosted their target price on CAVA Group from $113.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Citigroup raised their price target on shares of CAVA Group from $140.00 to $163.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Wedbush boosted their price objective on shares of CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $140.14.

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.