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

CAVA Group (NYSE:CAVA) had its price target lifted by Morgan Stanley from $123.00 to $135.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential downside of 4.41% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the stock. UBS Group started coverage on shares of CAVA Group in a research report on Friday, September 27th. They set a “neutral” rating and a $135.00 price objective for the company. Citigroup boosted their price objective on CAVA Group from $140.00 to $163.00 and gave the company a “neutral” rating in a report on Wednesday. Loop Capital increased their target price on shares of CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a report on Monday, August 26th. Robert W. Baird lifted their price objective on CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Finally, Stifel Nicolaus boosted their target price on shares of CAVA Group from $118.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, CAVA Group has a consensus rating of “Moderate Buy” and an average price target of $143.71.

CAVA Group Stock Performance

Shares of CAVA opened at $141.23 on Thursday. The stock has a 50 day moving average price of $131.69 and a 200 day moving average price of $104.24. The stock has a market capitalization of $16.15 billion, a price-to-earnings ratio of 307.02 and a beta of 3.23. CAVA Group has a one year low of $31.47 and a one year high of $172.43.

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

Insider Activity at CAVA Group

In other news, Director Theodoros Xenohristos sold 98,490 shares of CAVA Group stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.77, for a total value of $12,387,087.30. Following the sale, the director now owns 424,846 shares of the company’s stock, valued at $53,432,881.42. The trade was a 18.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Tricia K. Tolivar sold 5,000 shares of the stock in a transaction that occurred on 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 directly owns 292,600 shares of the company’s stock, valued at approximately $36,762,264. This trade represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 304,994 shares of company stock worth $38,310,084 in the last quarter. Company insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

Several institutional investors have recently made changes to their positions in the stock. Nwam LLC lifted its position in shares of CAVA Group by 2.6% during the 3rd quarter. Nwam LLC now owns 3,368 shares of the company’s stock valued at $417,000 after acquiring an additional 85 shares during the period. CIBC Asset Management Inc boosted its stake in shares of CAVA Group by 3.5% during the third quarter. CIBC Asset Management Inc now owns 3,287 shares of the company’s stock valued at $407,000 after acquiring an additional 110 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of CAVA Group by 6.3% during the third quarter. Farther Finance Advisors LLC now owns 1,916 shares of the company’s stock worth $237,000 after buying an additional 113 shares in the last quarter. GAMMA Investing LLC raised its holdings 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 acquiring an additional 125 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew 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 valued at $3,632,000 after purchasing an additional 184 shares during the period. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

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.