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

CAVA Group (NYSE:CAVA - Get Free Report) received a $107.00 price target from research analysts at Morgan Stanley in a report issued on Monday, Marketbeat.com reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's target price indicates a potential upside of 19.23% from the stock's current price.

Other equities analysts have also issued research reports about the stock. Robert W. Baird lifted their price target on shares of CAVA Group from $105.00 to $115.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Citigroup increased their target price on CAVA Group from $114.00 to $115.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. KeyCorp assumed coverage on CAVA Group in a research note on Wednesday, July 2nd. They set an "overweight" rating and a $100.00 target price for the company. TD Securities reiterated a "buy" rating and issued a $120.00 price objective on shares of CAVA Group in a research report on Friday, May 16th. Finally, Bank of America raised their price objective on CAVA Group from $112.00 to $121.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, CAVA Group currently has an average rating of "Moderate Buy" and a consensus price target of $115.00.

CAVA Group Stock Performance

NYSE:CAVA traded down $2.31 during trading hours on Monday, hitting $89.74. 1,192,912 shares of the company's stock traded hands, compared to its average volume of 3,223,669. The firm has a market cap of $10.38 billion, a P/E ratio of 74.79, a P/E/G ratio of 4.32 and a beta of 2.65. CAVA Group has a twelve month low of $70.00 and a twelve month high of $172.43. The stock's fifty day moving average price is $84.37 and its two-hundred day moving average price is $96.55.

CAVA Group (NYSE:CAVA - Get Free Report) last issued its earnings results on Thursday, May 15th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.08. CAVA Group had a return on equity of 10.61% and a net margin of 13.70%. The company had revenue of $331.83 million for the quarter, compared to analyst estimates of $327.98 million. During the same period in the prior year, the firm posted $0.12 EPS. The business's revenue was up 28.1% compared to the same quarter last year. On average, equities research analysts predict that CAVA Group will post 0.5 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Brett Schulman sold 31,856 shares of CAVA Group stock in a transaction 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 completion of 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Theodoros Xenohristos sold 3,062 shares of CAVA Group stock in a transaction on Monday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $230,139.92. Following the transaction, the insider directly owned 350,209 shares in the company, valued at approximately $26,321,708.44. This represents a 0.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 67,951 shares of company stock worth $5,409,027. 6.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Utah Retirement Systems lifted its holdings in CAVA Group by 2.5% during the fourth quarter. Utah Retirement Systems now owns 4,100 shares of the company's stock worth $462,000 after acquiring an additional 100 shares in the last quarter. Whittier Trust Co. lifted its holdings in shares of CAVA Group by 80.9% in the fourth quarter. Whittier Trust Co. now owns 284 shares of the company's stock valued at $32,000 after purchasing an additional 127 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of CAVA Group by 37.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 530 shares of the company's stock valued at $46,000 after purchasing an additional 144 shares in the last quarter. Miracle Mile Advisors LLC lifted its holdings in shares of CAVA Group by 1.9% in the first quarter. Miracle Mile Advisors LLC now owns 8,247 shares of the company's stock valued at $713,000 after purchasing an additional 150 shares in the last quarter. Finally, Centurion Wealth Management LLC lifted its holdings in shares of CAVA Group by 8.8% in the fourth quarter. Centurion Wealth Management LLC now owns 1,913 shares of the company's stock valued at $216,000 after purchasing an additional 154 shares in the last quarter. 73.15% of the stock is currently owned by 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.