Investors Buy High Volume of Put Options on CAVA Group (NYSE:CAVA)

CAVA Group, Inc. (NYSE:CAVA) saw unusually large options trading activity on Tuesday. Traders acquired 13,252 put options on the company. This represents an increase of 37% compared to the average daily volume of 9,642 put options.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CAVA shares. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $95.00 price target on shares of CAVA Group in a research note on Wednesday, May 20th. Piper Sandler increased their price target on shares of CAVA Group from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. Royal Bank Of Canada upped their price objective on shares of CAVA Group from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, May 20th. Guggenheim began coverage on shares of CAVA Group in a report on Thursday, March 26th. They set a “buy” rating and a $100.00 target price for the company. Finally, Argus set a $92.00 price objective on CAVA Group in a research report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, CAVA Group presently has an average rating of “Moderate Buy” and an average target price of $93.54.

Insider Activity at CAVA Group

In other news, insider Kelly Costanza sold 12,490 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $90.00, for a total transaction of $1,124,100.00. Following the transaction, the insider directly owned 98,490 shares of the company’s stock, valued at approximately $8,864,100. The trade was a 11.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Tricia K. Tolivar sold 4,969 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $89.43, for a total transaction of $444,377.67. Following the completion of the transaction, the chief financial officer owned 234,931 shares of the company’s stock, valued at $21,009,879.33. This trade represents a 2.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 91,747 shares of company stock valued at $7,970,838 in the last quarter. 6.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CAVA Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CAVA. DMC Group LLC grew its holdings in CAVA Group by 3.7% during the 4th quarter. DMC Group LLC now owns 4,426 shares of the company’s stock worth $260,000 after acquiring an additional 157 shares in the last quarter. Modern Wealth Management LLC raised its stake in shares of CAVA Group by 4.2% in the 1st quarter. Modern Wealth Management LLC now owns 3,907 shares of the company’s stock valued at $313,000 after purchasing an additional 158 shares in the last quarter. Bridgewater Associates LP lifted its position in shares of CAVA Group by 2.4% during the fourth quarter. Bridgewater Associates LP now owns 6,827 shares of the company’s stock worth $401,000 after purchasing an additional 163 shares during the last quarter. Western Pacific Wealth Management LP lifted its position in shares of CAVA Group by 32.5% during the fourth quarter. Western Pacific Wealth Management LP now owns 729 shares of the company’s stock worth $43,000 after purchasing an additional 179 shares during the last quarter. Finally, Allworth Financial LP raised its stake in CAVA Group by 57.4% during the fourth quarter. Allworth Financial LP now owns 650 shares of the company’s stock valued at $38,000 after buying an additional 237 shares in the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Price Performance

Shares of CAVA traded up $0.76 during trading hours on Tuesday, hitting $64.27. The stock had a trading volume of 1,908,539 shares, compared to its average volume of 3,326,091. CAVA Group has a 12 month low of $43.41 and a 12 month high of $98.79. The firm has a market capitalization of $7.49 billion, a PE ratio of 123.74, a PEG ratio of 4.72 and a beta of 1.69. The stock has a fifty day moving average price of $77.65 and a 200 day moving average price of $77.21.

CAVA Group (NYSE:CAVA) last posted its earnings results on Tuesday, May 19th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. CAVA Group had a return on equity of 7.92% and a net margin of 4.79%.The company had revenue of $438.27 million for the quarter, compared to the consensus estimate of $360.89 million. During the same quarter in the prior year, the company earned $0.22 earnings per share. CAVA Group’s revenue was up 32.1% on a year-over-year basis. As a group, analysts anticipate that CAVA Group will post 0.55 EPS for the current fiscal year.

CAVA Group Company Profile

CAVA Group, Inc (NYSE: CAVA) is a leading fast-casual restaurant company specializing in Mediterranean-inspired cuisine. Operating under the CAVA brand, the company offers customizable bowls, pitas and salads built around a variety of proteins, grains, fresh vegetables and house-made spreads. With a focus on high-quality ingredients and made-to-order preparation, CAVA aims to deliver a casual yet elevated dining experience for dine-in, takeout and catering customers.

Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe’s Kitchen.