Wedbush Analysts Increase Earnings Estimates for CAVA Group, Inc. (NYSE:CAVA)

CAVA Group, Inc. (NYSE:CAVA - Free Report) - Wedbush upped their Q1 2024 earnings per share estimates for shares of CAVA Group in a report issued on Tuesday, April 16th. Wedbush analyst N. Setyan now anticipates that the company will earn $0.06 per share for the quarter, up from their prior forecast of $0.05. Wedbush has a "Outperform" rating and a $74.00 price objective on the stock. The consensus estimate for CAVA Group's current full-year earnings is $0.24 per share. Wedbush also issued estimates for CAVA Group's Q2 2024 earnings at $0.13 EPS, FY2024 earnings at $0.29 EPS, Q1 2025 earnings at $0.08 EPS, Q2 2025 earnings at $0.15 EPS, Q3 2025 earnings at $0.13 EPS and FY2025 earnings at $0.38 EPS.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its quarterly earnings data on Monday, February 26th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. The firm had revenue of $175.50 million for the quarter, compared to analyst estimates of $240.03 million. CAVA Group had a return on equity of 4.28% and a net margin of 1.82%. CAVA Group's revenue for the quarter was up 52.6% compared to the same quarter last year.

Other equities research analysts have also recently issued research reports about the company. TD Cowen reiterated a "buy" rating and issued a $63.00 price objective on shares of CAVA Group in a report on Wednesday, April 10th. Citigroup raised their target price on CAVA Group from $49.00 to $60.00 and gave the company a "neutral" rating in a research note on Wednesday, February 28th. Robert W. Baird raised their target price on CAVA Group from $54.00 to $62.00 and gave the company an "outperform" rating in a research note on Thursday, February 15th. Argus upgraded CAVA Group from a "hold" rating to a "buy" rating and set a $70.00 target price for the company in a research note on Wednesday, April 10th. Finally, Barclays began coverage on CAVA Group in a research note on Monday. They set an "equal weight" rating and a $58.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $60.42.

CAVA Group Trading Down 2.1 %

NYSE CAVA traded down $1.29 on Wednesday, hitting $61.57. The company's stock had a trading volume of 1,651,431 shares, compared to its average volume of 2,236,666. CAVA Group has a 52-week low of $29.05 and a 52-week high of $71.60. The company's 50-day simple moving average is $60.95 and its 200 day simple moving average is $46.06.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, Director Theodoros Xenohristos sold 47,239 shares of the business's stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $68.29, for a total transaction of $3,225,951.31. Following the completion of the sale, the director now owns 526,521 shares of the company's stock, valued at $35,956,119.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the business's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $57.20, for a total value of $85,800,000.00. Following the transaction, the insider now directly owns 4,457,634 shares in the company, valued at $254,976,664.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Theodoros Xenohristos sold 47,239 shares of the business's stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $68.29, for a total value of $3,225,951.31. Following the completion of the transaction, the director now owns 526,521 shares in the company, valued at $35,956,119.09. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,547,239 shares of company stock valued at $221,525,951.

Hedge Funds Weigh In On CAVA Group

Several large investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio lifted its position in shares of CAVA Group by 2.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 6,763 shares of the company's stock valued at $291,000 after acquiring an additional 185 shares in the last quarter. CWM LLC lifted its position 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 in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of CAVA Group by 190.0% in the third quarter. PNC Financial Services Group Inc. now owns 870 shares of the company's stock worth $27,000 after buying an additional 570 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of CAVA Group by 1.4% in the fourth quarter. Nuveen Asset Management LLC now owns 42,679 shares of the company's stock worth $1,834,000 after buying an additional 570 shares in the last quarter. Finally, Montag A & Associates Inc. purchased a new stake in shares of CAVA Group in the fourth quarter worth about $26,000. 73.15% of the stock is currently 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.