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

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

Insider Activity at CAVA Group

In related news, insider Kenneth Robert Bertram sold 678 shares of CAVA Group stock in a transaction on 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 of the company’s stock, valued at $7,129,039.68. The trade was a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Theodoros Xenohristos sold 851 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 value of $101,422.18. Following the completion of the sale, the insider now directly owns 358,995 shares of the company’s stock, valued at $42,785,024.10. The trade was a 0.24 % decrease in their position. 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 90 days. Corporate insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On CAVA Group

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of CAVA Group by 20.4% in the 4th quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company’s stock valued at $903,709,000 after acquiring an additional 1,357,187 shares during the period. FMR LLC grew its position in CAVA Group by 14.1% during the 4th quarter. FMR LLC now owns 3,976,353 shares of the company’s stock worth $448,533,000 after purchasing an additional 491,320 shares during the period. Jennison Associates LLC grew its position in CAVA Group by 36,658.7% during the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock worth $277,683,000 after purchasing an additional 2,455,035 shares during the period. Two Sigma Advisers LP grew its position in CAVA Group by 17.0% during the 3rd quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock worth $273,820,000 after purchasing an additional 321,800 shares during the period. Finally, Federated Hermes Inc. grew its position in CAVA Group by 33.0% during the 4th quarter. Federated Hermes Inc. now owns 1,464,987 shares of the company’s stock worth $165,243,000 after purchasing an additional 363,814 shares during the period. 73.15% of the stock is owned by institutional investors and hedge funds.

CAVA Group Trading Up 4.6 %

Shares of CAVA traded up $3.38 during midday trading on Friday, hitting $77.45. 3,263,878 shares of the company’s stock traded hands, compared to its average volume of 2,986,267. CAVA Group has a 1 year low of $58.22 and a 1 year high of $172.43. The firm’s fifty day moving average is $114.08 and its 200-day moving average is $124.06. The stock has a market capitalization of $8.95 billion, a price-to-earnings ratio of 168.37 and a beta of 3.58.

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

Analyst Ratings Changes

Several equities analysts have recently commented on CAVA shares. Citigroup lowered their price objective on CAVA Group from $163.00 to $140.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. Wedbush reissued an “outperform” rating and set a $150.00 price objective on shares of CAVA Group in a research note on Wednesday, February 26th. Piper Sandler raised CAVA Group from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $142.00 to $115.00 in a research note on Friday, February 28th. UBS Group reduced their price objective on CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, Barclays cut their target price on CAVA Group from $127.00 to $104.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, CAVA Group presently has a consensus rating of “Moderate Buy” and a consensus price target 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.