Total Clarity Wealth Management Inc. Makes New $341,000 Investment in CAVA Group, Inc. (NYSE:CAVA)

Total Clarity Wealth Management Inc. acquired a new stake in CAVA Group, Inc. (NYSE:CAVA) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,680 shares of the company’s stock, valued at approximately $341,000.

A number of other hedge funds also recently made changes to their positions in CAVA. Private Advisor Group LLC increased its stake in CAVA Group by 69.1% during the 1st quarter. Private Advisor Group LLC now owns 33,619 shares of the company’s stock worth $2,355,000 after buying an additional 13,739 shares during the period. CHURCHILL MANAGEMENT Corp acquired a new position in shares of CAVA Group in the first quarter worth about $3,213,000. Swiss National Bank purchased a new position in CAVA Group in the fourth quarter valued at about $1,926,000. Stephens Inc. AR purchased a new position in CAVA Group in the fourth quarter valued at about $1,014,000. Finally, Cetera Investment Advisers acquired a new stake in CAVA Group during the 1st quarter valued at approximately $2,455,000. Hedge funds and other institutional investors own 73.15% of the company’s stock.

Insider Buying and Selling at CAVA Group

In other news, Director Theodoros Xenohristos sold 98,490 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $125.77, for a total transaction of $12,387,087.30. Following the completion of the transaction, the director now owns 424,846 shares in the company, valued at $53,432,881.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Brett Schulman sold 201,504 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $125.53, for a total value of $25,294,797.12. Following the sale, the chief executive officer now directly owns 702,590 shares in the company, valued at approximately $88,196,122.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Theodoros Xenohristos sold 98,490 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $125.77, for a total value of $12,387,087.30. Following the transaction, the director now owns 424,846 shares of the company’s stock, valued at approximately $53,432,881.42. The disclosure for this sale can be found here. Over the last three months, insiders have sold 400,943 shares of company stock worth $47,062,986.

CAVA Group Stock Up 0.3 %

CAVA opened at $122.85 on Tuesday. The company’s 50-day moving average price is $97.72 and its 200 day moving average price is $83.47. CAVA Group, Inc. has a fifty-two week low of $29.05 and a fifty-two week high of $128.18. The firm has a market cap of $14.01 billion, a price-to-earnings ratio of 299.63 and a beta of 3.34.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Thursday, August 22nd. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.04. The business had revenue of $233.50 million for the quarter, compared to the consensus estimate of $219.47 million. CAVA Group had a return on equity of 7.37% and a net margin of 5.04%. The business’s revenue was up 35.1% on a year-over-year basis. During the same quarter last year, the business posted $0.21 EPS. Research analysts anticipate that CAVA Group, Inc. will post 0.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CAVA has been the topic of a number of recent analyst reports. Citigroup upped their target price on CAVA Group from $93.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Loop Capital upped their price target on shares of CAVA Group from $80.00 to $122.00 and gave the company a “hold” rating in a report on Monday, August 26th. Morgan Stanley lowered shares of CAVA Group from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $90.00 to $110.00 in a report on Thursday, August 29th. Wedbush upped their target price on shares of CAVA Group from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Finally, Piper Sandler cut shares of CAVA Group from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $63.00 to $92.00 in a research report on Thursday, May 30th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, CAVA Group currently has a consensus rating of “Moderate Buy” and an average price target of $111.58.

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.