Total Clarity Wealth Management Inc. Has $424,000 Stock Position in CAVA Group, Inc. (NYSE:CAVA)

Total Clarity Wealth Management Inc. cut its stake in shares of CAVA Group, Inc. (NYSE:CAVA) by 5.0% in the 4th quarter, HoldingsChannel reports. The fund owned 3,763 shares of the company’s stock after selling 199 shares during the quarter. Total Clarity Wealth Management Inc.’s holdings in CAVA Group were worth $424,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in shares of CAVA Group by 68.3% during the third quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock worth $38,000 after buying an additional 125 shares in the last quarter. R Squared Ltd bought a new stake in shares of CAVA Group in the fourth quarter valued at approximately $49,000. Sunbelt Securities Inc. bought a new position in CAVA Group during the 3rd quarter worth $50,000. Burkett Financial Services LLC bought a new stake in CAVA Group during the fourth quarter worth about $56,000. Finally, Geneos Wealth Management Inc. bought a new position in CAVA Group in the 4th quarter valued at about $63,000. 73.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Ronald M. Shaich sold 622,549 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $149.40, for a total transaction of $93,008,820.60. Following the completion of the sale, the director now owns 6,307 shares in the company, valued at approximately $942,265.80. This trade represents a 99.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Karen Kochevar sold 15,000 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $140.00, for a total value of $2,100,000.00. Following the transaction, the director now directly owns 1,307 shares of the company’s stock, valued at approximately $182,980. This trade represents a 91.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 681,784 shares of company stock worth $100,756,372 over the last quarter. Insiders own 12.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CAVA. Loop Capital lifted their price target on CAVA Group from $122.00 to $147.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Piper Sandler increased their target price on CAVA Group from $100.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. Citigroup boosted their price target on CAVA Group from $140.00 to $163.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. William Blair reiterated an “outperform” rating on shares of CAVA Group in a report on Wednesday, November 13th. Finally, Barclays reduced their price objective on shares of CAVA Group from $142.00 to $127.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, CAVA Group has an average rating of “Moderate Buy” and a consensus target price of $142.13.

CAVA Group Stock Down 2.9 %

Shares of CAVA opened at $134.92 on Friday. CAVA Group, Inc. has a 12-month low of $46.56 and a 12-month high of $172.43. The stock has a market cap of $15.46 billion, a P/E ratio of 293.31 and a beta of 3.21. The business’s fifty day moving average is $125.06 and its 200 day moving average is $120.14.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.04. CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The business had revenue of $243.82 million for the quarter, compared to analysts’ expectations of $233.05 million. During the same quarter last year, the firm earned $0.06 EPS. The firm’s revenue for the quarter was up 38.9% compared to the same quarter last year. On average, analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current year.

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.