CAVA Group, Inc. (NYSE:CAVA) Short Interest Up 8.4% in March

CAVA Group, Inc. (NYSE:CAVA) saw a significant growth in short interest in 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 trading volume, of 2,250,000 shares, the days-to-cover ratio is currently 5.2 days. Currently, 13.5% of the company’s shares are sold short.

CAVA Group Stock Up 1.8 %

CAVA stock traded up $1.11 during midday trading on Wednesday, hitting $62.86. The stock had a trading volume of 1,408,634 shares, compared to its average volume of 2,235,754. CAVA Group has a 52 week low of $29.05 and a 52 week high of $71.60. The stock has a 50-day simple moving average of $60.49 and a 200 day simple moving average of $45.72.

CAVA Group (NYSE:CAVA) last issued its earnings results on Monday, February 26th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. The firm had revenue of $175.50 million during the quarter, compared to analysts’ expectations of $240.03 million. CAVA Group had a return on equity of 4.28% and a net margin of 1.82%. The firm’s revenue for the quarter was up 52.6% on a year-over-year basis. Analysts predict that CAVA Group will post 0.24 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Piper Sandler increased their price objective on CAVA Group from $46.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. Argus upgraded CAVA Group from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Wednesday, April 10th. Citigroup increased their price objective on CAVA Group from $49.00 to $60.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Morgan Stanley increased their price target on CAVA Group from $62.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Finally, Robert W. Baird increased their price target on CAVA Group from $54.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CAVA Group currently has a consensus rating of “Moderate Buy” and an average target price of $60.42.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, Director International S.C.A. Artal sold 2,000,000 shares of the company’s stock in a transaction dated 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 sale, 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 is available through this link. In other news, Director International S.C.A. Artal sold 2,000,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $66.25, for a total value of $132,500,000.00. Following the completion of the sale, 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 is available through the SEC website. Also, Director Theodoros Xenohristos sold 47,239 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was 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 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 ninety days, insiders sold 3,547,239 shares of company stock valued at $221,525,951.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CAVA. Barclays PLC bought a new position in shares of CAVA Group during the second quarter valued at $250,000. Commonwealth Equity Services LLC bought a new position in shares of CAVA Group in the second quarter valued at about $339,000. Osaic Holdings Inc. bought a new position in shares of CAVA Group in the second quarter valued at about $74,000. BlackRock Inc. bought a new position in shares of CAVA Group in the second quarter valued at about $16,380,000. Finally, Nuveen Asset Management LLC bought a new position in shares of CAVA Group in the second quarter valued at about $20,285,000. 73.15% of the stock is owned by institutional investors.

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.