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

CAVA Group, Inc. (NYSE:CAVA) was the target of unusually large options trading on Monday. Stock investors acquired 22,859 call options on the company. This represents an increase of 41% compared to the average daily volume of 16,172 call options.

Analyst Ratings Changes

Several research firms have recently commented on CAVA. Morgan Stanley boosted their price objective on CAVA Group from $68.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, May 29th. William Blair restated an “outperform” rating on shares of CAVA Group in a report on Tuesday, February 27th. Wedbush raised their price objective on shares of CAVA Group from $74.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, May 29th. TD Cowen boosted their target price on shares of CAVA Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Finally, Barclays upped their target price on shares of CAVA Group from $58.00 to $72.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $81.50.

CAVA Group Stock Up 1.5 %

Shares of NYSE CAVA opened at $95.39 on Wednesday. The company has a market capitalization of $10.88 billion and a PE ratio of 232.66. The stock’s 50 day moving average price is $76.94 and its 200-day moving average price is $60.39. CAVA Group has a twelve month low of $29.05 and a twelve month high of $96.93.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings results on Tuesday, May 28th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.08. The business had revenue of $259.01 million for the quarter, compared to analyst estimates of $246.02 million. CAVA Group had a return on equity of 5.18% and a net margin of 3.75%. CAVA Group’s revenue for the quarter was up 27.5% compared to the same quarter last year. As a group, research analysts expect that CAVA Group will post 0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other CAVA Group news, Director International S.C.A. Artal sold 2,000,000 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 26,507,990 shares in the company, valued at approximately $1,756,154,337.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Kenneth Robert Bertram sold 5,250 shares of the business’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $95.28, for a total value of $500,220.00. Following the completion of the sale, the insider now directly owns 67,005 shares of the company’s stock, valued at approximately $6,384,236.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director International S.C.A. Artal sold 2,000,000 shares of the company’s 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 transaction, the director now directly owns 26,507,990 shares in the company, valued at $1,756,154,337.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,371,854 shares of company stock worth $251,663,884.

Hedge Funds Weigh In On CAVA Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC increased its stake in shares of CAVA Group by 80.0% during the 3rd quarter. Barclays PLC now owns 10,982 shares of the company’s stock worth $335,000 after purchasing an additional 4,882 shares during the last quarter. Amalgamated Bank bought a new position in CAVA Group during the third quarter valued at $103,000. Janney Montgomery Scott LLC purchased a new stake in CAVA Group in the third quarter worth $480,000. State Board of Administration of Florida Retirement System bought a new stake in shares of CAVA Group in the third quarter valued at $449,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of CAVA Group by 190.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock valued at $27,000 after buying an additional 570 shares during the last quarter. 73.15% of the stock is 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.