PNC Financial Services Group Inc. Acquires 289 Shares of CAVA Group, Inc. (NYSE:CAVA)

PNC Financial Services Group Inc. grew its holdings in shares of CAVA Group, Inc. (NYSE:CAVA) by 13.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,443 shares of the company’s stock after buying an additional 289 shares during the period. PNC Financial Services Group Inc.’s holdings in CAVA Group were worth $276,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Arcadia Investment Management Corp MI bought a new stake in shares of CAVA Group during the 4th quarter valued at $25,000. Allworth Financial LP boosted its stake in CAVA Group by 369.2% in the 4th quarter. Allworth Financial LP now owns 244 shares of the company’s stock worth $30,000 after purchasing an additional 192 shares in the last quarter. Golden State Wealth Management LLC bought a new position in CAVA Group in the 4th quarter worth about $47,000. GAMMA Investing LLC lifted its stake in CAVA Group by 37.0% during the 4th quarter. GAMMA Investing LLC now owns 422 shares of the company’s stock valued at $48,000 after acquiring an additional 114 shares during the period. Finally, R Squared Ltd bought a new position in CAVA Group during the 4th quarter valued at about $49,000. Institutional investors own 73.15% of the company’s stock.

CAVA Group Stock Down 1.3 %

CAVA stock opened at $83.59 on Friday. The firm has a market cap of $9.66 billion, a price-to-earnings ratio of 181.71 and a beta of 3.58. CAVA Group, Inc. has a twelve month low of $58.22 and a twelve month high of $172.43. The business’s fifty day simple moving average is $110.68 and its two-hundred day simple moving average is $122.96.

CAVA Group (NYSE:CAVA) last posted its earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). CAVA Group had a net margin of 5.88% and a return on equity of 9.10%. The company had revenue of $227.40 million during the quarter, compared to analysts’ expectations of $223.34 million. Research analysts expect that CAVA Group, Inc. will post 0.5 EPS for the current year.

Insider Buying and Selling

In related news, CEO Brett Schulman sold 2,936 shares of CAVA Group stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $365,209.04. Following the completion of the transaction, the chief executive officer now directly owns 773,433 shares in the company, valued at approximately $96,207,330.87. This trade represents a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Adam David Phillips sold 615 shares of CAVA Group stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $124.39, for a total value of $76,499.85. Following the transaction, the chief accounting officer now owns 10,884 shares of the company’s stock, valued at approximately $1,353,860.76. This represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,235 shares of company stock valued at $3,514,101 over the last quarter. 12.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. TD Securities lowered their target price on shares of CAVA Group from $150.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. UBS Group lowered their target price on shares of CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Loop Capital lowered their target price on shares of CAVA Group from $147.00 to $100.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Barclays reduced their price target on shares of CAVA Group from $127.00 to $104.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Finally, Wedbush reissued an “outperform” rating and issued a $150.00 target price on shares of CAVA Group in a report on Wednesday, February 26th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, CAVA Group currently has an average rating of “Moderate Buy” and a consensus price target of $131.47.

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.