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

Tidal Investments LLC cut its stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 85.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,181 shares of the company's stock after selling 99,729 shares during the quarter. Tidal Investments LLC's holdings in CAVA Group were worth $2,128,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CAVA. Nemes Rush Group LLC purchased a new position in CAVA Group in the second quarter worth approximately $28,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of CAVA Group during the 2nd quarter worth $36,000. Headlands Technologies LLC acquired a new stake in shares of CAVA Group during the 2nd quarter worth about $37,000. GAMMA Investing LLC lifted its position in CAVA Group by 68.3% in the third quarter. GAMMA Investing LLC now owns 308 shares of the company's stock valued at $38,000 after buying an additional 125 shares during the last quarter. Finally, Sunbelt Securities Inc. purchased a new position in CAVA Group during the third quarter worth about $50,000. Hedge funds and other institutional investors own 73.15% of the company's stock.

CAVA Group Stock Performance

NYSE CAVA traded down $3.42 during trading on Tuesday, reaching $123.37. 1,918,220 shares of the company's stock were exchanged, compared to its average volume of 2,791,970. The company has a 50 day moving average price of $137.68 and a two-hundred day moving average price of $113.61. The stock has a market cap of $14.14 billion, a P/E ratio of 269.20 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.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.04. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The firm had revenue of $243.82 million during the quarter, compared to analysts' expectations of $233.05 million. During the same quarter in the previous year, the business earned $0.06 earnings per share. The firm's revenue was up 38.9% compared to the same quarter last year. Research analysts forecast that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CAVA has been the topic of several recent analyst reports. UBS Group started coverage on shares of CAVA Group in a report on Friday, September 27th. They issued a "neutral" rating and a $135.00 price objective on the stock. Argus lifted their price objective on CAVA Group from $104.00 to $128.00 and gave the company a "buy" rating in a research note on Wednesday, September 11th. Sanford C. Bernstein initiated coverage on CAVA Group in a research note on Wednesday, November 20th. They set a "market perform" rating and a $145.00 target price on the stock. Robert W. Baird lifted their target price on CAVA Group from $125.00 to $148.00 and gave the company an "outperform" rating in a research report on Monday, November 4th. Finally, TD Cowen raised their price objective on shares of CAVA Group from $130.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $143.80.

Insiders Place Their Bets

In other CAVA Group news, Director Ronald M. Shaich sold 622,549 shares of CAVA Group stock in a transaction on Monday, December 9th. The shares were sold at an average price of $149.40, for a total value of $93,008,820.60. Following the transaction, the director now directly owns 6,307 shares in the company, valued at approximately $942,265.80. The trade was a 99.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Karen Kochevar sold 15,000 shares of the company's stock in a transaction dated Tuesday, November 19th. The shares were 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 directly owns 1,307 shares of the company's stock, valued at $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. Over the last 90 days, insiders have sold 652,549 shares of company stock valued at $97,242,271. 12.10% of the stock is currently owned by insiders.

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.