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

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

CAVA Group Stock Down 0.5 %

CAVA stock opened at $98.77 on Thursday. CAVA Group has a 52-week low of $52.81 and a 52-week high of $172.43. The stock’s 50 day moving average is $122.12 and its two-hundred day moving average is $125.97. The company has a market capitalization of $11.32 billion, a PE ratio of 214.71 and a beta of 3.25.

Insiders Place Their Bets

In other news, Director Ronald M. Shaich sold 622,549 shares of CAVA Group stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $149.40, for a total value of $93,008,820.60. Following the completion of the transaction, the director now owns 6,307 shares in the company, valued at approximately $942,265.80. This trade represents a 99.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Theodoros Xenohristos sold 851 shares of CAVA Group stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $101,422.18. Following the completion of the transaction, the insider now owns 358,995 shares of the company’s stock, valued at approximately $42,785,024.10. The trade was a 0.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 651,784 shares of company stock worth $96,522,922 in the last three months. 12.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CAVA shares. Citigroup reduced their price objective on CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. UBS Group dropped their target price on CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Loop Capital raised their target price on CAVA Group from $122.00 to $147.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Stifel Nicolaus raised 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. Finally, Piper Sandler raised their target price on CAVA Group from $100.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, November 15th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $136.40.

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.