CAVA Group, Inc. (NYSE:CAVA) Short Interest Up 54.2% in March

CAVA Group, Inc. (NYSE:CAVA) was the target of a large increase in short interest during 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. Approximately 9.5% of the shares of the company are short sold. Based on an average daily volume of 2,940,000 shares, the short-interest ratio is currently 3.2 days.

Insider Buying and Selling

In other CAVA Group news, CAO Adam David Phillips sold 615 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $124.39, for a total transaction of $76,499.85. Following the completion of the transaction, the chief accounting officer now directly owns 10,884 shares of the company’s stock, valued at $1,353,860.76. The trade was a 5.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brett Schulman sold 20,564 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $2,450,817.52. Following the completion of the sale, the chief executive officer now owns 776,369 shares in the company, valued at $92,527,657.42. The trade was a 2.58 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,235 shares of company stock valued at $3,514,101. Insiders own 12.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System lifted its position in shares of CAVA Group by 34.8% during the fourth quarter. California State Teachers Retirement System now owns 74,542 shares of the company’s stock worth $8,408,000 after purchasing an additional 19,225 shares in the last quarter. Cim LLC bought a new position in CAVA Group in the 4th quarter valued at $1,073,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of CAVA Group during the fourth quarter valued at $12,561,000. Jefferies Financial Group Inc. increased its position in CAVA Group by 84.6% in the fourth quarter. Jefferies Financial Group Inc. now owns 10,795 shares of the company’s stock worth $1,218,000 after purchasing an additional 4,946 shares during the period. Finally, Liberty Square Wealth Partners LLC acquired a new position in CAVA Group during the 4th quarter valued at about $203,000. 73.15% of the stock is owned by institutional investors.

CAVA Group Price Performance

Shares of CAVA Group stock opened at $86.53 on Tuesday. The company’s fifty day moving average price is $107.40 and its two-hundred day moving average price is $121.67. The firm has a market capitalization of $10.00 billion, a PE ratio of 188.10 and a beta of 3.58. CAVA Group has a 52-week low of $58.22 and a 52-week high of $172.43.

CAVA Group (NYSE:CAVA) last announced its earnings results 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 return on equity of 9.10% and a net margin of 5.88%. The business had revenue of $227.40 million during the quarter, compared to analyst estimates of $223.34 million. Analysts predict that CAVA Group will post 0.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Piper Sandler raised CAVA Group from a “neutral” rating to an “overweight” rating and decreased their price target for the company from $142.00 to $115.00 in a research note on Friday, February 28th. Wedbush reiterated an “outperform” rating and issued a $150.00 price target on shares of CAVA Group in a research report on Wednesday, February 26th. William Blair reiterated an “outperform” rating on shares of CAVA Group in a report on Wednesday, February 26th. TD Securities lowered their target price 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, JPMorgan Chase & Co. raised shares of CAVA Group from a “neutral” rating to an “overweight” rating and set a $110.00 price target for the company in a research report on Thursday, March 20th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $130.25.

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.