CAVA Group (NYSE:CAVA) Given New $135.00 Price Target at Morgan Stanley

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

Several other analysts have also recently weighed in on CAVA. Loop Capital upped their price objective on shares of CAVA Group from $80.00 to $122.00 and gave the stock a “hold” rating in a research note on Monday, August 26th. Argus upped their target price on shares of CAVA Group from $104.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Stifel Nicolaus upped their target price on shares of CAVA Group from $118.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays upped their target price on shares of CAVA Group from $113.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, Jefferies Financial Group upped their target price on shares of CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $143.71.

CAVA Group Trading Up 1.3 %

NYSE CAVA traded up $1.79 on Thursday, reaching $140.13. The company’s stock had a trading volume of 2,572,624 shares, compared to its average volume of 2,757,214. The firm has a market cap of $16.02 billion, a PE ratio of 303.80 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 business has a 50-day moving average price of $130.75 and a 200 day moving average price of $103.50.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.04. The firm had revenue of $243.82 million for the quarter, compared to analysts’ expectations of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.23%. The company’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.06 earnings per share. Analysts anticipate that CAVA Group will post 0.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Theodoros Xenohristos sold 98,490 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 424,846 shares of the company’s stock, valued at approximately $53,432,881.42. This trade represents a 18.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brett Schulman sold 201,504 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were 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 directly owns 702,590 shares of the company’s stock, valued at approximately $88,196,122.70. This trade represents a 22.29 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 304,994 shares of company stock worth $38,310,084. Company insiders own 12.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CAVA. Swiss National Bank grew its position in shares of CAVA Group by 50.2% in the 1st quarter. Swiss National Bank now owns 67,300 shares of the company’s stock valued at $4,714,000 after acquiring an additional 22,500 shares during the period. Sei Investments Co. raised its stake in CAVA Group by 70.6% in the 1st quarter. Sei Investments Co. now owns 35,784 shares of the company’s stock worth $2,507,000 after purchasing an additional 14,811 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in CAVA Group in the 1st quarter worth about $6,532,000. Kingsview Wealth Management LLC acquired a new stake in CAVA Group in the 1st quarter worth about $294,000. Finally, Vanguard Group Inc. raised its position in shares of CAVA Group by 215.7% in the 1st quarter. Vanguard Group Inc. now owns 4,944,036 shares of the company’s stock valued at $346,330,000 after buying an additional 3,377,840 shares in the last quarter. Institutional investors own 73.15% of the company’s stock.

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.