CAVA Group, Inc. (NYSE:CAVA – Free Report) – Investment analysts at William Blair boosted 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 of ($0.01) per share for the quarter, up from their prior forecast 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 issued its quarterly earnings data 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 analysts’ expectations of $163.21 million. The firm’s quarterly revenue was up 27.2% on a year-over-year basis.

A number of other brokerages also recently issued reports on CAVA. Jefferies Financial Group lifted their price objective on shares of CAVA Group from $48.00 to $54.00 in a research report on Wednesday. Robert W. Baird boosted their target price on shares of CAVA Group from $50.00 to $58.00 and gave the stock 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 stock an “equal weight” rating in a research report on Wednesday. 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 research report on Wednesday. Finally, JPMorgan Chase & Co. initiated coverage on shares of CAVA Group in a research report on Monday, July 10th. They set an “overweight” rating and a $45.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.00.

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CAVA Group Trading Down 9.7 %

Shares of CAVA Group stock opened at $42.37 on Friday. The stock has a 50 day moving average price of $46.56. CAVA Group has a 52-week low of $36.45 and a 52-week high of $58.10.

Insider Activity

In other CAVA Group news, Director Theodoros Xenohristos acquired 4,500 shares of the company’s stock in a transaction dated Tuesday, June 20th. The shares were acquired at an average cost of $22.00 per share, with a total value of $99,000.00. Following the acquisition, the director now directly owns 4,500 shares of the company’s stock, valued at $99,000. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Kenneth Robert Bertram bought 2,295 shares of the firm’s stock in a transaction that occurred on Tuesday, June 20th. The stock was purchased at an average cost of $22.00 per share, for a total transaction of $50,490.00. Following the purchase, the insider now directly owns 1,500 shares in the company, valued at approximately $33,000. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Theodoros Xenohristos bought 4,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 20th. The stock was purchased at an average price of $22.00 per share, with a total value of $99,000.00. Following the completion of the purchase, the director now owns 4,500 shares in the company, valued at $99,000. The disclosure for this purchase can be found here. Insiders have acquired 9,295 shares of company stock valued at $204,490 in the last ninety days.

Hedge Funds Weigh In On CAVA Group

Large investors have recently made changes to their positions in the company. Glassman Wealth Services acquired a new position in shares of CAVA Group in the 2nd quarter valued at $28,000. Victory Capital Management Inc. acquired a new position in CAVA Group during the second quarter worth $40,000. Osaic Holdings Inc. acquired a new position in CAVA Group during the second quarter worth $74,000. Point72 Asset Management L.P. acquired a new position in CAVA Group during the second quarter worth $102,000. Finally, Cypress Wealth Services LLC acquired a new position in CAVA Group during the second quarter worth $202,000.

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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