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

CAVA Group, Inc. (NYSE:CAVA) saw some unusual options trading activity on Tuesday. Traders purchased 54,211 put options on the company. This represents an increase of approximately 98% compared to the typical volume of 27,333 put options.

Institutional Investors Weigh In On CAVA Group

Institutional investors have recently made changes to their positions in the stock. Bison Wealth LLC acquired a new position in CAVA Group in the fourth quarter valued at about $208,000. Envestnet Asset Management Inc. increased its stake in shares of CAVA Group by 343.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 48,221 shares of the company’s stock valued at $4,167,000 after acquiring an additional 37,350 shares during the last quarter. Signaturefd LLC raised its position in shares of CAVA Group by 148.9% in the 1st quarter. Signaturefd LLC now owns 784 shares of the company’s stock valued at $68,000 after acquiring an additional 469 shares during the period. Teachers Retirement System of The State of Kentucky bought a new position in CAVA Group during the 1st quarter worth approximately $2,117,000. Finally, Miller Financial Services LLC grew its holdings in CAVA Group by 38.3% during the first quarter. Miller Financial Services LLC now owns 13,090 shares of the company’s stock valued at $1,131,000 after purchasing an additional 3,623 shares during the period. 73.15% of the stock is owned by institutional investors and hedge funds.

CAVA Group Price Performance

CAVA opened at $45.07 on Wednesday. The firm has a 50 day simple moving average of $59.34 and a 200 day simple moving average of $73.67. CAVA Group has a fifty-two week low of $44.26 and a fifty-two week high of $153.34. The company has a market cap of $5.23 billion, a price-to-earnings ratio of 38.86, a price-to-earnings-growth ratio of 2.56 and a beta of 2.47.

CAVA Group (NYSE:CAVA) last released its earnings results on Tuesday, November 4th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The business had revenue of $292.24 million for the quarter, compared to analyst estimates of $292.88 million. CAVA Group had a return on equity of 8.88% and a net margin of 12.14%.CAVA Group’s revenue was up 19.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.15 EPS. As a group, analysts expect that CAVA Group will post 0.5 EPS for the current year.

Analyst Upgrades and Downgrades

CAVA has been the topic of a number of research analyst reports. KeyCorp decreased their price target on CAVA Group from $85.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Citigroup restated a “neutral” rating on shares of CAVA Group in a report on Wednesday, November 12th. The Goldman Sachs Group restated a “neutral” rating and issued a $68.00 target price on shares of CAVA Group in a research note on Wednesday, November 5th. Mizuho upgraded shares of CAVA Group to a “hold” rating in a research report on Tuesday, October 28th. Finally, Bank of America decreased their price objective on shares of CAVA Group from $121.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, August 13th. One equities 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. According to MarketBeat.com, CAVA Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.75.

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.