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

CAVA Group, Inc. (NYSE:CAVA) saw some unusual options trading activity on Friday. Investors purchased 17,175 call options on the stock. This is an increase of approximately 105% compared to the typical volume of 8,375 call options.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CAVA. Wedbush increased their price target on CAVA Group from $65.00 to $74.00 and gave the stock an “outperform” rating in a report on Tuesday, April 16th. TD Cowen reissued a “buy” rating and issued a $63.00 price target on shares of CAVA Group in a research note on Wednesday, April 10th. Argus raised shares of CAVA Group from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Wednesday, April 10th. William Blair reaffirmed an “outperform” rating on shares of CAVA Group in a research report on Tuesday, February 27th. Finally, Barclays started coverage on CAVA Group in a report on Monday, April 15th. They issued an “equal weight” rating and a $58.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.42.

CAVA Group Stock Performance

NYSE CAVA traded up $6.54 during trading hours on Friday, reaching $69.13. 5,829,942 shares of the company were exchanged, compared to its average volume of 2,226,709. The business’s 50 day simple moving average is $62.11 and its 200-day simple moving average is $47.46. 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 earnings results on Monday, February 26th. The company reported $0.02 earnings per share (EPS) 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 firm had revenue of $175.50 million for the quarter, compared to the consensus estimate of $240.03 million. The business’s quarterly revenue was up 52.6% on a year-over-year basis. On average, research analysts predict that CAVA Group will post 0.25 EPS for the current year.

Insider Activity

In other CAVA Group news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $57.20, for a total value of $85,800,000.00. Following the completion of the transaction, the insider now owns 4,457,634 shares in the company, valued at approximately $254,976,664.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other CAVA Group news, 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 shares were sold at an average price of $66.25, for a total value of $132,500,000.00. Following the transaction, the director now 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 SEC, which is accessible through this link. Also, major shareholder Ronald M. Shaich sold 1,500,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $57.20, for a total value of $85,800,000.00. Following the transaction, the insider now owns 4,457,634 shares in the company, valued at approximately $254,976,664.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,547,239 shares of company stock valued at $221,525,951.

Hedge Funds Weigh In On CAVA Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. raised its stake in CAVA Group by 527.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 35,575 shares of the company’s stock valued at $2,492,000 after purchasing an additional 29,904 shares in the last quarter. PSI Advisors LLC raised its position in shares of CAVA Group by 1,133.3% during the 1st quarter. PSI Advisors LLC now owns 925 shares of the company’s stock valued at $65,000 after buying an additional 850 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its holdings in shares of CAVA Group by 1,091.7% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 3,575 shares of the company’s stock worth $250,000 after acquiring an additional 3,275 shares during the last quarter. Dakota Wealth Management grew its position in CAVA Group by 80.2% in the first quarter. Dakota Wealth Management now owns 45,123 shares of the company’s stock worth $3,161,000 after acquiring an additional 20,085 shares in the last quarter. Finally, Bfsg LLC bought a new position in CAVA Group in the first quarter valued at $997,000. 73.15% of the stock is currently owned by hedge funds and other institutional investors.

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.