CAVA Group, Inc. (NYSE:CAVA) Short Interest Down 32.6% in February

CAVA Group, Inc. (NYSE:CAVA) saw a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 6,070,000 shares, a decrease 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 days-to-cover ratio is presently 2.1 days. Approximately 6.2% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Citigroup lowered their price target on shares of CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. Sanford C. Bernstein began coverage on CAVA Group in a report on Wednesday, November 20th. They set a “market perform” rating and a $145.00 target price on the stock. Piper Sandler raised CAVA Group from a “neutral” rating to an “overweight” rating and cut their price target for the company from $142.00 to $115.00 in a report on Friday, February 28th. TD Securities lowered their price objective on CAVA Group from $150.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Finally, UBS Group cut their target price on CAVA Group from $160.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, CAVA Group has an average rating of “Moderate Buy” and an average target price of $131.47.

Insider Buying and Selling

In related news, insider Theodoros Xenohristos sold 851 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total value of $101,422.18. Following the transaction, the insider now directly owns 358,995 shares of the company’s stock, valued at approximately $42,785,024.10. This trade represents a 0.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kenneth Robert Bertram sold 678 shares of CAVA Group stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $124.39, for a total value of $84,336.42. Following the completion of the sale, the insider now owns 57,312 shares in the company, valued at approximately $7,129,039.68. The trade was a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,235 shares of company stock valued at $3,514,101. 12.10% of the stock is owned by company insiders.

Institutional Trading of CAVA Group

Several hedge funds have recently added to or reduced their stakes in CAVA. Arcadia Investment Management Corp MI purchased a new stake in shares of CAVA Group in the 4th quarter valued at approximately $25,000. Allworth Financial LP grew its stake in shares of CAVA Group by 369.2% during the fourth quarter. Allworth Financial LP now owns 244 shares of the company’s stock worth $30,000 after purchasing an additional 192 shares in the last quarter. Larson Financial Group LLC increased its holdings in CAVA Group by 274.0% in the fourth quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock valued at $31,000 after buying an additional 200 shares during the last quarter. Whittier Trust Co. raised its stake in 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 buying an additional 127 shares in the last quarter. Finally, Signaturefd LLC boosted its position in shares of CAVA Group by 884.4% during the 4th quarter. Signaturefd LLC now owns 315 shares of the company’s stock worth $36,000 after acquiring an additional 283 shares in the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

CAVA Group Stock Performance

Shares of NYSE:CAVA traded up $1.21 during trading on Monday, hitting $78.69. The company’s stock had a trading volume of 3,090,529 shares, compared to its average volume of 2,889,165. CAVA Group has a fifty-two week low of $58.22 and a fifty-two week high of $172.43. The business has a 50 day moving average price of $114.08 and a two-hundred day moving average price of $124.14. The company has a market capitalization of $9.10 billion, a PE ratio of 171.06 and a beta of 3.58.

CAVA Group (NYSE:CAVA) last issued its quarterly 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 company 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%. As a group, equities analysts expect that CAVA Group will post 0.5 earnings per share for the current fiscal year.

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.