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

CAVA Group, Inc. (NYSE:CAVA) was the recipient of some unusual options trading on Tuesday. Stock investors acquired 54,211 put options on the company. This represents an increase of approximately 98% compared to the typical daily volume of 27,333 put options.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Capital International Investors lifted its position in shares of CAVA Group by 105.4% in the 3rd quarter. Capital International Investors now owns 4,228,736 shares of the company’s stock valued at $255,451,000 after acquiring an additional 2,169,553 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in CAVA Group during the 3rd quarter valued at $114,098,000. Alliancebernstein L.P. lifted its holdings in shares of CAVA Group by 118.3% in the third quarter. Alliancebernstein L.P. now owns 2,953,688 shares of the company’s stock valued at $178,432,000 after purchasing an additional 1,600,630 shares in the last quarter. Capital Research Global Investors boosted its position in shares of CAVA Group by 28.5% in the third quarter. Capital Research Global Investors now owns 6,634,866 shares of the company’s stock worth $400,801,000 after buying an additional 1,469,758 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of CAVA Group by 114.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,394,561 shares of the company’s stock valued at $206,915,000 after buying an additional 1,277,912 shares in the last quarter. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Piper Sandler decreased their target price on CAVA Group from $100.00 to $71.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Mizuho raised shares of CAVA Group to a “hold” rating in a research report on Tuesday, October 28th. Bank of America dropped their price objective on shares of CAVA Group from $121.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, August 13th. Sanford C. Bernstein cut their target price on shares of CAVA Group from $100.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. Finally, TD Cowen reduced their target price on shares of CAVA Group from $80.00 to $67.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.75.

CAVA Group Price Performance

Shares of CAVA traded down $0.08 during midday trading on Tuesday, reaching $45.15. The stock had a trading volume of 2,534,139 shares, compared to its average volume of 3,936,615. The company has a market capitalization of $5.24 billion, a P/E ratio of 38.96, a P/E/G ratio of 2.67 and a beta of 2.48. The firm’s 50 day moving average price is $59.74 and its 200-day moving average price is $74.03. CAVA Group has a 52 week low of $44.26 and a 52 week high of $153.34.

CAVA Group (NYSE:CAVA) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). The business had revenue of $292.24 million for the quarter, compared to the consensus estimate of $292.88 million. CAVA Group had a net margin of 12.14% and a return on equity of 8.88%. The business’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same quarter last year, the business posted $0.15 EPS. On average, equities analysts forecast that CAVA Group will post 0.5 earnings per share for the current year.

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.