What is William Blair’s Estimate for CAVA Group Q3 Earnings?

CAVA Group, Inc. (NYSE:CAVA) – Investment analysts at William Blair increased their Q3 2024 earnings per share estimates for CAVA Group in a report issued on Wednesday, October 23rd. William Blair analyst S. Zackfia now forecasts that the company will earn $0.10 per share for the quarter, up from their previous estimate of $0.08. The consensus estimate for CAVA Group’s current full-year earnings is $0.43 per share. William Blair also issued estimates for CAVA Group’s Q4 2024 earnings at $0.01 EPS, FY2024 earnings at $0.40 EPS, FY2025 earnings at $0.56 EPS and FY2026 earnings at $0.76 EPS.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Thursday, August 22nd. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. The firm had revenue of $233.50 million for the quarter, compared to analyst estimates of $219.47 million. CAVA Group had a net margin of 5.04% and a return on equity of 7.37%. The company’s revenue was up 35.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.21 EPS.

A number of other research analysts have also commented on CAVA. UBS Group began coverage on CAVA Group in a research report on Friday, September 27th. They issued a “neutral” rating and a $135.00 price objective on the stock. TD Securities upped their target price on shares of CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Loop Capital raised their target price on shares of CAVA Group from $80.00 to $122.00 and gave the company a “hold” rating in a research note on Monday, August 26th. Morgan Stanley downgraded shares of CAVA Group from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $90.00 to $110.00 in a research note on Thursday, August 29th. Finally, Jefferies Financial Group raised their price objective on shares of CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, CAVA Group has a consensus rating of “Moderate Buy” and a consensus price target of $116.93.

CAVA Group Price Performance

CAVA opened at $136.09 on Friday. The stock has a market capitalization of $15.52 billion, a P/E ratio of 331.93 and a beta of 3.33. The company’s 50 day simple moving average is $123.64 and its 200-day simple moving average is $96.56. CAVA Group has a one year low of $29.66 and a one year high of $140.69.

Insider Buying and Selling

In other news, CFO Tricia K. Tolivar sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.64, for a total transaction of $628,200.00. Following the sale, the chief financial officer now owns 292,600 shares of the company’s stock, valued at $36,762,264. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Brett Schulman sold 201,504 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.53, for a total value of $25,294,797.12. Following the sale, the chief executive officer now directly owns 702,590 shares of the company’s stock, valued at approximately $88,196,122.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Tricia K. Tolivar sold 5,000 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.64, for a total value of $628,200.00. Following the transaction, the chief financial officer now owns 292,600 shares of the company’s stock, valued at approximately $36,762,264. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 304,994 shares of company stock valued at $38,310,084. 12.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CAVA. GAMMA Investing LLC raised its position in CAVA Group by 68.3% in the 3rd quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock valued at $38,000 after buying an additional 125 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of CAVA Group by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 39,154 shares of the company’s stock worth $3,632,000 after purchasing an additional 184 shares in the last quarter. Jaffetilchin Investment Partners LLC boosted its holdings in CAVA Group by 4.2% during the second quarter. Jaffetilchin Investment Partners LLC now owns 6,907 shares of the company’s stock worth $641,000 after purchasing an additional 278 shares during the last quarter. Jamison Private Wealth Management Inc. bought a new position in CAVA Group in the second quarter valued at $28,000. Finally, Nemes Rush Group LLC acquired a new stake in CAVA Group in the 2nd quarter valued at $28,000. 73.15% of the stock is owned by institutional investors and hedge funds.

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.