Landscape Capital Management L.L.C. Makes New $2.87 Million Investment in CAVA Group, Inc. $CAVA

Key Points

• Landscape Capital Management opened a new position in CAVA Group during the fourth quarter, buying 48,865 shares valued at about $2.87 million.
• CAVA reported strong quarterly results, with earnings of $0.20 per share versus $0.17 expected and revenue of $438.27 million, up 32.1% year over year.
• Wall Street remains constructive on the stock, with a consensus “Moderate Buy” rating and average price target of $93.37, while insiders have recently sold shares tied to tax withholding.

Landscape Capital Management L.L.C. bought a new position in CAVA Group, Inc. (NYSE:CAVA - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 48,865 shares of the company's stock, valued at approximately $2,868,000.

A number of other large investors have also recently bought and sold shares of the business. DMC Group LLC lifted its holdings in CAVA Group by 3.7% in the fourth quarter. DMC Group LLC now owns 4,426 shares of the company's stock worth $260,000 after acquiring an additional 157 shares during the last quarter. Bridgewater Associates LP lifted its holdings in CAVA Group by 2.4% in the fourth quarter. Bridgewater Associates LP now owns 6,827 shares of the company's stock worth $401,000 after acquiring an additional 163 shares during the last quarter. Western Pacific Wealth Management LP lifted its holdings in CAVA Group by 32.5% in the fourth quarter. Western Pacific Wealth Management LP now owns 729 shares of the company's stock worth $43,000 after acquiring an additional 179 shares during the last quarter. Allworth Financial LP lifted its holdings in CAVA Group by 57.4% in the fourth quarter. Allworth Financial LP now owns 650 shares of the company's stock worth $38,000 after acquiring an additional 237 shares during the last quarter. Finally, Clearstead Advisors LLC lifted its holdings in CAVA Group by 18.2% in the fourth quarter. Clearstead Advisors LLC now owns 1,566 shares of the company's stock worth $92,000 after acquiring an additional 241 shares during the last quarter. Institutional investors own 73.15% of the company's stock.

CAVA Group Price Performance

NYSE CAVA opened at $91.01 on Monday. CAVA Group, Inc. has a 12 month low of $43.41 and a 12 month high of $98.79. The firm has a market capitalization of $10.60 billion, a PE ratio of 175.02, a P/E/G ratio of 6.24 and a beta of 1.70. The company's 50 day simple moving average is $83.51 and its 200 day simple moving average is $73.07.

CAVA Group (NYSE:CAVA - Get Free Report) last posted its quarterly earnings data on Tuesday, May 19th. The company reported $0.20 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.03. CAVA Group had a net margin of 4.79% and a return on equity of 7.92%. The business had revenue of $438.27 million for the quarter, compared to analyst estimates of $360.89 million. During the same quarter last year, the business earned $0.22 earnings per share. The business's revenue for the quarter was up 32.1% on a year-over-year basis. Sell-side analysts anticipate that CAVA Group, Inc. will post 0.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CAVA shares. Robert W. Baird raised their target price on shares of CAVA Group from $88.00 to $98.00 and gave the stock an "outperform" rating in a report on Wednesday, May 20th. Mizuho raised their target price on shares of CAVA Group from $72.00 to $80.00 and gave the stock a "neutral" rating in a report on Thursday, April 2nd. Wolfe Research began coverage on shares of CAVA Group in a research note on Monday, March 9th. They issued an "outperform" rating and a $93.00 price target on the stock. Citigroup raised their price target on shares of CAVA Group from $75.00 to $92.00 and gave the company a "neutral" rating in a research note on Monday, May 4th. Finally, DA Davidson raised their price target on shares of CAVA Group from $80.00 to $84.00 and gave the company a "neutral" rating in a research note on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, CAVA Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $93.37.

Insider Activity at CAVA Group

In related news, insider Theodoros Xenohristos sold 9,044 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $79.75, for a total transaction of $721,259.00. Following the transaction, the insider owned 327,882 shares in the company, valued at $26,148,589.50. This trade represents a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kelly Costanza sold 10,010 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $79.87, for a total transaction of $799,498.70. Following the transaction, the insider owned 113,850 shares in the company, valued at $9,093,199.50. This represents a 8.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 24,235 shares of company stock worth $1,920,420 over the last quarter. 6.70% of the stock is currently owned by company insiders.

CAVA Group Profile

CAVA Group, Inc NYSE: CAVA is a leading fast-casual restaurant company specializing in Mediterranean-inspired cuisine. Operating under the CAVA brand, the company offers customizable bowls, pitas and salads built around a variety of proteins, grains, fresh vegetables and house-made spreads. With a focus on high-quality ingredients and made-to-order preparation, CAVA aims to deliver a casual yet elevated dining experience for dine-in, takeout and catering customers.

Founded in 2011 in the Washington, DC metro area by Ike Grigoropoulos, Dimitri Katsanis and Brett Schulman, CAVA has pursued an aggressive growth strategy that included the 2018 acquisition of Zoe's Kitchen.

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