Q3 Earnings Estimate for CAVA Group Issued By William Blair

CAVA Group, Inc. (NYSE:CAVA) – Equities research analysts at William Blair boosted their Q3 2024 earnings per share (EPS) estimates for CAVA Group in a research note issued on Wednesday, October 23rd. William Blair analyst S. Zackfia now expects that the company will earn $0.10 per share for the quarter, up from their previous estimate of $0.08. The consensus estimate for CAVA Group’s current full-year earnings is $0.43 per share. William Blair also issued estimates for CAVA Group’s Q4 2024 earnings at $0.01 EPS, FY2024 earnings at $0.40 EPS, FY2025 earnings at $0.56 EPS and FY2026 earnings at $0.76 EPS.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Thursday, August 22nd. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.13 by $0.04. CAVA Group had a return on equity of 7.37% and a net margin of 5.04%. The business had revenue of $233.50 million for the quarter, compared to the consensus estimate of $219.47 million. During the same quarter in the prior year, the business earned $0.21 earnings per share. CAVA Group’s revenue for the quarter was up 35.1% on a year-over-year basis.

Several other equities analysts also recently commented on CAVA. TD Securities upped their price objective on CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. increased their target price on CAVA Group from $77.00 to $90.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Stifel Nicolaus increased their target price on CAVA Group from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Argus increased their target price on CAVA Group from $104.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, Barclays increased their target price on CAVA Group from $95.00 to $113.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, CAVA Group currently has an average rating of “Moderate Buy” and a consensus price target of $116.93.

CAVA Group Trading Up 1.5 %

CAVA Group stock opened at $138.65 on Friday. CAVA Group has a 12 month low of $29.66 and a 12 month high of $139.50. The business’s 50 day simple moving average is $122.89 and its 200 day simple moving average is $95.81. The company has a market cap of $15.81 billion, a price-to-earnings ratio of 338.17 and a beta of 3.33.

Institutional Investors Weigh In On CAVA Group

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of CAVA Group by 215.7% in the first quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock worth $346,330,000 after buying an additional 3,377,840 shares during the period. Capital Research Global Investors increased its holdings in shares of CAVA Group by 21.6% in the first quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock worth $372,059,000 after buying an additional 942,054 shares during the period. Lord Abbett & CO. LLC increased its holdings in shares of CAVA Group by 55.9% in the first quarter. Lord Abbett & CO. LLC now owns 1,373,749 shares of the company’s stock worth $96,231,000 after buying an additional 492,667 shares during the period. Renaissance Technologies LLC increased its holdings in shares of CAVA Group by 102.5% in the second quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock worth $82,770,000 after buying an additional 451,800 shares during the period. Finally, Driehaus Capital Management LLC increased its holdings in shares of CAVA Group by 51.8% in the second quarter. Driehaus Capital Management LLC now owns 732,603 shares of the company’s stock worth $67,949,000 after buying an additional 250,110 shares during the period. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Insider Activity at CAVA Group

In related news, CEO Brett Schulman sold 201,504 shares of CAVA Group stock in a transaction on Monday, August 26th. The stock was 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 of the company’s stock, valued at approximately $88,196,122.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other CAVA Group news, Director Theodoros Xenohristos sold 98,490 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 424,846 shares in the company, valued at $53,432,881.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brett Schulman sold 201,504 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.53, for a total value of $25,294,797.12. Following 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 304,994 shares of company stock valued at $38,310,084. Company 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.