CAVA Group (NYSE:CAVA) Posts 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01), Zacks reports. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The company had revenue of $227.40 million during the quarter, compared to the consensus estimate of $223.34 million.

CAVA Group Price Performance

NYSE CAVA opened at $99.50 on Wednesday. CAVA Group has a 12 month low of $50.37 and a 12 month high of $172.43. The company has a market capitalization of $11.40 billion, a P/E ratio of 216.29 and a beta of 3.25. The company’s 50 day simple moving average is $122.12 and its 200 day simple moving average is $125.97.

Insider Buying and Selling

In other CAVA Group news, insider Theodoros Xenohristos sold 851 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total transaction of $101,422.18. Following the sale, the insider now owns 358,995 shares in the company, valued at approximately $42,785,024.10. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronald M. Shaich sold 622,549 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now owns 6,307 shares of the company’s stock, valued at approximately $942,265.80. The trade was a 99.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 651,784 shares of company stock worth $96,522,922. Corporate insiders own 12.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Piper Sandler boosted their target price on shares of CAVA Group from $100.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Stifel Nicolaus boosted their price objective on CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. TD Cowen lifted their target price on CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Barclays dropped their price target on CAVA Group from $127.00 to $104.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, Robert W. Baird lifted their price objective on shares of CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.40.

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.