CAVA Group (NYSE:CAVA) Price Target Increased to $68.00 by Analysts at Morgan Stanley

CAVA Group (NYSE:CAVAFree Report) had its price target hoisted by Morgan Stanley from $62.00 to $68.00 in a research report sent to investors on Friday, Benzinga reports. The firm currently has an overweight rating on the stock.

Other analysts have also issued research reports about the company. Robert W. Baird increased their price objective on CAVA Group from $54.00 to $62.00 and gave the company an outperform rating in a 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, April 10th. William Blair reissued an outperform rating on shares of CAVA Group in a research report on Tuesday, February 27th. Wedbush reissued an outperform rating and issued a $65.00 target price (up from $59.00) on shares of CAVA Group in a research report on Tuesday, February 27th. Finally, Piper Sandler upped their target price on CAVA Group from $46.00 to $63.00 and gave the company an overweight rating in a research report on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $59.82.

Get Our Latest Stock Report on CAVA Group

CAVA Group Stock Performance

CAVA Group stock opened at $63.75 on Friday. The business has a fifty day moving average of $60.23 and a two-hundred day moving average of $45.51. CAVA Group has a twelve month low of $29.05 and a twelve month high of $71.60.

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

Insiders Place Their Bets

In other CAVA Group news, Director Theodoros Xenohristos sold 47,239 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $68.29, for a total value of $3,225,951.31. Following the transaction, the director now directly owns 526,521 shares of the company’s stock, valued at approximately $35,956,119.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $57.20, for a total transaction of $85,800,000.00. Following the completion of the sale, the insider now owns 4,457,634 shares in the company, valued at approximately $254,976,664.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Theodoros Xenohristos sold 47,239 shares of CAVA Group stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $68.29, for a total transaction of $3,225,951.31. Following the completion of the sale, the director now owns 526,521 shares of the company’s stock, valued at approximately $35,956,119.09. The disclosure for this sale can be found here. Insiders have sold 3,547,239 shares of company stock valued at $221,525,951 in the last ninety days.

Institutional Trading of CAVA Group

Several institutional investors have recently added to or reduced their stakes in CAVA. Public Employees Retirement System of Ohio boosted its position in CAVA Group by 2.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 6,763 shares of the company’s stock valued at $291,000 after buying an additional 185 shares during the period. CWM LLC lifted its position in shares of CAVA Group by 101.2% during the 1st quarter. CWM LLC now owns 505 shares of the company’s stock worth $35,000 after purchasing an additional 254 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of CAVA Group by 190.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock worth $27,000 after purchasing an additional 570 shares during the last quarter. Nuveen Asset Management LLC lifted its position in shares of CAVA Group by 1.4% during the 4th quarter. Nuveen Asset Management LLC now owns 42,679 shares of the company’s stock worth $1,834,000 after purchasing an additional 570 shares during the last quarter. Finally, Montag A & Associates Inc. purchased a new stake in shares of CAVA Group during the 4th quarter worth $26,000. 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.

Further Reading

Analyst Recommendations for CAVA Group (NYSE:CAVA)

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