PNC Financial Services Group Inc. Has $276,000 Stock Holdings in CAVA Group, Inc. (NYSE:CAVA)

PNC Financial Services Group Inc. grew its position in CAVA Group, Inc. (NYSE:CAVA) by 13.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,443 shares of the company’s stock after purchasing an additional 289 shares during the period. PNC Financial Services Group Inc.’s holdings in CAVA Group were worth $276,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CAVA. Arcadia Investment Management Corp MI bought a new position in CAVA Group in the fourth quarter valued at $25,000. Allworth Financial LP lifted its stake in shares of CAVA Group by 369.2% during the 4th quarter. Allworth Financial LP now owns 244 shares of the company’s stock worth $30,000 after buying an additional 192 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in CAVA Group in the 4th quarter worth about $47,000. GAMMA Investing LLC raised its stake in CAVA Group by 37.0% in the 4th quarter. GAMMA Investing LLC now owns 422 shares of the company’s stock worth $48,000 after purchasing an additional 114 shares in the last quarter. Finally, R Squared Ltd acquired a new position in shares of CAVA Group in the 4th quarter valued at approximately $49,000. 73.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Piper Sandler raised shares of CAVA Group from a “neutral” rating to an “overweight” rating and decreased their price target for the company from $142.00 to $115.00 in a report on Friday, February 28th. UBS Group lowered their price objective on shares of CAVA Group from $160.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Loop Capital reduced their price target on shares of CAVA Group from $147.00 to $100.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Barclays cut their target price 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, TD Securities lowered their price target on shares of CAVA Group from $150.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, CAVA Group currently has an average rating of “Moderate Buy” and an average price target of $131.47.

Insider Buying and Selling at CAVA Group

In other news, insider Kenneth Robert Bertram sold 678 shares of the firm’s 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 $84,336.42. Following the transaction, the insider now owns 57,312 shares in the company, valued at approximately $7,129,039.68. This trade represents a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Theodoros Xenohristos sold 851 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $119.18, for a total transaction of $101,422.18. Following the completion of the transaction, the insider now owns 358,995 shares in the company, valued at $42,785,024.10. This represents a 0.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,235 shares of company stock worth $3,514,101 over the last ninety days. Insiders own 12.10% of the company’s stock.

CAVA Group Price Performance

Shares of CAVA opened at $83.59 on Friday. The firm’s 50 day simple moving average is $110.68 and its 200 day simple moving average is $122.96. The company has a market capitalization of $9.66 billion, a P/E ratio of 181.71 and a beta of 3.58. CAVA Group, Inc. has a 1-year low of $58.22 and a 1-year high of $172.43.

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

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.