CAVA Group, Inc. (NYSE:CAVA – Free Report) – Investment analysts at William Blair increased their Q3 2023 EPS estimates for shares of CAVA Group in a research report issued to clients and investors on Wednesday, August 16th. William Blair analyst S. Zackfia now anticipates that the company will post earnings per share of ($0.01) for the quarter, up from their previous estimate of ($0.03). William Blair currently has a “Outperform” rating on the stock. The consensus estimate for CAVA Group’s current full-year earnings is ($0.08) per share. William Blair also issued estimates for CAVA Group’s Q4 2023 earnings at ($0.01) EPS, FY2023 earnings at $0.01 EPS, Q2 2024 earnings at $0.09 EPS, Q3 2024 earnings at $0.04 EPS, Q4 2024 earnings at ($0.02) EPS, FY2024 earnings at $0.03 EPS, FY2025 earnings at $0.07 EPS and FY2026 earnings at $0.17 EPS.

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CAVA Group (NYSE:CAVA – Get Free Report) last announced its quarterly earnings results on Tuesday, August 15th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.24. The firm had revenue of $172.89 million during the quarter, compared to the consensus estimate of $163.21 million. CAVA Group’s revenue was up 27.2% on a year-over-year basis.

CAVA has been the subject of a number of other reports. JPMorgan Chase & Co. began coverage on shares of CAVA Group in a research note on Monday, July 10th. They set an “overweight” rating and a $45.00 price objective for the company. Robert W. Baird boosted their target price on shares of CAVA Group from $50.00 to $58.00 and gave the company an “outperform” rating in a research report on Wednesday. Morgan Stanley boosted their target price on shares of CAVA Group from $43.00 to $45.00 and gave the company an “equal weight” rating in a research report on Wednesday. Stifel Nicolaus lifted their price target on shares of CAVA Group from $48.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Piper Sandler boosted their target price on shares of CAVA Group from $45.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.00.

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CAVA Group Price Performance

Shares of NYSE CAVA opened at $42.37 on Friday. CAVA Group has a 1 year low of $36.45 and a 1 year high of $58.10. The company’s 50-day simple moving average is $46.56.

Institutional Investors Weigh In On CAVA Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CAVA. Glassman Wealth Services purchased a new position in shares of CAVA Group in the second quarter valued at $28,000. Victory Capital Management Inc. acquired a new position in shares of CAVA Group in the 2nd quarter valued at about $40,000. Osaic Holdings Inc. acquired a new position in shares of CAVA Group in the 2nd quarter valued at about $74,000. Point72 Asset Management L.P. purchased a new stake in shares of CAVA Group during the 2nd quarter valued at about $102,000. Finally, Cypress Wealth Services LLC purchased a new stake in shares of CAVA Group during the 2nd quarter valued at about $202,000.

Insider Activity at CAVA Group

In other news, CFO Tricia K. Tolivar acquired 2,500 shares of the firm’s stock in a transaction on Tuesday, June 20th. The shares were bought at an average price of $22.00 per share, for a total transaction of $55,000.00. Following the acquisition, the chief financial officer now owns 2,500 shares of the company’s stock, valued at approximately $55,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Kenneth Robert Bertram bought 2,295 shares of the company’s stock in a transaction on Tuesday, June 20th. The stock was bought at an average cost of $22.00 per share, with a total value of $50,490.00. Following the transaction, the insider now directly owns 1,500 shares in the company, valued at approximately $33,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Tricia K. Tolivar acquired 2,500 shares of the stock in a transaction dated Tuesday, June 20th. The shares were bought at an average cost of $22.00 per share, with a total value of $55,000.00. Following the completion of the transaction, the chief financial officer now owns 2,500 shares of the company’s stock, valued at approximately $55,000. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 9,295 shares of company stock valued at $204,490.

About CAVA Group

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CAVA Group, Inc owns and operates a chain of Mediterranean restaurants. The company offers salads, dips, spreads, toppings, and dressings. It sells its products through whole food markets and grocery stores. The company also provides online food ordering services. Cava Group, Inc was founded in 2006 and is based in Washington, District of Columbia.

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