CAVA Group (NYSE:CAVA) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

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

CAVA Group Trading Down 2.9 %

Shares of NYSE:CAVA opened at $143.06 on Thursday. CAVA Group has a 12-month low of $31.47 and a 12-month high of $172.43. The firm has a market cap of $16.35 billion, a PE ratio of 320.24 and a beta of 3.23. The company has a fifty day simple moving average of $130.75 and a 200 day simple moving average of $103.50.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Jefferies Financial Group lifted their price objective on CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. William Blair reaffirmed an “outperform” rating on shares of CAVA Group in a research report on Wednesday. TD Cowen increased their price objective on shares of CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday. Argus upped their price target on shares of CAVA Group from $104.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, Loop Capital raised their price objective on CAVA Group from $80.00 to $122.00 and gave the company a “hold” rating in a research report on Monday, August 26th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, CAVA Group has a consensus rating of “Moderate Buy” and a consensus price target of $136.57.

Insiders Place Their Bets

In related news, CEO Brett Schulman sold 201,504 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 702,590 shares of the company’s stock, valued at $88,196,122.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other CAVA Group news, CEO Brett Schulman sold 201,504 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the completion of the sale, the chief executive officer now owns 702,590 shares in the company, valued at $88,196,122.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Tricia K. Tolivar sold 5,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.64, for a total transaction of $628,200.00. Following the sale, the chief financial officer now directly owns 292,600 shares in the company, valued at $36,762,264. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 304,994 shares of company stock valued at $38,310,084 in the last ninety days. Corporate insiders own 12.10% of the company’s stock.

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.