Morgan Stanley Issues Positive Forecast for CAVA Group (NYSE:CAVA) Stock Price

CAVA Group (NYSE:CAVA) had its price target increased by Morgan Stanley from $123.00 to $135.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an equal weight rating on the stock.

Other equities research analysts have also issued research reports about the stock. Loop Capital raised their price target 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. Barclays lifted their target price on CAVA Group from $113.00 to $142.00 and gave the company an “equal weight” rating in a research note on Wednesday. Citigroup increased their price target on CAVA Group from $140.00 to $163.00 and gave the stock a “neutral” rating in a research note on Wednesday. William Blair restated an “outperform” rating on shares of CAVA Group in a research note on Wednesday. Finally, UBS Group started coverage on shares of CAVA Group in a report on Friday, September 27th. They issued a “neutral” rating and a $135.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, CAVA Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.71.

CAVA Group Trading Up 2.2 %

Shares of NYSE CAVA opened at $141.38 on Thursday. CAVA Group has a 12-month low of $31.47 and a 12-month high of $172.43. The company has a market cap of $16.16 billion, a price-to-earnings ratio of 307.35 and a beta of 3.23. The stock’s 50 day simple moving average is $131.69 and its 200 day simple moving average is $104.46.

CAVA Group (NYSE:CAVA) last posted its earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. CAVA Group had a return on equity of 9.23% and a net margin of 5.88%. The company had revenue of $243.82 million for the quarter, compared to analysts’ expectations of $233.05 million. During the same period last year, the business posted $0.06 earnings per share. The firm’s quarterly revenue was up 38.9% compared to the same quarter last year. As a group, equities analysts forecast that CAVA Group will post 0.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Theodoros Xenohristos sold 98,490 shares of CAVA Group stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.77, for a total value of $12,387,087.30. Following the transaction, the director now owns 424,846 shares of the company’s stock, valued at approximately $53,432,881.42. This trade represents a 18.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Tricia K. Tolivar sold 5,000 shares of the business’s 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 sale, the chief financial officer now owns 292,600 shares in the company, valued at approximately $36,762,264. The trade was a 1.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 304,994 shares of company stock worth $38,310,084. 12.10% of the stock is owned by insiders.

Institutional Investors Weigh In On CAVA Group

Hedge funds have recently made changes to their positions in the company. Swiss National Bank raised its stake in CAVA Group by 50.2% during the 1st quarter. Swiss National Bank now owns 67,300 shares of the company’s stock valued at $4,714,000 after purchasing an additional 22,500 shares during the period. Sei Investments Co. lifted its stake in CAVA Group by 70.6% in the 1st quarter. Sei Investments Co. now owns 35,784 shares of the company’s stock worth $2,507,000 after acquiring an additional 14,811 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in CAVA Group during the 1st quarter valued at about $6,532,000. Kingsview Wealth Management LLC acquired a new position in shares of CAVA Group in the 1st quarter valued at about $294,000. Finally, Vanguard Group Inc. lifted its position in shares of CAVA Group by 215.7% in the first quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock worth $346,330,000 after purchasing an additional 3,377,840 shares in the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

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.