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

CAVA Group (NYSE:CAVA) posted its earnings results 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. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%.

CAVA Group Price Performance

NYSE CAVA traded down $4.73 on Tuesday, hitting $99.50. 7,533,562 shares of the company were exchanged, compared to its average volume of 2,359,230. CAVA Group has a twelve month low of $50.37 and a twelve month high of $172.43. The company’s 50 day moving average price is $122.60 and its 200-day moving average price is $125.90. The firm has a market capitalization of $11.40 billion, a P/E ratio of 216.29 and a beta of 3.25.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. William Blair reissued an “outperform” rating on shares of CAVA Group in a research report on Wednesday, November 13th. UBS Group decreased their target price on CAVA Group from $160.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Wedbush upped their price objective on shares of CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Citigroup decreased their price target on CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Stifel Nicolaus boosted their target price on CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $140.60.

Insider Activity at CAVA Group

In other CAVA Group news, CAO Adam David Phillips sold 615 shares of CAVA Group stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $76,499.85. Following the sale, the chief accounting officer now directly owns 10,884 shares of the company’s stock, valued at approximately $1,353,860.76. The trade was a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronald M. Shaich sold 622,549 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 6,307 shares of the company’s stock, valued at $942,265.80. The trade was a 99.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 651,784 shares of company stock worth $96,522,922. 12.10% of the stock is owned by corporate insiders.

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.