CAVA Group (NYSE:CAVA) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

CAVA Group (NYSE:CAVA) issued its quarterly earnings results on Tuesday. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01), Zacks reports. The business had revenue of $227.40 million for the quarter, compared to analysts’ expectations of $223.34 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%.

CAVA Group Trading Down 4.5 %

Shares of CAVA Group stock opened at $99.50 on Wednesday. The firm has a fifty day simple moving average of $122.12 and a 200-day simple moving average of $125.97. The stock has a market capitalization of $11.40 billion, a price-to-earnings ratio of 216.29 and a beta of 3.25. CAVA Group has a 1-year low of $50.37 and a 1-year high of $172.43.

Analyst Ratings Changes

CAVA has been the topic of a number of research reports. Stifel Nicolaus upped their target price on CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Barclays dropped their price objective on shares of CAVA Group from $127.00 to $104.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Piper Sandler lifted their target price on shares of CAVA Group from $100.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Sanford C. Bernstein began coverage on shares of CAVA Group in a research note on Wednesday, November 20th. They issued a “market perform” rating and a $145.00 price target on the stock. Finally, Wedbush reiterated an “outperform” rating and set a $150.00 price objective on shares of CAVA Group in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $136.40.

Insider Activity at CAVA Group

In other news, insider Kenneth Robert Bertram sold 678 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $84,336.42. Following the completion of the sale, the insider now directly owns 57,312 shares of the company’s stock, valued at approximately $7,129,039.68. This represents a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronald M. Shaich sold 622,549 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $149.40, for a total transaction of $93,008,820.60. Following the transaction, the director now directly owns 6,307 shares in the company, valued at $942,265.80. This trade represents a 99.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 651,784 shares of company stock worth $96,522,922. 12.10% of the stock is owned by insiders.

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.