Tidal Investments LLC Sells 99,729 Shares of CAVA Group, Inc. (NYSE:CAVA)

Tidal Investments LLC lowered its stake in CAVA Group, Inc. (NYSE:CAVA) by 85.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,181 shares of the company’s stock after selling 99,729 shares during the period. Tidal Investments LLC’s holdings in CAVA Group were worth $2,128,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of CAVA Group in the 3rd quarter worth about $286,000. Sanctuary Advisors LLC lifted its holdings in CAVA Group by 12.9% in the third quarter. Sanctuary Advisors LLC now owns 18,738 shares of the company’s stock worth $2,321,000 after buying an additional 2,147 shares during the period. Virtu Financial LLC boosted its position in CAVA Group by 306.9% during the 3rd quarter. Virtu Financial LLC now owns 40,088 shares of the company’s stock valued at $4,965,000 after acquiring an additional 30,235 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in shares of CAVA Group during the 3rd quarter worth approximately $50,000. Finally, Geode Capital Management LLC raised its position in shares of CAVA Group by 121.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock worth $151,492,000 after acquiring an additional 669,599 shares in the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

CAVA Group Price Performance

CAVA stock opened at $126.80 on Tuesday. The stock has a market capitalization of $14.53 billion, a P/E ratio of 275.65 and a beta of 2.93. CAVA Group, Inc. has a 1-year low of $39.05 and a 1-year high of $172.43. The business has a fifty day moving average price of $137.67 and a 200-day moving average price of $113.38.

CAVA Group (NYSE:CAVA) last issued its earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The business had revenue of $243.82 million during the quarter, compared to analyst estimates of $233.05 million. During the same quarter in the previous year, the firm earned $0.06 EPS. CAVA Group’s revenue was up 38.9% on a year-over-year basis. As a group, analysts anticipate that CAVA Group, Inc. will post 0.5 earnings per share for the current year.

Insider Activity at CAVA Group

In related news, Director Karen Kochevar sold 15,000 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $142.23, for a total transaction of $2,133,450.00. Following the completion of the sale, the director now owns 1,307 shares in the company, valued at approximately $185,894.61. This represents a 91.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronald M. Shaich sold 622,549 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $149.40, for a total value of $93,008,820.60. Following the completion of the transaction, the director now directly owns 6,307 shares in the company, valued at $942,265.80. The trade was a 99.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 652,549 shares of company stock worth $97,242,271 over the last quarter. Company insiders own 12.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Stifel Nicolaus lifted their price target on CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Jefferies Financial Group upped their target price on shares of CAVA Group from $94.00 to $117.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. TD Cowen lifted their price target on shares of CAVA Group from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. boosted their price objective on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Finally, Loop Capital raised their target price on shares of CAVA Group from $122.00 to $147.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $143.80.

CAVA Group Profile

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.