Landscape Capital Management L.L.C. Sells 4,781 Shares of CAVA Group, Inc. $CAVA

Key Points

• Landscape Capital Management L.L.C. has reduced its holdings in CAVA Group, Inc. by 29.0%, selling 4,781 shares to end the quarter with a total holding worth $1.01 million.
• Multiple institutional investors have increased their stakes in CAVA Group, with Vanguard Group Inc. boosting its position by 13.2%, now owning over 9 million shares valued at $783 million.
• Equities analysts are cautious, with one firm downgrading CAVA Group from a "hold" to a "sell", while the consensus rating remains a "Moderate Buy" with a target price of $99.47.

Landscape Capital Management L.L.C. lowered its holdings in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 29.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,711 shares of the company's stock after selling 4,781 shares during the period. Landscape Capital Management L.L.C.'s holdings in CAVA Group were worth $1,012,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CAVA. Dimensional Fund Advisors LP grew its holdings in shares of CAVA Group by 43.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 239,561 shares of the company's stock valued at $27,019,000 after purchasing an additional 72,288 shares during the last quarter. Integrated Wealth Concepts LLC boosted its position in shares of CAVA Group by 4.5% during the fourth quarter. Integrated Wealth Concepts LLC now owns 6,678 shares of the company's stock worth $753,000 after buying an additional 288 shares during the period. Kovitz Investment Group Partners LLC boosted its position in shares of CAVA Group by 7.0% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,435 shares of the company's stock worth $275,000 after buying an additional 159 shares during the period. The Manufacturers Life Insurance Company raised its holdings in CAVA Group by 4.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 23,151 shares of the company's stock worth $2,611,000 after purchasing an additional 989 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in CAVA Group by 25.0% during the fourth quarter. Northern Trust Corp now owns 415,493 shares of the company's stock worth $46,868,000 after purchasing an additional 83,040 shares in the last quarter. Institutional investors and hedge funds own 73.15% of the company's stock.

Analysts Set New Price Targets

CAVA has been the topic of several recent research reports. Sanford C. Bernstein set a $74.00 price target on shares of CAVA Group in a research report on Wednesday, August 13th. Bank of America decreased their price objective on shares of CAVA Group from $121.00 to $100.00 and set a "buy" rating for the company in a research note on Wednesday, August 13th. Citigroup cut their target price on shares of CAVA Group from $102.00 to $88.00 and set a "neutral" rating for the company in a research report on Wednesday, August 13th. JPMorgan Chase & Co. cut their target price on shares of CAVA Group from $115.00 to $95.00 and set an "overweight" rating for the company in a research report on Wednesday, June 25th. Finally, Robert W. Baird set a $95.00 price target on shares of CAVA Group in a research note on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $96.41.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, CFO Tricia K. Tolivar sold 4,845 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $364,150.20. Following the transaction, the chief financial officer owned 236,345 shares of the company's stock, valued at approximately $17,763,690.20. This represents a 2.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brett Schulman sold 31,856 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $75.16, for a total value of $2,394,296.96. Following the transaction, the chief executive officer directly owned 792,318 shares in the company, valued at approximately $59,550,620.88. This represents a 3.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,360 shares of company stock worth $3,634,738 over the last 90 days. Company insiders own 6.80% of the company's stock.

CAVA Group Stock Performance

Shares of CAVA stock traded up $0.10 during trading hours on Thursday, hitting $66.01. The company had a trading volume of 2,597,907 shares, compared to its average volume of 6,307,583. CAVA Group, Inc. has a 12 month low of $65.03 and a 12 month high of $172.43. The firm has a market capitalization of $7.65 billion, a price-to-earnings ratio of 55.47, a PEG ratio of 3.29 and a beta of 2.61. The firm's fifty day moving average is $80.53 and its 200 day moving average is $84.74.

CAVA Group (NYSE:CAVA - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. The business had revenue of $280.62 million for the quarter, compared to the consensus estimate of $285.65 million. CAVA Group had a return on equity of 9.83% and a net margin of 12.98%.CAVA Group's revenue was up 20.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.17 EPS. On average, sell-side analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current fiscal year.

CAVA Group Company 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.