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. trimmed its stake in CAVA Group, Inc. (NYSE:CAVA - Free Report) by 29.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,711 shares of the company's stock after selling 4,781 shares during the quarter. Landscape Capital Management L.L.C.'s holdings in CAVA Group were worth $1,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. First Horizon Advisors Inc. increased its holdings in CAVA Group by 1,400.0% in the first quarter. First Horizon Advisors Inc. now owns 285 shares of the company's stock worth $25,000 after buying an additional 266 shares during the last quarter. Vision Financial Markets LLC bought a new position in CAVA Group during the first quarter valued at approximately $26,000. Dagco Inc. bought a new position in CAVA Group during the first quarter valued at approximately $27,000. Versant Capital Management Inc bought a new position in CAVA Group during the first quarter valued at approximately $31,000. Finally, Brooklyn Investment Group raised its position in CAVA Group by 168.0% during the first quarter. Brooklyn Investment Group now owns 402 shares of the company's stock valued at $35,000 after acquiring an additional 252 shares in the last quarter. 73.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on CAVA. Piper Sandler dropped their price target on shares of CAVA Group from $122.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 13th. Bank of America decreased their price target on shares of CAVA Group from $121.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, August 13th. UBS Group reduced their target price on shares of CAVA Group from $96.00 to $75.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 13th. Wall Street Zen downgraded shares of CAVA Group from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Finally, JPMorgan Chase & Co. reduced their price target on shares of CAVA Group from $115.00 to $95.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 25th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, CAVA Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $99.47.

CAVA Group Price Performance

Shares of CAVA traded down $2.01 during mid-day trading on Tuesday, hitting $65.54. 3,520,536 shares of the company's stock were exchanged, compared to its average volume of 3,841,158. The company has a market cap of $7.60 billion, a PE ratio of 55.08, a P/E/G ratio of 3.38 and a beta of 2.62. CAVA Group, Inc. has a 52 week low of $65.03 and a 52 week high of $172.43. The company has a 50-day simple moving average of $81.10 and a 200 day simple moving average of $85.46.

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

Insider Activity at CAVA Group

In other news, insider Jennifer Somers sold 2,861 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $75.16, for a total value of $215,032.76. Following the completion of the sale, the insider owned 137,048 shares of the company's stock, valued at approximately $10,300,527.68. This represents a 2.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brett Schulman sold 31,856 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $75.16, for a total value of $2,394,296.96. Following the completion of the sale, the chief executive officer directly owned 792,318 shares of the company's stock, valued at approximately $59,550,620.88. The trade was a 3.87% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,360 shares of company stock worth $3,634,738. 12.10% of the stock is currently owned by corporate 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.