CAVA Group, Inc. (NYSE:CAVA) Short Interest Update

CAVA Group, Inc. (NYSE:CAVA) was the target of a large decline in short interest in February. As of February 28th, there was short interest totalling 6,070,000 shares, a decline of 32.6% from the February 13th total of 9,010,000 shares. Based on an average daily volume of 2,880,000 shares, the short-interest ratio is currently 2.1 days. Currently, 6.2% of the company’s stock are short sold.

CAVA Group Trading Up 4.6 %

CAVA traded up $3.38 on Friday, hitting $77.45. 3,263,878 shares of the company were exchanged, compared to its average volume of 2,986,267. The firm has a 50-day moving average price of $114.08 and a two-hundred day moving average price of $124.10. The company has a market cap of $8.95 billion, a price-to-earnings ratio of 168.37 and a beta of 3.58. CAVA Group has a twelve month low of $58.22 and a twelve month high of $172.43.

CAVA Group (NYSE:CAVA) last posted its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $227.40 million for the quarter, compared to analysts’ expectations of $223.34 million. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. Equities analysts expect that CAVA Group will post 0.5 EPS for the current year.

Insider Buying and Selling at CAVA Group

In related news, insider Theodoros Xenohristos sold 851 shares of CAVA Group stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total value of $101,422.18. Following the completion of the sale, the insider now directly owns 358,995 shares in the company, valued at $42,785,024.10. This trade represents a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Brett Schulman sold 20,564 shares of CAVA Group stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total transaction of $2,450,817.52. Following the sale, the chief executive officer now owns 776,369 shares of the company’s stock, valued at $92,527,657.42. The trade was a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,235 shares of company stock valued at $3,514,101 in the last ninety days. Corporate insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On CAVA Group

A number of hedge funds and other institutional investors have recently bought and sold shares of CAVA. Cim LLC acquired a new stake in shares of CAVA Group in the 4th quarter worth $1,073,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in CAVA Group in the fourth quarter valued at about $12,561,000. Jefferies Financial Group Inc. boosted its holdings in CAVA Group by 84.6% in the 4th quarter. Jefferies Financial Group Inc. now owns 10,795 shares of the company’s stock valued at $1,218,000 after purchasing an additional 4,946 shares in the last quarter. Liberty Square Wealth Partners LLC acquired a new position in CAVA Group during the 4th quarter worth approximately $203,000. Finally, Forum Financial Management LP purchased a new position in shares of CAVA Group during the 4th quarter worth approximately $230,000. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CAVA has been the topic of a number of research reports. UBS Group cut their price objective on CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Wedbush reaffirmed an “outperform” rating and issued a $150.00 price target on shares of CAVA Group in a report on Wednesday, February 26th. Citigroup cut their price objective on shares of CAVA Group from $163.00 to $140.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Sanford C. Bernstein initiated coverage on CAVA Group in a research note on Wednesday, November 20th. They set a “market perform” rating and a $145.00 price objective for the company. Finally, TD Securities decreased their price target on shares of CAVA Group from $150.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.47.

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.