Chipotle Mexican Grill (NYSE:CMG) Stock Price Down 1.6% Following Analyst Downgrade

Chipotle Mexican Grill, Inc. (NYSE:CMG)’s share price was down 1.6% during mid-day trading on Wednesday after TD Cowen lowered their price target on the stock from $3,600.00 to $72.00. TD Cowen currently has a buy rating on the stock. Chipotle Mexican Grill traded as low as $62.75 and last traded at $64.61. Approximately 11,170,129 shares changed hands during mid-day trading, a decline of 14% from the average daily volume of 13,049,469 shares. The stock had previously closed at $65.66.

A number of other brokerages have also recently weighed in on CMG. Robert W. Baird reiterated an “outperform” rating and set a $70.00 price target on shares of Chipotle Mexican Grill in a research note on Friday, June 21st. Wells Fargo & Company increased their price target on shares of Chipotle Mexican Grill from $65.70 to $66.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. BTIG Research increased their price target on shares of Chipotle Mexican Grill from $65.00 to $67.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Raymond James reiterated an “outperform” rating and set a $66.80 price target (up previously from $66.00) on shares of Chipotle Mexican Grill in a research note on Thursday, April 25th. Finally, Truist Financial increased their price target on shares of Chipotle Mexican Grill from $68.80 to $70.40 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Nine investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, Chipotle Mexican Grill currently has a consensus rating of “Moderate Buy” and an average price target of $64.02.

Insider Activity

In other news, CEO Brian R. Niccol sold 320,300 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $63.72, for a total value of $20,409,003.52. Following the completion of the transaction, the chief executive officer now owns 1,133,450 shares in the company, valued at approximately $72,221,620.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Chipotle Mexican Grill news, CEO Brian R. Niccol sold 320,300 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $63.72, for a total transaction of $20,409,003.52. Following the completion of the transaction, the chief executive officer now directly owns 1,133,450 shares in the company, valued at approximately $72,221,620.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Scott Boatwright sold 55,000 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $63.80, for a total transaction of $3,509,176.00. Following the transaction, the chief operating officer now owns 120,600 shares of the company’s stock, valued at $7,694,665.92. The disclosure for this sale can be found here. Insiders sold 550,750 shares of company stock worth $35,023,769 in the last 90 days. 1.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

Several hedge funds have recently added to or reduced their stakes in the business. Railway Pension Investments Ltd purchased a new position in Chipotle Mexican Grill during the 1st quarter valued at about $1,163,000. Westwood Holdings Group Inc. boosted its stake in shares of Chipotle Mexican Grill by 1.1% during the 1st quarter. Westwood Holdings Group Inc. now owns 13,490 shares of the restaurant operator’s stock worth $39,212,000 after purchasing an additional 149 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Chipotle Mexican Grill by 6.1% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 8,082 shares of the restaurant operator’s stock worth $23,864,000 after purchasing an additional 464 shares during the last quarter. Alexander Labrunerie & CO. Inc. acquired a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth about $1,427,000. Finally, Cetera Advisors LLC boosted its stake in shares of Chipotle Mexican Grill by 166.4% during the 1st quarter. Cetera Advisors LLC now owns 1,055 shares of the restaurant operator’s stock worth $3,067,000 after purchasing an additional 659 shares during the last quarter. 91.31% of the stock is currently owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Trading Down 98.0 %

The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 1.41, a PEG ratio of 2.61 and a beta of 1.25. The company’s 50 day simple moving average is $127.42 and its 200-day simple moving average is $78.06.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Wednesday, April 24th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.04. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 43.74%. The company had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Sell-side analysts anticipate that Chipotle Mexican Grill, Inc. will post 55.31 EPS for the current year.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It sells food and beverages through offering burritos, burrito bowls, quesadillas, tacos, and salads. The company also provides delivery and related services its app and website. It has operations in the United States, Canada, France, Germany, and the United Kingdom.