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

CAVA Group (NYSE:CAVA) had its price objective raised by Morgan Stanley from $123.00 to $135.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.

CAVA has been the subject of several other reports. JPMorgan Chase & Co. boosted their price objective on shares of CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. TD Securities boosted their price objective on shares of CAVA Group from $115.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. TD Cowen boosted their price objective on shares of CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Robert W. Baird boosted their target price 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. Finally, William Blair restated an “outperform” rating on shares of CAVA Group in a research report on Wednesday, November 13th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $143.71.

CAVA Group Stock Performance

Shares of CAVA Group stock opened at $141.38 on Thursday. The stock has a market capitalization of $16.20 billion, a PE ratio of 307.35 and a beta of 3.23. CAVA Group has a 52-week low of $31.47 and a 52-week high of $172.43. The company has a 50-day simple moving average of $131.69 and a two-hundred day simple moving average of $104.46.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.04. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The firm had revenue of $243.82 million during the quarter, compared to analysts’ expectations of $233.05 million. During the same period in the previous year, the company earned $0.06 earnings per share. 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 0.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other CAVA Group news, CFO Tricia K. Tolivar sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $125.64, for a total value of $628,200.00. Following the completion of the transaction, the chief financial officer now directly owns 292,600 shares in the company, valued at $36,762,264. This represents a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brett Schulman sold 201,504 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 702,590 shares of the company’s stock, valued at approximately $88,196,122.70. The trade was a 22.29 % 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 over the last three months. 12.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CAVA Group

A number of hedge funds and other institutional investors have recently modified their holdings of CAVA. Vanguard Group Inc. boosted its position in shares of CAVA Group by 215.7% during the first quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock worth $346,330,000 after acquiring an additional 3,377,840 shares during the last quarter. Capital Research Global Investors boosted its position in shares of CAVA Group by 21.6% during the first quarter. Capital Research Global Investors now owns 5,311,335 shares of the company’s stock worth $372,059,000 after acquiring an additional 942,054 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of CAVA Group by 121.0% during the third quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock worth $151,492,000 after acquiring an additional 669,599 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of CAVA Group by 102.5% during the second quarter. Renaissance Technologies LLC now owns 892,400 shares of the company’s stock worth $82,770,000 after acquiring an additional 451,800 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of CAVA Group by 262.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 516,092 shares of the company’s stock worth $63,918,000 after acquiring an additional 373,835 shares during 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.