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

CAVA Group, Inc. (NYSE:CAVA - Get Free Report) was the recipient of unusually large options trading on Tuesday. Investors purchased 11,481 call options on the stock. This is an increase of 19% compared to the typical volume of 9,653 call options.

CAVA Group Price Performance

Shares of NYSE:CAVA traded down $4.66 during trading on Tuesday, hitting $60.28. 4,511,364 shares of the stock were exchanged, compared to its average volume of 2,240,382. CAVA Group has a 1-year low of $29.05 and a 1-year high of $71.60. The company's fifty day simple moving average is $59.03 and its 200-day simple moving average is $44.61.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its quarterly earnings data on Monday, February 26th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. CAVA Group had a return on equity of 4.28% and a net margin of 1.82%. The company had revenue of $175.50 million for the quarter, compared to analyst estimates of $240.03 million. The company's revenue was up 52.6% compared to the same quarter last year. Sell-side analysts predict that CAVA Group will post 0.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

CAVA has been the topic of a number of recent analyst reports. Argus initiated coverage on CAVA Group in a research note on Monday, January 29th. They issued a "hold" rating on the stock. Robert W. Baird raised their price objective on CAVA Group from $54.00 to $62.00 and gave the company an "outperform" rating in a research note on Thursday, February 15th. William Blair reissued an "outperform" rating on shares of CAVA Group in a research note on Tuesday, February 27th. JPMorgan Chase & Co. raised their price objective on CAVA Group from $50.00 to $64.00 and gave the company an "overweight" rating in a research note on Tuesday, March 19th. Finally, Morgan Stanley raised their target price on CAVA Group from $49.00 to $62.00 and gave the company an "overweight" rating in a report on Wednesday, February 28th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $56.50.

Insider Buying and Selling

In related news, Director Theodoros Xenohristos sold 47,239 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $68.29, for a total value of $3,225,951.31. Following the completion of the sale, the director now directly owns 526,521 shares of the company's stock, valued at approximately $35,956,119.09. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Theodoros Xenohristos sold 47,239 shares of the firm'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 sale, the director now directly owns 526,521 shares of the company's stock, valued at approximately $35,956,119.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Ronald M. Shaich sold 1,500,000 shares of the firm's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $57.20, for a total value of $85,800,000.00. Following the sale, the insider now directly owns 4,457,634 shares of the company's stock, valued at $254,976,664.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,547,239 shares of company stock valued at $221,525,951.

Institutional Trading of CAVA Group

Several institutional investors have recently bought and sold shares of the stock. Renaissance Capital LLC boosted its stake in CAVA Group by 197.1% in the 1st quarter. Renaissance Capital LLC now owns 31,731 shares of the company's stock valued at $2,223,000 after buying an additional 21,050 shares in the last quarter. CWM LLC raised its position in CAVA Group by 101.2% in the 1st quarter. CWM LLC now owns 505 shares of the company's stock valued at $35,000 after purchasing an additional 254 shares during the last quarter. Vanguard Group Inc. raised its position in CAVA Group by 7.2% in the 4th quarter. Vanguard Group Inc. now owns 1,566,196 shares of the company's stock valued at $67,315,000 after purchasing an additional 105,372 shares during the last quarter. Wellington Management Group LLP bought a new position in CAVA Group in the 4th quarter valued at $753,000. Finally, Goldman Sachs Group Inc. raised its position in CAVA Group by 222.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 31,292 shares of the company's stock valued at $1,345,000 after purchasing an additional 56,752 shares during the last quarter. Institutional investors and hedge funds 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.