CAVA Group (NYSE:CAVA) Issues Quarterly Earnings Results

by · The Markets Daily

CAVA Group (NYSE:CAVA – Get Free Report) released its quarterly earnings data on Tuesday. The company reported $0.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.04, FiscalAI reports. The business had revenue of $274.99 million for the quarter, compared to the consensus estimate of $268.04 million. CAVA Group had a return on equity of 8.88% and a net margin of 12.14%.

CAVA Group Price Performance

NYSE CAVA traded down $0.40 during trading on Tuesday, reaching $67.95. 3,924,237 shares of the company’s stock traded hands, compared to its average volume of 3,491,037. The firm has a market cap of $7.88 billion, a price-to-earnings ratio of 58.58, a price-to-earnings-growth ratio of 5.15 and a beta of 2.41. The company’s 50 day simple moving average is $64.35 and its two-hundred day simple moving average is $61.64. CAVA Group has a 12-month low of $43.41 and a 12-month high of $103.00.

Insiders Place Their Bets

In related news, insider Kelly Costanza sold 1,707 shares of the stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $106,072.98. Following the completion of the sale, the insider owned 119,139 shares of the company’s stock, valued at $7,403,297.46. This represents a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brett Schulman sold 21,650 shares of the stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $67.41, for a total value of $1,459,426.50. Following the sale, the chief executive officer owned 807,325 shares of the company’s stock, valued at approximately $54,421,778.25. This represents a 2.61% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 42,843 shares of company stock worth $2,764,355. Insiders own 12.10% of the company’s stock.

Institutional Trading of CAVA Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CAVA. Morgan Stanley grew its stake in CAVA Group by 33.7% during the 4th quarter. Morgan Stanley now owns 3,318,894 shares of the company’s stock valued at $194,786,000 after purchasing an additional 835,628 shares during the last quarter. State Street Corp lifted its holdings in shares of CAVA Group by 1.3% during the fourth quarter. State Street Corp now owns 2,920,442 shares of the company’s stock worth $171,401,000 after purchasing an additional 36,508 shares during the period. Franklin Resources Inc. boosted its position in CAVA Group by 7.9% in the fourth quarter. Franklin Resources Inc. now owns 1,498,650 shares of the company’s stock valued at $87,956,000 after buying an additional 109,240 shares during the last quarter. Marshall Wace LLP boosted its position in CAVA Group by 689.8% in the fourth quarter. Marshall Wace LLP now owns 1,387,774 shares of the company’s stock valued at $81,448,000 after buying an additional 1,212,068 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in CAVA Group by 58.7% in the 2nd quarter. Alliancebernstein L.P. now owns 1,353,058 shares of the company’s stock worth $113,968,000 after buying an additional 500,367 shares during the period. Institutional investors and hedge funds own 73.15% of the company’s stock.

Wall Street Analysts Forecast Growth

CAVA has been the subject of several research reports. TD Cowen reiterated a “buy” rating on shares of CAVA Group in a research report on Monday, January 5th. Morgan Stanley lowered their price target on shares of CAVA Group from $86.00 to $80.00 and set an “equal weight” rating for the company in a report on Tuesday, January 20th. Johnson Rice set a $72.00 price objective on CAVA Group in a research report on Monday, January 5th. UBS Group lifted their target price on CAVA Group from $66.00 to $69.00 and gave the stock a “neutral” rating in a report on Wednesday, February 18th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $85.00 price target on shares of CAVA Group in a report on Thursday, February 19th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, CAVA Group has an average rating of “Moderate Buy” and a consensus price target of $82.29.

View Our Latest Stock Analysis on CAVA

About CAVA Group

(Get Free Report)

CAVA Group, Inc (NYSE: CAVA) is a leading fast-casual restaurant company specializing in Mediterranean-inspired cuisine. Operating under the CAVA brand, the company offers customizable bowls, pitas and salads built around a variety of proteins, grains, fresh vegetables and house-made spreads. With a focus on high-quality ingredients and made-to-order preparation, CAVA aims to deliver a casual yet elevated dining experience for dine-in, takeout and catering customers.

Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe’s Kitchen.

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