Investors Purchase High Volume of Call Options on CAVA Group (NYSE:CAVA)

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CAVA. Citigroup upped their price objective on shares of CAVA Group from $49.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Wedbush boosted their target price on shares of CAVA Group from $65.00 to $74.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 16th. Barclays assumed coverage on shares of CAVA Group in a research note on Monday, April 15th. They set an “equal weight” rating and a $58.00 target price for the company. William Blair reissued an “outperform” rating on shares of CAVA Group in a research note on Tuesday, February 27th. Finally, Piper Sandler boosted their target price on shares of CAVA Group from $46.00 to $63.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $60.42.

CAVA Group Stock Up 10.4 %

NYSE CAVA opened at $69.13 on Friday. The firm’s fifty day moving average price is $62.11 and its 200 day moving average price is $47.46. CAVA Group has a 12 month low of $29.05 and a 12 month high of $71.60.

CAVA Group (NYSE:CAVA) last posted its earnings results on Monday, February 26th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $175.50 million for the quarter, compared to the consensus estimate of $240.03 million. CAVA Group had a net margin of 1.82% and a return on equity of 4.28%. The firm’s revenue for the quarter was up 52.6% compared to the same quarter last year. Equities analysts anticipate that CAVA Group will post 0.25 EPS for the current year.

Insider Activity at CAVA Group

In related news, Director Theodoros Xenohristos sold 47,239 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $68.29, for a total transaction of $3,225,951.31. Following the completion of the transaction, the director now directly owns 526,521 shares in the company, valued at $35,956,119.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other CAVA Group news, Director International S.C.A. Artal sold 2,000,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now owns 26,507,990 shares in the company, valued at $1,756,154,337.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Theodoros Xenohristos sold 47,239 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $68.29, for a total transaction of $3,225,951.31. Following the completion of the transaction, the director now owns 526,521 shares of the company’s stock, valued at approximately $35,956,119.09. The disclosure for this sale can be found here. Insiders sold 3,547,239 shares of company stock worth $221,525,951 over the last three months.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Research Global Investors grew its position in CAVA Group by 249.5% during the 4th quarter. Capital Research Global Investors now owns 4,369,281 shares of the company’s stock worth $187,792,000 after purchasing an additional 3,119,281 shares during the last quarter. 1832 Asset Management L.P. grew its position in CAVA Group by 79.5% during the 4th quarter. 1832 Asset Management L.P. now owns 2,248,400 shares of the company’s stock worth $96,636,000 after purchasing an additional 995,800 shares during the last quarter. Vanguard Group Inc. grew its position in CAVA Group by 15.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,460,824 shares of the company’s stock worth $44,745,000 after purchasing an additional 196,019 shares during the last quarter. Jennison Associates LLC grew its position in CAVA Group by 24.7% during the 4th quarter. Jennison Associates LLC now owns 1,222,240 shares of the company’s stock worth $52,532,000 after purchasing an additional 242,376 shares during the last quarter. Finally, FMR LLC grew its position in CAVA Group by 92.1% during the 3rd quarter. FMR LLC now owns 1,138,113 shares of the company’s stock worth $34,860,000 after purchasing an additional 545,799 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.