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

Landscape Capital Management L.L.C. purchased a new position in CAVA Group, Inc. (NYSE:CAVA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 48,865 shares of the company’s stock, valued at approximately $2,868,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC acquired a new position in CAVA Group in the fourth quarter worth approximately $25,000. Harbor Investment Advisory LLC grew its position in CAVA Group by 347.8% in the fourth quarter. Harbor Investment Advisory LLC now owns 515 shares of the company’s stock worth $30,000 after buying an additional 400 shares during the last quarter. TD Private Client Wealth LLC grew its position in CAVA Group by 118.2% in the fourth quarter. TD Private Client Wealth LLC now owns 600 shares of the company’s stock worth $35,000 after buying an additional 325 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in CAVA Group in the third quarter worth approximately $36,000. Finally, Allworth Financial LP grew its position 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 buying an additional 237 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CAVA. Stifel Nicolaus lifted their price target on shares of CAVA Group from $90.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, May 20th. Morgan Stanley lifted their price target on shares of CAVA Group from $85.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 20th. BNP Paribas Exane assumed coverage on shares of CAVA Group in a research note on Monday, March 30th. They issued a “neutral” rating and a $91.00 price objective for the company. KeyCorp raised their price objective on shares of CAVA Group from $95.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. Finally, Mizuho raised their price objective on shares of CAVA Group from $72.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, CAVA Group has an average rating of “Moderate Buy” and an average price target of $93.37.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, insider Theodoros Xenohristos sold 9,044 shares of CAVA Group stock in a transaction 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 completion of the sale, the insider owned 327,882 shares of the company’s stock, valued at $26,148,589.50. This trade represents a 2.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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 CAVA Group stock in a transaction 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 sale, the insider directly owned 113,850 shares of the company’s stock, valued at $9,093,199.50. This trade 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 sold 24,235 shares of company stock valued at $1,920,420 in the last quarter. Company insiders own 6.70% of the company’s stock.

CAVA Group Stock Performance

CAVA Group stock opened at $91.01 on Monday. The company has a 50 day moving average price of $83.51 and a 200 day moving average price of $73.07. CAVA Group, Inc. has a 52 week low of $43.41 and a 52 week high of $98.79. The firm has a market capitalization of $10.60 billion, a price-to-earnings ratio of 175.02, a P/E/G ratio of 6.24 and a beta of 1.70.

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

About CAVA Group

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.