Investors Buy Large Volume of CAVA Group Call Options (NYSE:CAVA)

CAVA Group, Inc. (NYSE:CAVA) was the recipient of some unusual options trading activity on Friday. Stock traders purchased 17,175 call options on the stock. This represents an increase of approximately 105% compared to the average volume of 8,375 call options.

CAVA Group Trading Up 10.5 %

Shares of CAVA Group stock opened at $69.16 on Friday. CAVA Group has a one year low of $29.05 and a one year high of $71.60. The company has a 50-day simple moving average of $62.11 and a two-hundred day simple moving average of $47.57.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Monday, February 26th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. CAVA Group had a net margin of 1.82% and a return on equity of 4.28%. The firm had revenue of $175.50 million for the quarter, compared to the consensus estimate of $240.03 million. The business’s revenue for the quarter was up 52.6% on a year-over-year basis. As a group, sell-side analysts anticipate that CAVA Group will post 0.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CAVA shares. Morgan Stanley lifted their price objective on shares of CAVA Group from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, April 12th. Barclays began 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. Robert W. Baird boosted their target price on shares of CAVA Group from $54.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Wedbush boosted their target price on shares of CAVA Group from $65.00 to $74.00 and gave the company an “outperform” rating in a research note on Tuesday, April 16th. Finally, Citigroup boosted their target price on shares of CAVA Group from $49.00 to $60.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.42.

Insider Activity

In related news, Director International S.C.A. Artal sold 2,000,000 shares of the business’s stock in a transaction 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 sale, the director now owns 26,507,990 shares in the company, valued at $1,756,154,337.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Ronald M. Shaich sold 1,500,000 shares of the business’s stock in a transaction on 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 sale, the insider now owns 4,457,634 shares in the company, valued at $254,976,664.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director International S.C.A. Artal sold 2,000,000 shares of the business’s stock in a transaction 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 completion of the sale, the director now owns 26,507,990 shares in the company, valued at approximately $1,756,154,337.50. The disclosure for this sale can be found here. Insiders have sold a total of 3,547,239 shares of company stock worth $221,525,951 over the last quarter.

Institutional Investors Weigh In On CAVA Group

A number of large investors have recently bought and sold shares of CAVA. Headlands Technologies LLC purchased a new stake in CAVA Group in the third quarter valued at approximately $26,000. Montag A & Associates Inc. purchased a new stake in CAVA Group in the 4th quarter worth approximately $26,000. PNC Financial Services Group Inc. boosted its position in CAVA Group by 190.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 870 shares of the company’s stock worth $27,000 after purchasing an additional 570 shares in the last quarter. Clearstead Advisors LLC purchased a new stake in CAVA Group in the 3rd quarter worth approximately $31,000. Finally, CWM LLC boosted its position in CAVA Group by 101.2% in the 1st quarter. CWM LLC now owns 505 shares of the company’s stock worth $35,000 after purchasing an additional 254 shares in the last quarter. Hedge funds and other institutional investors own 73.15% of the company’s stock.

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.