CAVA Group (NYSE:CAVA) Given a $107.00 Price Target at Morgan Stanley

CAVA Group (NYSE:CAVA) has been assigned a $107.00 price target by equities research analysts at Morgan Stanley in a research note issued to investors on Monday, MarketBeat reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 21.25% from the company’s previous close.

A number of other brokerages have also commented on CAVA. Bank of America increased their price target on shares of CAVA Group from $112.00 to $121.00 and gave the stock a “buy” rating in a report on Monday, May 19th. Stifel Nicolaus dropped their price target on shares of CAVA Group from $175.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, June 18th. Melius started coverage on CAVA Group in a research note on Monday. They issued a “hold” rating and a $95.00 target price on the stock. Citigroup upped their target price on CAVA Group from $114.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. Finally, KeyCorp began coverage on CAVA Group in a research report on Wednesday, July 2nd. They set an “overweight” rating and a $100.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $115.00.

CAVA Group Stock Down 1.8%

NYSE CAVA opened at $88.25 on Monday. The stock has a fifty day simple moving average of $84.14 and a 200 day simple moving average of $96.32. CAVA Group has a twelve month low of $70.00 and a twelve month high of $172.43. The company has a market capitalization of $10.21 billion, a price-to-earnings ratio of 73.54, a PEG ratio of 4.22 and a beta of 2.65.

CAVA Group (NYSE:CAVA) last released its quarterly earnings results on Thursday, May 15th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.08. CAVA Group had a return on equity of 10.61% and a net margin of 13.70%. The business had revenue of $331.83 million during the quarter, compared to analyst estimates of $327.98 million. During the same period in the prior year, the firm posted $0.12 EPS. CAVA Group’s quarterly revenue was up 28.1% compared to the same quarter last year. Research analysts expect that CAVA Group will post 0.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CAVA Group news, CEO Brett Schulman sold 31,856 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $2,394,296.96. Following the sale, the chief executive officer directly owned 792,318 shares of the company’s stock, valued at $59,550,620.88. The trade was a 3.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jennifer Somers sold 2,861 shares of CAVA Group stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $215,032.76. Following the transaction, the insider directly owned 137,048 shares of the company’s stock, valued at approximately $10,300,527.68. This represents a 2.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,951 shares of company stock worth $5,409,027. Insiders own 12.10% of the company’s stock.

Institutional Trading of CAVA Group

Several hedge funds and other institutional investors have recently bought and sold shares of CAVA. Victory Capital Management Inc. lifted its position in CAVA Group by 46.7% during the fourth quarter. Victory Capital Management Inc. now owns 29,851 shares of the company’s stock valued at $3,367,000 after purchasing an additional 9,497 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of CAVA Group during the fourth quarter worth about $2,697,000. PNC Financial Services Group Inc. increased its stake in CAVA Group by 13.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,443 shares of the company’s stock worth $276,000 after buying an additional 289 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of CAVA Group by 40.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,712 shares of the company’s stock valued at $1,660,000 after acquiring an additional 4,242 shares in the last quarter. Finally, EverSource Wealth Advisors LLC purchased a new position in CAVA Group in the 4th quarter valued at $63,000. 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.