Morgan Stanley Increases CAVA Group (NYSE:CAVA) Price Target to $68.00

CAVA Group (NYSE:CAVAGet Free Report) had its price target boosted by research analysts at Morgan Stanley from $62.00 to $68.00 in a report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 6.67% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Piper Sandler lifted their price objective on shares of CAVA Group from $46.00 to $63.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. JPMorgan Chase & Co. boosted their target price on shares of CAVA Group from $50.00 to $64.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Robert W. Baird boosted their target price on shares of CAVA Group from $54.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. TD Cowen reissued a “buy” rating and issued a $63.00 target price on shares of CAVA Group in a research report on Wednesday. Finally, Argus raised shares of CAVA Group from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research report on Wednesday. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, CAVA Group presently has a consensus rating of “Moderate Buy” and an average target price of $59.82.

View Our Latest Report on CAVA Group

CAVA Group Stock Performance

Shares of CAVA opened at $63.75 on Friday. The company’s fifty day simple moving average is $60.23 and its 200 day simple moving average is $45.41. CAVA Group has a 1-year low of $29.05 and a 1-year high of $71.60.

CAVA Group (NYSE:CAVAGet Free Report) last released its quarterly earnings data on Monday, February 26th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. CAVA Group had a net margin of 1.82% and a return on equity of 4.28%. The firm had revenue of $175.50 million during the quarter, compared to analysts’ expectations of $240.03 million. The firm’s revenue for the quarter was up 52.6% on a year-over-year basis. Equities analysts forecast that CAVA Group will post 0.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director International S.C.A. Artal sold 2,000,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $66.25, for a total transaction of $132,500,000.00. Following the completion of the sale, the director now owns 26,507,990 shares of the company’s stock, valued at $1,756,154,337.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other CAVA Group news, Director Theodoros Xenohristos sold 47,239 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $68.29, for a total transaction of $3,225,951.31. Following the completion of the transaction, the director now owns 526,521 shares of the company’s stock, valued at $35,956,119.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director International S.C.A. Artal sold 2,000,000 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $66.25, for a total value of $132,500,000.00. Following the transaction, the director now directly owns 26,507,990 shares of the company’s stock, valued at approximately $1,756,154,337.50. The disclosure for this sale can be found here. Insiders sold 3,547,239 shares of company stock valued at $221,525,951 over the last quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Capital Research Global Investors boosted its holdings in shares of CAVA Group by 249.5% during the 4th quarter. Capital Research Global Investors now owns 4,369,281 shares of the company’s stock worth $187,792,000 after buying an additional 3,119,281 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of CAVA Group by 79.5% in the 4th quarter. 1832 Asset Management L.P. now owns 2,248,400 shares of the company’s stock worth $96,636,000 after purchasing an additional 995,800 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of CAVA Group by 7.2% in the 4th quarter. Vanguard Group Inc. now owns 1,566,196 shares of the company’s stock worth $67,315,000 after purchasing an additional 105,372 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of CAVA Group by 24.7% in the 4th quarter. Jennison Associates LLC now owns 1,222,240 shares of the company’s stock worth $52,532,000 after purchasing an additional 242,376 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of CAVA Group by 92.1% in the 3rd quarter. FMR LLC now owns 1,138,113 shares of the company’s stock worth $34,860,000 after purchasing an additional 545,799 shares in the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

CAVA Group Company Profile

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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.

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Analyst Recommendations for CAVA Group (NYSE:CAVA)

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