CAVA Group (NYSE:CAVA) Cut to Equal Weight at Morgan Stanley

Morgan Stanley lowered shares of CAVA Group (NYSE:CAVA) from an overweight rating to an equal weight rating in a research report sent to investors on Thursday, Marketbeat Ratings reports. They currently have $110.00 target price on the stock, up from their previous target price of $90.00.

Other equities analysts have also recently issued reports about the company. Barclays lifted their target price on CAVA Group from $72.00 to $95.00 and gave the stock an equal weight rating in a report on Friday, August 23rd. Wedbush lifted their target price on CAVA Group from $100.00 to $120.00 and gave the stock an outperform rating in a report on Friday, August 23rd. TD Cowen lifted their target price on CAVA Group from $95.00 to $115.00 and gave the stock a buy rating in a report on Friday, August 23rd. Piper Sandler cut CAVA Group from an overweight rating to a neutral rating and lifted their target price for the stock from $63.00 to $92.00 in a report on Thursday, May 30th. Finally, Stifel Nicolaus lifted their target price on CAVA Group from $90.00 to $110.00 and gave the stock a buy rating in a report on Monday, August 19th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $106.75.

CAVA Group Price Performance

Shares of CAVA Group stock opened at $114.04 on Thursday. The business’s fifty day moving average price is $92.21 and its two-hundred day moving average price is $78.27. The company has a market capitalization of $13.00 billion, a P/E ratio of 278.15 and a beta of 3.27. CAVA Group has a 1-year low of $29.05 and a 1-year high of $128.18.

CAVA Group (NYSE:CAVA) last announced its earnings results on Thursday, August 22nd. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.04. CAVA Group had a return on equity of 5.18% and a net margin of 3.75%. The firm had revenue of $233.50 million for the quarter, compared to the consensus estimate of $219.47 million. During the same quarter in the previous year, the business earned $0.21 EPS. The firm’s revenue for the quarter was up 35.1% on a year-over-year basis. On average, research analysts expect that CAVA Group will post 0.34 earnings per share for the current fiscal year.

Insider Activity at CAVA Group

In related news, CEO Brett Schulman sold 66,414 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $90.11, for a total transaction of $5,984,565.54. Following the transaction, the chief executive officer now owns 904,094 shares of the company’s stock, valued at $81,467,910.34. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other CAVA Group news, CEO Brett Schulman sold 66,414 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $90.11, for a total value of $5,984,565.54. Following the completion of the sale, the chief executive officer now directly owns 904,094 shares of the company’s stock, valued at $81,467,910.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronald M. Shaich sold 1,231,979 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $87.25, for a total transaction of $107,490,167.75. Following the completion of the sale, the director now directly owns 5,000 shares of the company’s stock, valued at $436,250. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,725,558 shares of company stock valued at $163,000,919.

Institutional Trading of CAVA Group

Large investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of CAVA Group in the fourth quarter worth $204,000. New York State Common Retirement Fund lifted its stake in shares of CAVA Group by 18.3% in the fourth quarter. New York State Common Retirement Fund now owns 54,877 shares of the company’s stock worth $2,359,000 after buying an additional 8,500 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of CAVA Group in the fourth quarter worth $13,095,000. Great Valley Advisor Group Inc. acquired a new stake in shares of CAVA Group in the fourth quarter worth $284,000. Finally, Swiss National Bank acquired a new stake in shares of CAVA Group in the fourth quarter worth $1,926,000. 73.15% of the stock is owned by 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.