CAVA Group (NYSE:CAVA) Shares Gap Down to $54.18

CAVA Group, Inc. (NYSE:CAVA - Get Free Report)'s share price gapped down prior to trading on Wednesday . The stock had previously closed at $54.18, but opened at $50.73. CAVA Group shares last traded at $50.40, with a volume of 699,417 shares.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CAVA shares. William Blair reissued an "outperform" rating on shares of CAVA Group in a research report on Wednesday, November 8th. TD Cowen assumed coverage on shares of CAVA Group in a research report on Wednesday, December 13th. They issued an "outperform" rating and a $46.00 target price on the stock. Robert W. Baird raised their price target on shares of CAVA Group from $54.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday, February 15th. Argus assumed coverage on shares of CAVA Group in a report on Monday, January 29th. They set a "hold" rating for the company. Finally, Wedbush upgraded shares of CAVA Group from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $35.00 to $48.00 in a report on Thursday, December 21st. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $48.60.

CAVA Group Stock Down 9.3 %

The company's fifty day simple moving average is $45.99 and its 200-day simple moving average is $39.72.

Institutional Investors Weigh In On CAVA Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Artal Group S.A. acquired a new stake in shares of CAVA Group in the 2nd quarter valued at $1,310,727,000. Revolution Growth Management Company Inc. acquired a new stake in shares of CAVA Group in the 2nd quarter valued at $265,169,000. Capital Research Global Investors boosted its stake in shares of CAVA Group by 249.5% in the 4th quarter. Capital Research Global Investors now owns 4,369,281 shares of the company's stock valued at $187,792,000 after purchasing an additional 3,119,281 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in shares of CAVA Group by 79.5% in the 4th quarter. 1832 Asset Management L.P. now owns 2,248,400 shares of the company's stock valued at $96,636,000 after purchasing an additional 995,800 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of CAVA Group by 7.2% in the 4th quarter. Vanguard Group Inc. now owns 1,566,196 shares of the company's stock valued at $67,315,000 after purchasing an additional 105,372 shares in the last quarter. Institutional investors own 61.83% of the company's stock.

CAVA Group Company Profile

CAVA Group, Inc owns and operates a chain of Mediterranean restaurants. The company offers salads, dips, spreads, toppings, and dressings. It sells its products through whole food markets and grocery stores. The company also provides online food ordering services. Cava Group, Inc was founded in 2006 and is based in Washington, District of Columbia.

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