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

CAVA Group, Inc. (NYSE:CAVA - Get Free Report) was the target of a significant decrease in short interest in April. As of April 15th, there was short interest totalling 9,030,000 shares, a decrease of 17.5% from the March 31st total of 10,940,000 shares. Currently, 9.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 3,550,000 shares, the days-to-cover ratio is currently 2.5 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Utah Retirement Systems grew its stake in CAVA Group by 2.5% in the fourth quarter. Utah Retirement Systems now owns 4,100 shares of the company's stock valued at $462,000 after purchasing an additional 100 shares during the last quarter. Howard Financial Services LTD. raised its stake in shares of CAVA Group by 1.8% during the 4th quarter. Howard Financial Services LTD. now owns 6,194 shares of the company's stock worth $699,000 after acquiring an additional 109 shares in the last quarter. GAMMA Investing LLC lifted its position in CAVA Group by 37.0% during the fourth quarter. GAMMA Investing LLC now owns 422 shares of the company's stock valued at $48,000 after acquiring an additional 114 shares during the last quarter. Whittier Trust Co. boosted 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 acquiring an additional 127 shares in the last quarter. Finally, Mainstream Capital Management LLC grew its holdings in CAVA Group by 0.7% in the fourth quarter. Mainstream Capital Management LLC now owns 17,758 shares of the company's stock worth $2,003,000 after purchasing an additional 132 shares during the last quarter. Institutional investors own 73.15% of the company's stock.

CAVA Group Price Performance

Shares of CAVA stock traded down $0.06 during mid-day trading on Wednesday, hitting $93.27. The company had a trading volume of 1,347,606 shares, compared to its average volume of 3,098,129. The company has a market capitalization of $10.79 billion, a P/E ratio of 203.23 and a beta of 3.28. The stock's 50 day moving average price is $86.15 and its 200-day moving average price is $113.96. CAVA Group has a 52-week low of $70.00 and a 52-week high of $172.43.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share 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 business had revenue of $227.40 million during the quarter, compared to analysts' expectations of $223.34 million. On average, equities research analysts expect that CAVA Group will post 0.5 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on CAVA. Piper Sandler raised CAVA Group from a "neutral" rating to an "overweight" rating and lowered their price target for the company from $142.00 to $115.00 in a research report on Friday, February 28th. William Blair reiterated an "outperform" rating on shares of CAVA Group in a report on Wednesday, February 26th. Citigroup lowered their target price on CAVA Group from $163.00 to $140.00 and set a "neutral" rating for the company in a research note on Friday, February 21st. Sanford C. Bernstein upgraded CAVA Group from a "market perform" rating to an "outperform" rating and set a $115.00 price objective for the company in a report on Wednesday, April 23rd. Finally, Wedbush reaffirmed an "outperform" rating and issued a $150.00 target price on shares of CAVA Group in a research report on Wednesday, February 26th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $124.19.

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.