CAVA Group (NYSE:CAVA) Issues Quarterly Earnings Results

CAVA Group (NYSE:CAVA) announced its quarterly earnings data on Tuesday. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01), Zacks reports. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%.

CAVA Group Price Performance

Shares of NYSE CAVA traded down $4.73 during mid-day trading on Tuesday, reaching $99.50. 6,836,374 shares of the company’s stock were exchanged, compared to its average volume of 2,316,769. The firm has a market capitalization of $11.40 billion, a price-to-earnings ratio of 216.29 and a beta of 3.25. The firm has a 50-day moving average price of $122.60 and a two-hundred day moving average price of $125.90. CAVA Group has a 52 week low of $50.37 and a 52 week high of $172.43.

Analyst Ratings Changes

CAVA has been the topic of a number of recent research reports. Barclays cut their target price on CAVA Group from $142.00 to $127.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Morgan Stanley raised their price objective on shares of CAVA Group from $123.00 to $135.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Sanford C. Bernstein assumed coverage on shares of CAVA Group in a report on Wednesday, November 20th. They set a “market perform” rating and a $145.00 price objective for the company. Citigroup lowered their target price on shares of CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Piper Sandler lifted their price target on CAVA Group from $100.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, November 15th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $140.60.

Insider Buying and Selling

In other news, insider Kenneth Robert Bertram sold 678 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $84,336.42. Following the completion of the transaction, the insider now owns 57,312 shares in the company, valued at approximately $7,129,039.68. This represents a 1.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronald M. Shaich sold 622,549 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $149.40, for a total value of $93,008,820.60. Following the completion of the sale, the director now owns 6,307 shares in the company, valued at $942,265.80. This represents a 99.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 651,784 shares of company stock worth $96,522,922. Insiders own 12.10% of the company’s stock.

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.