Tidal Investments LLC Lowers Position in CAVA Group, Inc. (NYSE:CAVA)

Tidal Investments LLC decreased its stake in CAVA Group, Inc. (NYSE:CAVA) by 85.3% in the third quarter, HoldingsChannel.com reports. 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 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC increased its holdings in CAVA Group by 0.9% in the 3rd quarter. FMR LLC now owns 3,485,033 shares of the company’s stock worth $431,621,000 after acquiring an additional 29,668 shares in the last quarter. Two Sigma Advisers LP boosted its position in shares of CAVA Group by 17.0% in the third quarter. Two Sigma Advisers LP now owns 2,210,900 shares of the company’s stock worth $273,820,000 after purchasing an additional 321,800 shares during the period. State Street Corp increased its stake in shares of CAVA Group by 33.3% in the third quarter. State Street Corp now owns 1,267,333 shares of the company’s stock worth $156,959,000 after purchasing an additional 316,514 shares in the last quarter. Geode Capital Management LLC raised its position in shares of CAVA Group by 121.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,222,834 shares of the company’s stock valued at $151,492,000 after purchasing an additional 669,599 shares during the period. Finally, Federated Hermes Inc. lifted its stake in shares of CAVA Group by 9.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,060,029 shares of the company’s stock valued at $98,318,000 after buying an additional 93,635 shares in the last quarter. Institutional investors own 73.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Sanford C. Bernstein started coverage on CAVA Group in a report on Wednesday, November 20th. They set a “market perform” rating and a $145.00 price target on the stock. William Blair reissued an “outperform” rating on shares of CAVA Group in a report on Wednesday, November 13th. Jefferies Financial Group increased their price objective on shares of CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Piper Sandler boosted their target price on shares of CAVA Group from $100.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, November 15th. Finally, Wedbush upped their target price on shares of CAVA Group from $155.00 to $190.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, CAVA Group has an average rating of “Moderate Buy” and a consensus target price of $143.80.

CAVA Group Trading Up 2.2 %

Shares of NYSE:CAVA opened at $126.80 on Tuesday. The company has a market cap of $14.53 billion, a price-to-earnings ratio of 275.65 and a beta of 2.93. CAVA Group, Inc. has a 12 month low of $39.05 and a 12 month high of $172.43. The company has a 50-day moving average price of $137.67 and a 200 day moving average price of $113.38.

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

Insider Buying and Selling

In other news, Director Ronald M. Shaich sold 622,549 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $149.40, for a total transaction of $93,008,820.60. Following the transaction, the director now owns 6,307 shares of the company’s stock, valued at approximately $942,265.80. This represents a 99.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Karen Kochevar sold 15,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $142.23, for a total value 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. The trade was a 91.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 652,549 shares of company stock worth $97,242,271 over the last three months. 12.10% of the stock is owned by insiders.

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.