CAVA Group (NYSE:CAVA) Price Target Increased to $90.00 by Analysts at Morgan Stanley

CAVA Group (NYSE:CAVA) had its price target upped by analysts at Morgan Stanley from $85.00 to $90.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 3.72% from the stock’s current price.

CAVA has been the topic of several other research reports. Piper Sandler downgraded CAVA Group from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $63.00 to $92.00 in a research note on Thursday, May 30th. Barclays lifted their target price on CAVA Group from $58.00 to $72.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. Robert W. Baird lifted their target price on CAVA Group from $90.00 to $92.00 and gave the company an “outperform” rating in a research note on Wednesday, May 29th. Citigroup lifted their target price on CAVA Group from $60.00 to $81.00 and gave the company a “neutral” rating in a research note on Tuesday, May 21st. Finally, JPMorgan Chase & Co. downgraded CAVA Group from an “overweight” rating to a “neutral” rating and set a $77.00 price objective on the stock. in a research note on Monday, June 3rd. Six 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 has a consensus rating of “Moderate Buy” and a consensus target price of $82.75.

CAVA Group Price Performance

NYSE:CAVA traded up $0.14 during midday trading on Tuesday, reaching $86.77. 1,308,067 shares of the company traded hands, compared to its average volume of 2,630,345. CAVA Group has a twelve month low of $29.05 and a twelve month high of $98.69. The firm has a market capitalization of $9.89 billion and a price-to-earnings ratio of 211.76. The company has a fifty day moving average price of $86.99 and a 200 day moving average price of $67.36.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, May 28th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.08. CAVA Group had a return on equity of 5.18% and a net margin of 3.75%. The business had revenue of $259.01 million during the quarter, compared to analyst estimates of $246.02 million. The business’s quarterly revenue was up 27.5% compared to the same quarter last year. On average, equities research analysts forecast that CAVA Group will post 0.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CAVA Group news, CFO Tricia K. Tolivar sold 5,949 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $94.47, for a total transaction of $562,002.03. Following the transaction, the chief financial officer now owns 297,600 shares of the company’s stock, valued at approximately $28,114,272. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Kenneth Robert Bertram sold 5,250 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $95.28, for a total transaction of $500,220.00. Following the sale, the insider now owns 67,005 shares of the company’s stock, valued at approximately $6,384,236.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Tricia K. Tolivar sold 5,949 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $94.47, for a total value of $562,002.03. Following the sale, the chief financial officer now directly owns 297,600 shares in the company, valued at approximately $28,114,272. The disclosure for this sale can be found here. Insiders have sold a total of 1,420,564 shares of company stock worth $124,690,835 in the last three months.

Hedge Funds Weigh In On CAVA Group

Large investors have recently added to or reduced their stakes in the company. Montag A & Associates Inc. bought a new position in CAVA Group during the 4th quarter worth about $26,000. Jamison Private Wealth Management Inc. bought a new position in shares of CAVA Group in the 2nd quarter valued at about $28,000. CWM LLC grew its holdings in shares of CAVA Group by 101.2% in the 1st quarter. CWM LLC now owns 505 shares of the company’s stock valued at $35,000 after acquiring an additional 254 shares in the last quarter. Mather Group LLC. bought a new position in shares of CAVA Group in the 2nd quarter valued at about $45,000. Finally, American International Group Inc. grew its holdings in shares of CAVA Group by 194.2% in the 1st quarter. American International Group Inc. now owns 709 shares of the company’s stock valued at $50,000 after acquiring an additional 468 shares in the last quarter. Institutional investors own 73.15% of the company’s stock.

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.