CAVA Group (NYSE:CAVA) Given New $97.00 Price Target at Morgan Stanley

Key Points

• Morgan Stanley has reduced its price target for CAVA Group from $107.00 to $97.00, maintaining an "equal weight" rating, suggesting a potential upside of 35.60% from the stock's last close.
• Other analysts have varied outlooks, with target prices ranging from $75.00 by UBS to $115.00 by Robert W. Baird, reflecting mixed sentiment among experts.
• In recent trading, CAVA Group's shares experienced a $12.96 decline, closing at $71.54, with a market cap of $8.27 billion and a PE ratio of 59.35.

CAVA Group (NYSE:CAVA - Get Free Report) had its price target decreased by equities research analysts at Morgan Stanley from $107.00 to $97.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's target price would suggest a potential upside of 35.60% from the stock's previous close.

Other equities analysts have also issued research reports about the company. Robert W. Baird increased their target price on CAVA Group from $105.00 to $115.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Melius initiated coverage on CAVA Group in a report on Monday, July 14th. They issued a "hold" rating and a $95.00 target price on the stock. UBS Group dropped their target price on CAVA Group from $96.00 to $75.00 and set a "neutral" rating on the stock in a report on Wednesday. Stifel Nicolaus dropped their target price on CAVA Group from $175.00 to $125.00 and set a "buy" rating on the stock in a report on Wednesday, June 18th. Finally, TD Cowen dropped their target price on CAVA Group from $120.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $105.06.

CAVA Group Stock Performance

Shares of CAVA Group stock traded down $12.96 during trading hours on Wednesday, reaching $71.54. 23,632,031 shares of the company were exchanged, compared to its average volume of 3,670,895. CAVA Group has a 1 year low of $65.70 and a 1 year high of $172.43. The stock's fifty day moving average is $83.46 and its 200 day moving average is $92.30. The firm has a market cap of $8.27 billion, a PE ratio of 59.35, a PEG ratio of 4.11 and a beta of 2.65.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.13 by $0.03. The firm had revenue of $280.62 million for the quarter, compared to analyst estimates of $285.65 million. CAVA Group had a return on equity of 10.61% and a net margin of 13.70%. CAVA Group's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.17 earnings per share. Research analysts expect that CAVA Group will post 0.5 earnings per share for the current year.

Insider Buying and Selling at CAVA Group

In other news, CFO Tricia K. Tolivar sold 4,845 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $364,150.20. Following the completion of the sale, the chief financial officer owned 236,345 shares in the company, valued at approximately $17,763,690.20. This represents a 2.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Adam David Phillips sold 739 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $55,543.24. Following the sale, the chief accounting officer owned 11,063 shares of the company's stock, valued at $831,495.08. This trade represents a 6.26% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,603 shares of company stock valued at $4,522,089. Corporate insiders own 12.10% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Neuberger Berman Group LLC raised its holdings in CAVA Group by 6,784.0% during the second quarter. Neuberger Berman Group LLC now owns 321,068 shares of the company's stock worth $27,044,000 after purchasing an additional 316,404 shares in the last quarter. Norges Bank purchased a new position in CAVA Group during the second quarter worth about $56,277,000. Scotia Capital Inc. raised its holdings in CAVA Group by 100.0% during the second quarter. Scotia Capital Inc. now owns 7,737 shares of the company's stock worth $652,000 after purchasing an additional 3,868 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in CAVA Group by 17.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 445,204 shares of the company's stock worth $37,500,000 after purchasing an additional 66,707 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in CAVA Group by 15.4% during the second quarter. State Board of Administration of Florida Retirement System now owns 77,745 shares of the company's stock worth $6,548,000 after purchasing an additional 10,360 shares in the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

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.

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