CAVA Group, Inc. (NYSE:CAVA – Get Free Report) saw a significant 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. Based on an average daily trading volume, of 2,880,000 shares, the short-interest ratio is presently 2.1 days. Approximately 6.2% of the shares of the stock are short sold.
Wall Street Analysts Forecast Growth
CAVA has been the topic of several recent research reports. TD Securities reduced their price objective on CAVA Group from $150.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Loop Capital dropped their price objective on CAVA Group from $147.00 to $100.00 and set a “hold” rating for the company in a report on Thursday, February 27th. 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 report on Wednesday, February 26th. Sanford C. Bernstein initiated coverage on CAVA Group in a research note on Wednesday, November 20th. They set a “market perform” rating and a $145.00 price target for the company. Finally, Piper Sandler raised 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 note on Friday, February 28th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $131.47.
Read Our Latest Stock Analysis on CAVA Group
Insider Buying and Selling at CAVA Group
Hedge Funds Weigh In On CAVA Group
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of CAVA Group by 20.4% in the fourth quarter. Vanguard Group Inc. now owns 8,011,602 shares of the company’s stock valued at $903,709,000 after buying an additional 1,357,187 shares during the period. FMR LLC lifted its holdings in CAVA Group by 14.1% in the 4th quarter. FMR LLC now owns 3,976,353 shares of the company’s stock valued at $448,533,000 after acquiring an additional 491,320 shares during the last quarter. Jennison Associates LLC boosted its position in shares of CAVA Group by 36,658.7% during the 4th quarter. Jennison Associates LLC now owns 2,461,732 shares of the company’s stock valued at $277,683,000 after purchasing an additional 2,455,035 shares in the last quarter. Two Sigma Advisers LP grew its stake in shares of CAVA Group by 17.0% in 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 last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of CAVA Group by 33.0% in 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 in the last quarter. 73.15% of the stock is owned by institutional investors.
CAVA Group Stock Up 4.6 %
CAVA Group stock traded up $3.38 during mid-day 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. The firm has a 50 day moving average price of $114.08 and a 200 day moving average price of $124.10. The company has a market cap of $8.95 billion, a PE ratio of 168.37 and a beta of 3.58. CAVA Group has a one year low of $58.22 and a one year high of $172.43.
CAVA Group (NYSE:CAVA – Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 earnings per share (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 company had revenue of $227.40 million during the quarter, compared to the consensus estimate of $223.34 million. On average, analysts expect that CAVA Group will post 0.5 earnings per share for the current fiscal year.
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.
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