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

CAVA Group (NYSE:CAVA) had its price target raised by stock analysts at Morgan Stanley from $123.00 to $135.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price suggests a potential downside of 5.61% from the company’s previous close.

CAVA has been the topic of a number of other reports. Wedbush lifted their price target on shares of CAVA Group from $155.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday. Jefferies Financial Group raised their target price on shares of CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Robert W. Baird increased their price objective on shares of CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. boosted their target price on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Argus increased their price target on shares of CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.36.

CAVA Group Trading Down 2.9 %

CAVA Group stock traded down $4.27 during mid-day trading on Thursday, hitting $143.03. The stock had a trading volume of 2,110,556 shares, compared to its average volume of 2,740,861. The firm’s 50 day moving average is $130.75 and its 200 day moving average is $103.50. CAVA Group has a one year low of $31.47 and a one year high of $172.43. The firm has a market capitalization of $16.35 billion, a P/E ratio of 310.93 and a beta of 3.23.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $233.05 million. During the same quarter last year, the company earned $0.06 EPS. The firm’s quarterly revenue was up 38.9% on a year-over-year basis. As a group, equities research analysts forecast that CAVA Group will post 0.44 earnings per share for the current 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 completion of the sale, the director now directly owns 424,846 shares in the company, valued at $53,432,881.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Brett Schulman sold 201,504 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the transaction, the chief executive officer now directly owns 702,590 shares in the company, valued at $88,196,122.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Theodoros Xenohristos sold 98,490 shares of the 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 completion of the sale, the director now owns 424,846 shares of the company’s stock, valued at approximately $53,432,881.42. This trade represents a 0.00 % 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 ninety days. 12.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On CAVA Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. SpiderRock Advisors LLC increased its stake in CAVA Group by 8.9% during the 3rd quarter. SpiderRock Advisors LLC now owns 479,319 shares of the company’s stock valued at $59,364,000 after purchasing an additional 39,319 shares in the last quarter. Xponance Inc. raised its stake in CAVA Group by 95.2% in the 2nd quarter. Xponance Inc. now owns 9,846 shares of the company’s stock worth $913,000 after acquiring an additional 4,803 shares during the last quarter. PFG Investments LLC lifted its position in CAVA Group by 36.8% during the 3rd quarter. PFG Investments LLC now owns 15,907 shares of the company’s stock worth $1,970,000 after acquiring an additional 4,275 shares during the period. Intech Investment Management LLC purchased a new stake in CAVA Group during the 2nd quarter valued at about $1,728,000. Finally, Aigen Investment Management LP acquired a new position in shares of CAVA Group in the third quarter valued at about $1,293,000. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Company Profile

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.