CAVA Group, Inc. (NYSE:CAVA) Sees Significant Growth in Short Interest

CAVA Group, Inc. (NYSE:CAVA) saw a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 11,770,000 shares, a growth of 8.4% from the March 15th total of 10,860,000 shares. Based on an average daily volume of 2,250,000 shares, the short-interest ratio is currently 5.2 days. Currently, 13.5% of the shares of the stock are short sold.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. TD Cowen reaffirmed a “buy” rating and issued a $63.00 price objective on shares of CAVA Group in a research note on Wednesday, April 10th. Barclays started coverage on shares of CAVA Group in a research note on Monday. They issued an “equal weight” rating and a $58.00 price objective for the company. Citigroup boosted their target price on shares of CAVA Group from $49.00 to $60.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Wedbush boosted their target price on shares of CAVA Group from $65.00 to $74.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Robert W. Baird boosted their target price on shares of CAVA Group from $54.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $60.42.

Insider Buying and Selling

In other CAVA Group news, Director International S.C.A. Artal sold 2,000,000 shares of CAVA Group stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $66.25, for a total transaction of $132,500,000.00. Following the completion of the transaction, the director now directly owns 26,507,990 shares of the company’s stock, valued at $1,756,154,337.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other CAVA Group news, Director International S.C.A. Artal sold 2,000,000 shares of CAVA Group stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $66.25, for a total transaction of $132,500,000.00. Following the completion of the transaction, the director now directly owns 26,507,990 shares of the company’s stock, valued at $1,756,154,337.50. The transaction 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 the business’s stock in a transaction 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 sale, the director now directly owns 526,521 shares of the company’s stock, valued at $35,956,119.09. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,547,239 shares of company stock worth $221,525,951.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio lifted its position in shares of CAVA Group by 2.8% during 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 in the last quarter. 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 valued at $35,000 after buying an additional 254 shares in 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 valued at $27,000 after buying an additional 570 shares in 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 valued at $1,834,000 after buying an additional 570 shares in the last quarter. Finally, Montag A & Associates Inc. purchased a new position in shares of CAVA Group during the 4th quarter valued at approximately $26,000. Hedge funds and other institutional investors own 73.15% of the company’s stock.

CAVA Group Trading Down 2.1 %

CAVA Group stock traded down $1.30 during mid-day trading on Wednesday, hitting $61.56. The company had a trading volume of 1,650,466 shares, compared to its average volume of 2,236,657. CAVA Group has a 12-month low of $29.05 and a 12-month high of $71.60. The company’s fifty day moving average is $60.49 and its 200-day moving average is $45.72.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Monday, February 26th. The company reported $0.02 EPS for the quarter, topping 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 business had revenue of $175.50 million for the quarter, compared to analyst estimates of $240.03 million. The business’s quarterly revenue was up 52.6% on a year-over-year basis. Analysts anticipate that CAVA Group will post 0.24 earnings per share for the current year.

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.