CAVA Group, Inc. (NYSE:CAVA – Free Report) – Equities research analysts at Wedbush upped their Q1 2024 earnings per share estimates for shares of CAVA Group in a research report issued to clients and investors on Tuesday, April 16th. Wedbush analyst N. Setyan now anticipates that the company will post earnings of $0.06 per share for the quarter, up from their previous forecast of $0.05. Wedbush has a “Outperform” rating and a $74.00 price objective on the stock. The consensus estimate for CAVA Group’s current full-year earnings is $0.24 per share. Wedbush also issued estimates for CAVA Group’s Q2 2024 earnings at $0.13 EPS, FY2024 earnings at $0.29 EPS, Q1 2025 earnings at $0.08 EPS, Q2 2025 earnings at $0.15 EPS, Q3 2025 earnings at $0.13 EPS and FY2025 earnings at $0.38 EPS.
CAVA Group (NYSE:CAVA – Get Free Report) last announced its quarterly earnings data on Monday, February 26th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. CAVA Group had a return on equity of 4.28% and a net margin of 1.82%. The business had revenue of $175.50 million during the quarter, compared to the consensus estimate of $240.03 million. The firm’s quarterly revenue was up 52.6% on a year-over-year basis.
Get Our Latest Report on CAVA Group
CAVA Group Stock Performance
Shares of CAVA Group stock traded down $1.30 on Wednesday, reaching $61.56. 1,650,255 shares of the company were exchanged, compared to its average volume of 2,236,657. The stock’s 50 day moving average price is $60.49 and its 200-day moving average price is $45.72. CAVA Group has a 1-year low of $29.05 and a 1-year high of $71.60.
Hedge Funds Weigh In On CAVA Group
Several large investors have recently added to or reduced their stakes in CAVA. Barclays PLC purchased a new position in CAVA Group during the second quarter worth about $250,000. Commonwealth Equity Services LLC purchased a new stake in shares of CAVA Group during the 2nd quarter valued at about $339,000. Osaic Holdings Inc. purchased a new stake in shares of CAVA Group during the 2nd quarter valued at about $74,000. BlackRock Inc. acquired a new stake in CAVA Group during the 2nd quarter valued at approximately $16,380,000. Finally, Nuveen Asset Management LLC acquired a new stake in CAVA Group during the 2nd quarter valued at approximately $20,285,000. 73.15% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other CAVA Group news, Director International S.C.A. Artal sold 2,000,000 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $66.25, for a total value of $132,500,000.00. Following the sale, the director now owns 26,507,990 shares of the company’s stock, valued at $1,756,154,337.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director International S.C.A. Artal sold 2,000,000 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $66.25, for a total transaction of $132,500,000.00. Following the sale, the director now owns 26,507,990 shares of the company’s stock, valued at $1,756,154,337.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ronald M. Shaich sold 1,500,000 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $57.20, for a total value of $85,800,000.00. Following the sale, the insider now directly owns 4,457,634 shares in the company, valued at approximately $254,976,664.80. The disclosure for this sale can be found here. Insiders have sold 3,547,239 shares of company stock valued at $221,525,951 over the last quarter.
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.
Featured Articles
- Five stocks we like better than CAVA Group
- Insider Selling Explained: Can it Inform Your Investing Choices?
- United Airlines Soars on Earnings Beat
- ESG Stocks, What Investors Should Know
- J.B. Hunt Hits the Skids: Lower Prices to Come
- Health Care Stocks Explained: Why You Might Want to Invest
- Predicting a Bear Market: 7 Signs and Why it’s Tough to Do
Receive News & Ratings for CAVA Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CAVA Group and related companies with MarketBeat.com's FREE daily email newsletter.