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

Total Clarity Wealth Management Inc. lowered its position in CAVA Group, Inc. (NYSE:CAVA) by 5.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other news, Director Karen Kochevar sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $140.00, for a total transaction of $2,100,000.00. Following the sale, the director now owns 1,307 shares in the company, valued at $182,980. This represents a 91.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Brett Schulman sold 20,564 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $119.18, for a total transaction of $2,450,817.52. Following the completion of the transaction, the chief executive officer now directly owns 776,369 shares of the company’s stock, valued at $92,527,657.42. This represents a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 681,784 shares of company stock worth $100,756,372. Company insiders own 12.10% of the company’s stock.

CAVA Group Trading Down 2.9 %

NYSE CAVA opened at $134.92 on Friday. The company has a market capitalization of $15.46 billion, a PE ratio of 293.31 and a beta of 3.21. The stock has a 50-day simple moving average of $125.06 and a 200 day simple moving average of $120.14. CAVA Group, Inc. has a 12 month low of $46.56 and a 12 month high of $172.43.

CAVA Group (NYSE:CAVA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 EPS 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 business had revenue of $243.82 million for the quarter, compared to the consensus estimate of $233.05 million. During the same quarter last year, the business posted $0.06 EPS. The firm’s revenue was up 38.9% compared to the same quarter last year. As a group, sell-side analysts predict that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. UBS Group reduced their target price on CAVA Group from $160.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Citigroup lifted their price objective on CAVA Group from $140.00 to $163.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Morgan Stanley increased their target price on CAVA Group from $123.00 to $135.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. TD Cowen lifted their target price 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. Finally, Sanford C. Bernstein started coverage on shares of CAVA Group in a research report on Wednesday, November 20th. They set a “market perform” rating and a $145.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, CAVA Group presently has an average rating of “Moderate Buy” and an average target price of $142.13.

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.