CAVA Group (NYSE:CAVA) Announces Earnings Results

CAVA Group (NYSE:CAVA) announced its quarterly earnings data on Tuesday. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01), Zacks reports. CAVA Group had a net margin of 12.98% and a return on equity of 9.83%.

CAVA Group Stock Down 1.3%

CAVA traded down $0.69 during trading on Tuesday, hitting $51.92. The company had a trading volume of 6,938,663 shares, compared to its average volume of 3,882,256. The company has a market capitalization of $6.02 billion, a PE ratio of 43.63, a PEG ratio of 3.09 and a beta of 2.50. CAVA Group has a one year low of $51.33 and a one year high of $172.43. The firm’s 50-day moving average price is $63.38 and its 200 day moving average price is $76.87.

Institutional Trading of CAVA Group

Institutional investors have recently modified their holdings of the company. Geneos Wealth Management Inc. lifted its holdings in shares of CAVA Group by 87.9% in the second quarter. Geneos Wealth Management Inc. now owns 1,088 shares of the company’s stock valued at $92,000 after purchasing an additional 509 shares in the last quarter. Bison Wealth LLC bought a new stake in CAVA Group in the 4th quarter valued at approximately $208,000. Jump Financial LLC bought a new stake in CAVA Group in the 2nd quarter valued at approximately $215,000. Eventide Asset Management LLC bought a new stake in shares of CAVA Group in the second quarter worth $212,000. Finally, Brown Advisory Inc. lifted its position in shares of CAVA Group by 9.3% in the second quarter. Brown Advisory Inc. now owns 2,979 shares of the company’s stock worth $251,000 after purchasing an additional 253 shares in the last quarter. 73.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Sanford C. Bernstein set a $74.00 price target on CAVA Group in a research report on Wednesday, August 13th. Barclays reduced their price objective on shares of CAVA Group from $74.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of CAVA Group in a research note on Wednesday, October 8th. Morgan Stanley reduced their price target on shares of CAVA Group from $97.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 21st. Finally, The Goldman Sachs Group assumed coverage on shares of CAVA Group in a research report on Monday, October 20th. They set a “neutral” rating and a $74.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, CAVA Group has a consensus rating of “Moderate Buy” and a consensus price target of $90.35.

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.