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

CAVA Group (NYSE:CAVA) had its price objective raised by equities research 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 price target points to a potential downside of 5.61% from the company’s previous close.

CAVA has been the subject of a number of other research reports. Robert W. Baird upped their price objective on shares of CAVA Group from $125.00 to $148.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Barclays raised their price objective on CAVA Group from $113.00 to $142.00 and gave the company an “equal weight” rating in a research note on Wednesday. TD Cowen boosted their target price on CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday. Argus boosted their price objective on CAVA Group from $104.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Finally, Stifel Nicolaus lifted 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 assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $138.36.

CAVA Group Stock Down 2.9 %

Shares of NYSE CAVA traded down $4.27 during mid-day trading on Thursday, reaching $143.03. 2,110,556 shares of the company were exchanged, compared to its average volume of 2,740,861. The company’s 50 day moving average price is $130.75 and its 200 day moving average price is $103.50. CAVA Group has a 52 week low of $31.47 and a 52 week high of $172.43. The stock has a market capitalization of $16.35 billion, a PE ratio of 310.93 and a beta of 3.23.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. The company had revenue of $243.82 million for the quarter, compared to analysts’ expectations of $233.05 million. CAVA Group had a return on equity of 9.23% and a net margin of 5.88%. CAVA Group’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same period last year, the firm posted $0.06 EPS. On average, sell-side analysts predict that CAVA Group will post 0.44 earnings per share for the current year.

Insider Activity

In related news, Director Theodoros Xenohristos sold 98,490 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 424,846 shares of the company’s stock, valued at $53,432,881.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other CAVA Group news, Director Theodoros Xenohristos sold 98,490 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the completion of 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 0.00 % decrease in their ownership of the stock. 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 5,000 shares of CAVA Group stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.64, for a total transaction of $628,200.00. Following the transaction, the chief financial officer now owns 292,600 shares of the company’s stock, valued at $36,762,264. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 304,994 shares of company stock worth $38,310,084 in the last quarter. 12.10% of the stock is owned by company insiders.

Institutional Trading of CAVA Group

Several institutional investors have recently added to or reduced their stakes in CAVA. SpiderRock Advisors LLC lifted its position in CAVA Group by 8.9% during the third 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 during the period. Xponance Inc. raised its position in CAVA Group by 95.2% in the second 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 period. PFG Investments LLC grew its position in shares of CAVA Group by 36.8% during the 3rd quarter. PFG Investments LLC now owns 15,907 shares of the company’s stock valued at $1,970,000 after acquiring an additional 4,275 shares during the period. Intech Investment Management LLC purchased a new stake in shares of CAVA Group in the 2nd quarter worth $1,728,000. Finally, Aigen Investment Management LP bought a new position in CAVA Group in the 3rd quarter worth $1,293,000. 73.15% of the stock is currently 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.