CAVA Group (NYSE:CAVA) issues quarterly earnings results

CAVA Group (NYSE:CAVA – Get Your Free Report ) released its earnings results on Thursday. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.13 by $0.04, Briefing.com reports. CAVA Group had a net margin of 3.75% and a return on equity of 5.18%. The firm had revenue of $233.50 million during the quarter, compared to analysts’ expectations of $219.47 million. During the same period last year, the company posted EPS of $0.21. The company’s quarterly revenue was up 35.1% compared to the same quarter last year.

CAVA Group stocks down 0.9%

Shares of CAVA stock opened at $101.92 on Friday. CAVA Group has a 12-month low of $29.05 and a 12-month high of $104.84. The company has a market cap of $11.62 billion, a P/E ratio of 248.59 and a beta of 3.27. The firm has a 50-day moving average of $89.22 and a 200-day moving average of $75.32.

The Wall Street analyst weighs in

Several research analysts have recently issued reports on the company. Citigroup raised their price target on CAVA Group from $60.00 to $81.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 21st. Barclays lifted their price objective on CAVA Group from $58.00 to $72.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Stifel Nicolaus upped their target price on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday. TD Cowen raised their target price on shares of CAVA Group from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Finally, Wedbush boosted their price objective on shares of CAVA Group from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Moderate Buy” and an average price target of $88.83, according to MarketBeat.

See the latest stock report on CAVA

Internal activity at CAVA Group

In other CAVA Group news, insider Kenneth Robert Bertram sold 5,250 shares of the business’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $95.28, for a total value of $500,220.00. Following the completion of the transaction, the insider now owns 67,005 shares of the company’s stock, valued at approximately $6,384,236.40. The sale was disclosed in a legal filing with the SEC, which is available via this link. In related news, insider Kenneth Robert Bertram sold 5,250 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $95.28, for a total value of $500,220.00. Following the sale, the insider now owns 67,005 shares in the company, valued at $6,384,236.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, Director Ronald M. Shaich sold 1,231,979 shares of CAVA Group stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $87.25, for a total transaction of $107,490,167.75. Following the completion of the sale, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $436,250. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,420,564 shares of company stock worth $124,690,835.

About CAVA Group

(Get a free report)

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 offers online and mobile ordering platforms. Cava Group, Inc was founded in 2006 and is headquartered in Washington, DC.

Further reading

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