CAVA Group (NYSE:CAVA) Announces Quarterly Earnings Results, Beats Estimates By $0.03 EPS

CAVA Group (NYSE:CAVA) released its quarterly earnings data on Tuesday. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.03, FiscalAI reports. CAVA Group had a net margin of 5.40% and a return on equity of 8.43%. The business had revenue of $438.27 million for the quarter, compared to analyst estimates of $418.46 million.

CAVA Group Stock Performance

CAVA stock traded down $1.84 during mid-day trading on Tuesday, hitting $78.05. 7,040,958 shares of the company were exchanged, compared to its average volume of 3,376,239. The firm has a market cap of $9.09 billion, a P/E ratio of 144.54, a P/E/G ratio of 5.44 and a beta of 1.90. The firm’s 50 day simple moving average is $85.00 and its 200 day simple moving average is $69.15. CAVA Group has a 1-year low of $43.41 and a 1-year high of $98.79.

Insider Buying and Selling

In other CAVA Group news, insider Theodoros Xenohristos sold 9,044 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $79.75, for a total transaction of $721,259.00. Following the sale, the insider directly owned 327,882 shares in the company, valued at approximately $26,148,589.50. This trade represents a 2.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 6.70% of the company’s stock.

Institutional Trading of CAVA Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Pacer Advisors Inc. raised its holdings in shares of CAVA Group by 65.6% in the fourth quarter. Pacer Advisors Inc. now owns 21,742 shares of the company’s stock valued at $1,276,000 after purchasing an additional 8,612 shares during the last quarter. Invesco Ltd. raised its holdings in shares of CAVA Group by 8.2% in the fourth quarter. Invesco Ltd. now owns 145,565 shares of the company’s stock valued at $8,543,000 after purchasing an additional 11,013 shares during the last quarter. Alberta Investment Management Corp acquired a new stake in shares of CAVA Group in the fourth quarter valued at approximately $1,473,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of CAVA Group in the fourth quarter valued at approximately $323,000. Finally, State of Tennessee Department of Treasury raised its holdings in shares of CAVA Group by 4.8% in the fourth quarter. State of Tennessee Department of Treasury now owns 34,021 shares of the company’s stock valued at $2,062,000 after purchasing an additional 1,543 shares during the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CAVA has been the topic of several recent analyst reports. Northcoast Research raised shares of CAVA Group to a “strong sell” rating in a research note on Tuesday, April 21st. Roth Mkm initiated coverage on shares of CAVA Group in a research note on Tuesday, April 21st. They set a “buy” rating and a $106.00 price objective on the stock. Morgan Stanley lifted their price objective on shares of CAVA Group from $83.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 21st. Weiss Ratings reissued a “hold (c)” rating on shares of CAVA Group in a research note on Wednesday, January 21st. Finally, UBS Group raised their target price on shares of CAVA Group from $75.00 to $85.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $88.81.

CAVA Group Company Profile

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.