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

CAVA Group, Inc. (NYSE:CAVA) was the recipient of a significant growth in short interest in March. As of March 31st, there was short interest totalling 11,770,000 shares, a growth of 8.4% from the March 15th total of 10,860,000 shares. Approximately 13.5% of the company’s shares are sold short. Based on an average daily volume of 2,250,000 shares, the days-to-cover ratio is currently 5.2 days.

CAVA Group Stock Up 1.8 %

CAVA stock traded up $1.11 during midday trading on Wednesday, hitting $62.86. The company’s stock had a trading volume of 1,408,634 shares, compared to its average volume of 2,235,754. The stock’s 50-day moving average price is $60.49 and its 200 day moving average price is $45.72. CAVA Group has a 1 year low of $29.05 and a 1 year high of $71.60.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Monday, February 26th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. CAVA Group had a return on equity of 4.28% and a net margin of 1.82%. The business had revenue of $175.50 million for the quarter, compared to analysts’ expectations of $240.03 million. The company’s quarterly revenue was up 52.6% on a year-over-year basis. Analysts expect that CAVA Group will post 0.24 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CAVA. TD Cowen reiterated a “buy” rating and issued a $63.00 target price on shares of CAVA Group in a report on Wednesday, April 10th. JPMorgan Chase & Co. lifted their target price on CAVA Group from $50.00 to $64.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Barclays assumed coverage on CAVA Group in a report on Monday. They set an “equal weight” rating and a $58.00 price objective for the company. William Blair restated an “outperform” rating on shares of CAVA Group in a report on Tuesday, February 27th. Finally, Robert W. Baird boosted their price objective on CAVA Group from $54.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $60.42.

Insider Activity

In other news, Director International S.C.A. Artal sold 2,000,000 shares of CAVA Group stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $66.25, for a total transaction of $132,500,000.00. Following the sale, the director now directly owns 26,507,990 shares of the company’s stock, valued at $1,756,154,337.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Theodoros Xenohristos sold 47,239 shares of CAVA Group stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $68.29, for a total value of $3,225,951.31. Following the transaction, the director now directly owns 526,521 shares of the company’s stock, valued at $35,956,119.09. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director International S.C.A. Artal sold 2,000,000 shares of CAVA Group stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $66.25, for a total value of $132,500,000.00. Following the completion of the sale, the director now owns 26,507,990 shares of the company’s stock, valued at $1,756,154,337.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,547,239 shares of company stock valued at $221,525,951.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Capital Research Global Investors lifted its position in shares of CAVA Group by 249.5% during the 4th quarter. Capital Research Global Investors now owns 4,369,281 shares of the company’s stock valued at $187,792,000 after buying an additional 3,119,281 shares during the last quarter. 1832 Asset Management L.P. raised its stake in shares of CAVA Group by 79.5% during the 4th quarter. 1832 Asset Management L.P. now owns 2,248,400 shares of the company’s stock valued at $96,636,000 after purchasing an additional 995,800 shares during the period. Vanguard Group Inc. raised its stake in shares of CAVA Group by 7.2% during the 4th quarter. Vanguard Group Inc. now owns 1,566,196 shares of the company’s stock valued at $67,315,000 after purchasing an additional 105,372 shares during the period. Jennison Associates LLC raised its stake in shares of CAVA Group by 24.7% during the 4th quarter. Jennison Associates LLC now owns 1,222,240 shares of the company’s stock valued at $52,532,000 after purchasing an additional 242,376 shares during the period. Finally, FMR LLC raised its stake in shares of CAVA Group by 92.1% during the 3rd quarter. FMR LLC now owns 1,138,113 shares of the company’s stock valued at $34,860,000 after purchasing an additional 545,799 shares during the period. Hedge funds and other institutional investors own 73.15% of the company’s stock.

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.