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

CAVA Group (NYSE:CAVA) had its target price lifted by equities research analysts at Morgan Stanley from $83.00 to $85.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target suggests a potential downside of 10.92% from the company’s previous close.

CAVA has been the topic of a number of other research reports. Telsey Advisory Group lifted their price target on shares of CAVA Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. The Goldman Sachs Group lifted their price target on shares of CAVA Group from $75.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday, April 13th. BNP Paribas Exane began coverage on shares of CAVA Group in a report on Monday, March 30th. They issued a “neutral” rating and a $91.00 target price on the stock. Royal Bank Of Canada boosted their target price on shares of CAVA Group from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Finally, DA Davidson began coverage on shares of CAVA Group in a report on Friday, March 6th. They issued a “neutral” rating and a $80.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, CAVA Group has a consensus rating of “Moderate Buy” and a consensus target price of $88.23.

CAVA Group Stock Down 2.0%

Shares of NYSE CAVA traded down $1.97 during midday trading on Tuesday, reaching $95.42. 569,729 shares of the company were exchanged, compared to its average volume of 3,450,739. The stock has a market cap of $11.11 billion, a P/E ratio of 177.69, a PEG ratio of 8.04 and a beta of 2.03. The stock’s 50-day moving average price is $79.84 and its 200-day moving average price is $66.23. CAVA Group has a one year low of $43.41 and a one year high of $101.50.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The company had revenue of $274.99 million for the quarter, compared to analyst estimates of $268.04 million. CAVA Group had a net margin of 5.40% and a return on equity of 8.43%. CAVA Group’s revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.05 earnings per share. On average, equities research analysts anticipate that CAVA Group will post 0.5 EPS for the current year.

Insider Transactions at CAVA Group

In other news, insider Kenneth Robert Bertram sold 994 shares of the business’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $62.14, for a total transaction of $61,767.16. Following the completion of the sale, the insider directly owned 49,122 shares of the company’s stock, valued at $3,052,441.08. The trade was a 1.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kelly Costanza sold 1,707 shares of the business’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $62.14, for a total transaction of $106,072.98. Following the sale, the insider directly owned 119,139 shares of the company’s stock, valued at approximately $7,403,297.46. The trade was a 1.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 39,055 shares of company stock valued at $2,572,303. 12.10% of the stock is owned by insiders.

Institutional Investors Weigh In On CAVA Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Aaron Wealth Advisors LLC bought a new stake in shares of CAVA Group during the first quarter worth about $286,000. Louisiana State Employees Retirement System bought a new stake in CAVA Group in the 1st quarter worth about $2,338,000. Watchman Group Inc. grew its position in CAVA Group by 0.7% in the 1st quarter. Watchman Group Inc. now owns 54,060 shares of the company’s stock worth $4,373,000 after purchasing an additional 353 shares in the last quarter. Fifth Third Wealth Advisors LLC bought a new stake in CAVA Group in the 1st quarter worth about $228,000. Finally, Thoma Capital Management LLC grew its position in CAVA Group by 9.0% in the 1st quarter. Thoma Capital Management LLC now owns 5,396 shares of the company’s stock worth $437,000 after purchasing an additional 444 shares in the last quarter. 73.15% of the stock is owned by institutional investors.

About CAVA Group

CAVA Group, Inc (NYSE: CAVA) is a leading fast-casual restaurant company specializing in Mediterranean-inspired cuisine. Operating under the CAVA brand, the company offers customizable bowls, pitas and salads built around a variety of proteins, grains, fresh vegetables and house-made spreads. With a focus on high-quality ingredients and made-to-order preparation, CAVA aims to deliver a casual yet elevated dining experience for dine-in, takeout and catering customers.

Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe’s Kitchen.