Wedbush Comments on CAVA Group, Inc.'s Q4 2024 Earnings (NYSE:CAVA)

CAVA Group, Inc. (NYSE:CAVA - Free Report) - Investment analysts at Wedbush upped their Q4 2024 earnings per share estimates for shares of CAVA Group in a research note issued on Tuesday, April 16th. Wedbush analyst N. Setyan now anticipates that the company will post earnings per share of $0.00 for the quarter, up from their previous estimate of ($0.01). 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 $0.25 per share. Wedbush also issued estimates for CAVA Group's Q4 2025 earnings at $0.02 EPS.

Other equities analysts have also issued research reports about the company. Argus upgraded CAVA Group from a "hold" rating to a "buy" rating and set a $70.00 price objective for the company in a research note on Wednesday, April 10th. William Blair restated an "outperform" rating on shares of CAVA Group in a research note on Tuesday, February 27th. Barclays assumed coverage on shares of CAVA Group in a research note on Monday. They set an "equal weight" rating and a $58.00 target price for the company. Piper Sandler increased their target price on shares of CAVA Group from $46.00 to $63.00 and gave the company an "overweight" rating in a report on Wednesday, February 28th. Finally, Citigroup lifted their price target on shares of CAVA Group from $49.00 to $60.00 and gave the company a "neutral" rating in a report on Wednesday, February 28th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.42.

CAVA Group Stock Down 0.1 %

NYSE CAVA traded down $0.06 during midday trading on Thursday, hitting $61.50. 1,062,979 shares of the company traded hands, compared to its average volume of 2,221,032. 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.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CAVA. Headlands Technologies LLC bought a new stake in CAVA Group in the 3rd quarter worth approximately $26,000. Montag A & Associates Inc. purchased a new stake in shares of CAVA Group in the 4th quarter worth $26,000. PNC Financial Services Group Inc. lifted its stake in shares of CAVA Group by 190.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 870 shares of the company's stock worth $27,000 after purchasing an additional 570 shares during the last quarter. Clearstead Advisors LLC purchased a new stake in shares of CAVA Group during the 3rd quarter worth $31,000. Finally, CWM LLC lifted its stake in shares of CAVA Group by 101.2% during the 1st quarter. CWM LLC now owns 505 shares of the company's stock worth $35,000 after purchasing an additional 254 shares during the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at CAVA Group

In other CAVA Group news, Director Theodoros Xenohristos sold 47,239 shares of the firm's stock in a transaction on 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 transaction, the director now directly owns 526,521 shares in the company, valued at approximately $35,956,119.09. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the company's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $57.20, for a total transaction of $85,800,000.00. Following the completion of the transaction, the insider now owns 4,457,634 shares in the company, valued at $254,976,664.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Theodoros Xenohristos sold 47,239 shares of the company's stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $68.29, for a total value of $3,225,951.31. Following the completion of the sale, the director now directly owns 526,521 shares in the company, valued at $35,956,119.09. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,547,239 shares of company stock valued at $221,525,951.

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.