On October 13, CAVA Group Inc. fell 5.13% in after-hours trading, trading at $50.89/share, with Turnover of $55.06 million.
The decline largely erased gains from a recent upgrade by Melius, which on October 8 raised its rating on CAVA to buy from hold with a price target of $95, significantly above the FactSet average of $87.51 and triggering a 4.5% single-day rally. However, the stock has since pulled back over subsequent sessions, with no new company-specific news accompanying the after-hours move.
CAVA Group Inc. owns and operates a chain of Mediterranean restaurants, offering salads, dips, spreads, toppings, and dressings, and also provides online food ordering services. Founded in 2006, the company is based in Washington, District of Columbia.
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