CAVA Group Sees Unusually High Options Volume (NYSE:CAVA)

CAVA Group, Inc. (NYSE:CAVA) was the recipient of unusually large options trading on Tuesday. Stock investors bought 13,252 put options on the company. This represents an increase of 37% compared to the average daily volume of 9,642 put options.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Benchmark upped their target price on shares of CAVA Group from $80.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Weiss Ratings raised CAVA Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Wolfe Research set a $95.00 target price on CAVA Group in a research report on Tuesday, June 30th. Argus set a $92.00 target price on CAVA Group in a research note on Friday, May 22nd. Finally, BNP Paribas Exane initiated coverage on CAVA Group in a research note on Monday, March 30th. They issued a “neutral” rating and a $91.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $93.54.

Insider Transactions at CAVA Group

In other CAVA Group news, Director Karen Kochevar sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $90.00, for a total value of $900,000.00. Following the sale, the director directly owned 3,074 shares in the company, valued at approximately $276,660. This trade represents a 76.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Tricia K. Tolivar sold 4,969 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $89.43, for a total transaction of $444,377.67. Following the transaction, the chief financial officer directly owned 234,931 shares of the company’s stock, valued at approximately $21,009,879.33. This trade represents a 2.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 91,747 shares of company stock valued at $7,970,838 over the last three months. 6.70% of the stock is currently owned by company insiders.

Institutional Trading of CAVA Group

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC grew its holdings in shares of CAVA Group by 74.2% during the fourth quarter. SG Americas Securities LLC now owns 32,817 shares of the company’s stock valued at $1,926,000 after buying an additional 13,977 shares in the last quarter. KBC Group NV raised its position in CAVA Group by 513.6% during the fourth quarter. KBC Group NV now owns 15,531 shares of the company’s stock valued at $912,000 after buying an additional 13,000 shares during the period. Prime Capital Management Co Ltd lifted its stake in CAVA Group by 90.6% in the 4th quarter. Prime Capital Management Co Ltd now owns 1,031,630 shares of the company’s stock worth $60,546,000 after acquiring an additional 490,300 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in CAVA Group in the 4th quarter worth about $19,460,000. Finally, Nepsis Inc. boosted its position in CAVA Group by 42.6% during the 4th quarter. Nepsis Inc. now owns 176,694 shares of the company’s stock worth $10,370,000 after acquiring an additional 52,776 shares during the period. Institutional investors and hedge funds own 73.15% of the company’s stock.

CAVA Group Price Performance

CAVA Group stock opened at $62.41 on Thursday. The firm has a 50 day simple moving average of $77.18 and a 200-day simple moving average of $77.28. The stock has a market capitalization of $7.27 billion, a PE ratio of 120.02, a price-to-earnings-growth ratio of 4.37 and a beta of 1.69. CAVA Group has a 12-month low of $43.41 and a 12-month high of $98.79.

CAVA Group (NYSE:CAVA) last announced its earnings results on Tuesday, May 19th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.17 by $0.03. The firm had revenue of $438.27 million for the quarter, compared to analysts’ expectations of $360.89 million. CAVA Group had a return on equity of 7.92% and a net margin of 4.79%.The firm’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.22 earnings per share. On average, analysts forecast that CAVA Group will post 0.55 earnings per share for the current fiscal year.

About CAVA Group

CAVA Group, Inc (NYSE: CAVA) is a leading fast-casual restaurant company specializing in Mediterranean-inspired cuisine. Operating under the CAVA brand, the company offers customizable bowls, pitas and salads built around a variety of proteins, grains, fresh vegetables and house-made spreads. With a focus on high-quality ingredients and made-to-order preparation, CAVA aims to deliver a casual yet elevated dining experience for dine-in, takeout and catering customers.

Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe’s Kitchen.