Research Analysts Set Expectations for CAVA Group, Inc.’s Q1 2024 Earnings (NYSE:CAVA)

CAVA Group, Inc. (NYSE:CAVA) – Stock analysts at Wedbush boosted their Q1 2024 EPS estimates for CAVA Group in a research report issued on Tuesday, April 16th. Wedbush analyst N. Setyan now forecasts that the company will post earnings per share of $0.06 for the quarter, up from their previous forecast of $0.05. Wedbush currently has a “Outperform” rating and a $74.00 target price 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.

Other analysts also recently issued reports about the stock. Citigroup boosted their target price on shares of CAVA Group from $49.00 to $60.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Argus raised CAVA Group from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a report on Wednesday, April 10th. William Blair reissued an “outperform” rating on shares of CAVA Group in a research note on Tuesday, February 27th. Morgan Stanley boosted their target price on CAVA Group from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Finally, JPMorgan Chase & Co. upped their target price on CAVA Group from $50.00 to $64.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $60.42.

CAVA Group Trading Down 2.1 %

Shares of CAVA Group stock opened at $61.57 on Wednesday. CAVA Group has a 52 week low of $29.05 and a 52 week high of $71.60. The company’s 50-day moving average price is $60.95 and its two-hundred day moving average price is $46.06.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Monday, February 26th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. CAVA Group had a return on equity of 4.28% and a net margin of 1.82%. The company had revenue of $175.50 million for the quarter, compared to analysts’ expectations of $240.03 million. The firm’s revenue for the quarter was up 52.6% on a year-over-year basis.

Institutional Trading of CAVA Group

Several large investors have recently modified their holdings of CAVA. PNC Financial Services Group Inc. boosted its stake in CAVA Group by 190.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock valued at $27,000 after purchasing an additional 570 shares during the period. State Board of Administration of Florida Retirement System acquired a new stake in shares of CAVA Group in the third quarter worth $449,000. Brandywine Global Investment Management LLC bought a new position in CAVA Group during the third quarter worth $1,937,000. New York State Common Retirement Fund raised its stake in CAVA Group by 172.5% during the 3rd quarter. New York State Common Retirement Fund now owns 46,377 shares of the company’s stock valued at $1,421,000 after purchasing an additional 29,358 shares during the last quarter. Finally, Raymond James & Associates boosted its holdings in CAVA Group by 299.4% in the 4th quarter. Raymond James & Associates now owns 166,946 shares of the company’s stock valued at $7,175,000 after purchasing an additional 125,143 shares during the period. 73.15% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Theodoros Xenohristos sold 47,239 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were 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 directly owns 526,521 shares in the company, valued at $35,956,119.09. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director International S.C.A. Artal sold 2,000,000 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $66.25, for a total transaction of $132,500,000.00. Following the transaction, the director now owns 26,507,990 shares in the company, valued at approximately $1,756,154,337.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 3,547,239 shares of company stock worth $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.