Wedbush Estimates CAVA Group’s FY2024 Earnings (NYSE:CAVA)

CAVA Group, Inc. (NYSE:CAVA) – Investment analysts at Wedbush increased their FY2024 EPS estimates for shares of CAVA Group in a report released on Wednesday, November 13th. Wedbush analyst N. Setyan now forecasts that the company will post earnings of $0.50 per share for the year, up from their prior estimate of $0.44. Wedbush has a “Outperform” rating and a $190.00 price objective on the stock. The consensus estimate for CAVA Group’s current full-year earnings is $0.46 per share. Wedbush also issued estimates for CAVA Group’s Q4 2024 earnings at $0.06 EPS, Q3 2025 earnings at $0.22 EPS and FY2025 earnings at $0.70 EPS.

A number of other brokerages have also recently commented on CAVA. Argus increased their price target on shares of CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. TD Cowen raised their price target on CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday. William Blair reiterated an “outperform” rating on shares of CAVA Group in a report on Wednesday. Loop Capital boosted their price target on CAVA Group from $122.00 to $147.00 and gave the company a “hold” rating in a research note on Thursday. Finally, Stifel Nicolaus boosted their price target on CAVA Group from $118.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $143.71.

CAVA Group Trading Up 2.1 %

CAVA stock opened at $141.23 on Thursday. The company’s 50 day moving average is $131.69 and its 200 day moving average is $104.24. The stock has a market cap of $16.15 billion, a price-to-earnings ratio of 307.02 and a beta of 3.23. CAVA Group has a 1-year low of $31.47 and a 1-year high of $172.43.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.11 by $0.04. CAVA Group had a net margin of 5.88% and a return on equity of 9.23%. The business had revenue of $243.82 million for the quarter, compared to the consensus estimate of $233.05 million. During the same period in the prior year, the firm earned $0.06 earnings per share. The company’s revenue was up 38.9% compared to the same quarter last year.

Insider Activity

In other CAVA Group news, Director Theodoros Xenohristos sold 98,490 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $53,432,881.42. This trade represents a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Tricia K. Tolivar sold 5,000 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.64, for a total value of $628,200.00. Following the sale, 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 have sold a total of 304,994 shares of company stock worth $38,310,084 over the last quarter. 12.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CAVA Group

Institutional investors have recently modified their holdings of the company. SpiderRock Advisors LLC grew its stake 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 purchasing an additional 39,319 shares in the last quarter. Xponance Inc. lifted its holdings in CAVA Group by 95.2% during the 2nd quarter. Xponance Inc. now owns 9,846 shares of the company’s stock worth $913,000 after buying an additional 4,803 shares during the last quarter. PFG Investments LLC lifted its holdings in CAVA Group by 36.8% during the 3rd quarter. PFG Investments LLC now owns 15,907 shares of the company’s stock worth $1,970,000 after buying an additional 4,275 shares during the last quarter. Intech Investment Management LLC purchased a new stake in CAVA Group during the 2nd quarter worth about $1,728,000. Finally, Aigen Investment Management LP purchased a new stake in CAVA Group during the 3rd quarter worth about $1,293,000. 73.15% of the stock is owned by institutional investors and hedge funds.

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.