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

CAVA Group, Inc. (NYSE:CAVA) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 9,360,000 shares, an increase of 54.2% from the February 28th total of 6,070,000 shares. Based on an average daily volume of 2,940,000 shares, the short-interest ratio is presently 3.2 days. Approximately 9.5% of the shares of the company are sold short.

CAVA Group Stock Performance

Shares of NYSE:CAVA traded up $0.68 during trading on Monday, reaching $86.53. The company had a trading volume of 4,158,120 shares, compared to its average volume of 3,035,169. CAVA Group has a twelve month low of $58.22 and a twelve month high of $172.43. The firm has a market capitalization of $10.00 billion, a PE ratio of 188.10 and a beta of 3.58. The firm’s fifty day moving average is $108.04 and its 200 day moving average is $121.95.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CAVA shares. JPMorgan Chase & Co. raised shares of CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 price objective for the company in a research note on Thursday, March 20th. Loop Capital cut their price target on CAVA Group from $147.00 to $100.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Piper Sandler upgraded CAVA Group from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $142.00 to $115.00 in a research report on Friday, February 28th. Barclays dropped their price objective on CAVA Group from $127.00 to $104.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Finally, Citigroup decreased 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 note on Friday, February 21st. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, CAVA Group presently has a consensus rating of “Moderate Buy” and an average target price of $130.25.

Insider Activity

In related news, CFO Tricia K. Tolivar sold 2,086 shares of CAVA Group stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total value of $248,609.48. Following the sale, the chief financial officer now directly owns 235,592 shares in the company, valued at $28,077,854.56. The trade was a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kenneth Robert Bertram sold 678 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $84,336.42. Following the transaction, the insider now directly owns 57,312 shares in the company, valued at approximately $7,129,039.68. This trade represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,235 shares of company stock valued at $3,514,101. Company insiders own 12.10% of the company’s stock.

Institutional Investors Weigh In On CAVA Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Conway Capital Management Inc. acquired a new stake in CAVA Group during the third quarter valued at approximately $5,524,000. Charles Schwab Investment Management Inc. lifted its position in shares of CAVA Group by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 527,868 shares of the company’s stock valued at $59,544,000 after acquiring an additional 11,776 shares during the last quarter. Entropy Technologies LP acquired a new position in shares of CAVA Group in the 4th quarter worth $2,097,000. Empowered Funds LLC acquired a new stake in shares of CAVA Group during the fourth quarter worth $5,007,000. Finally, Legacy Capital Wealth Partners LLC lifted its holdings in shares of CAVA Group by 71.9% during the fourth quarter. Legacy Capital Wealth Partners LLC now owns 13,658 shares of the company’s stock valued at $1,541,000 after purchasing an additional 5,712 shares during the last quarter. 73.15% of the stock is owned by institutional investors and hedge funds.

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.