SeaCrest Wealth Management LLC Sells 169 Shares of CAVA Group, Inc. (NYSE:CAVA)

SeaCrest Wealth Management LLC cut its stake in CAVA Group, Inc. (NYSE:CAVA) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,212 shares of the company’s stock after selling 169 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in CAVA Group were worth $814,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CAVA. Headlands Technologies LLC bought a new stake in CAVA Group in the 2nd quarter valued at $37,000. State of New Jersey Common Pension Fund D acquired a new position in shares of CAVA Group in the second quarter valued at about $1,957,000. American Century Companies Inc. bought a new position in CAVA Group during the second quarter worth about $309,000. DekaBank Deutsche Girozentrale acquired a new stake in CAVA Group in the 2nd quarter worth about $1,871,000. Finally, Dimensional Fund Advisors LP boosted its holdings in CAVA Group by 0.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 39,154 shares of the company’s stock valued at $3,632,000 after purchasing an additional 184 shares during the period. Institutional investors and hedge funds own 73.15% of the company’s stock.

Insiders Place Their Bets

In other CAVA Group news, 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 in the company, valued at $185,894.61. This represents a 91.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ronald M. Shaich sold 622,549 shares of CAVA Group stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $149.40, for a total value of $93,008,820.60. Following the completion of the transaction, the director now owns 6,307 shares in the company, valued at approximately $942,265.80. This represents a 99.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 652,549 shares of company stock valued at $97,242,271 in the last quarter. Corporate insiders own 12.10% of the company’s stock.

CAVA Group Trading Up 2.6 %

Shares of NYSE:CAVA opened at $115.30 on Thursday. The company has a 50 day moving average of $129.28 and a 200 day moving average of $117.23. The stock has a market cap of $13.21 billion, a P/E ratio of 250.65 and a beta of 3.21. CAVA Group, Inc. has a 12 month low of $42.65 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.04. CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The company 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 earnings per share. The firm’s revenue was up 38.9% compared to the same quarter last year. On average, equities analysts forecast that CAVA Group, Inc. will post 0.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Sanford C. Bernstein initiated coverage on CAVA Group in a research report on Wednesday, November 20th. They set a “market perform” rating and a $145.00 target price for the company. Piper Sandler increased their price target on shares of CAVA Group from $100.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, November 15th. Loop Capital upped their target price on CAVA Group from $122.00 to $147.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. UBS Group dropped their price objective 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. Finally, Stifel Nicolaus lifted their target price on CAVA Group from $118.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $142.13.

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.