Chipotle Mexican Grill (NYSE:CMG) Stock Price Down 4.1% After Analyst Downgrade

Chipotle Mexican Grill, Inc. (NYSE:CMG)’s stock price traded down 4.1% on Thursday 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 $62.90 and last traded at $63.15. 6,725,828 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 13,128,920 shares. The stock had previously closed at $65.86.

A number of other brokerages have also commented on CMG. The Goldman Sachs Group began coverage on Chipotle Mexican Grill in a report on Thursday, June 13th. They set a “buy” rating and a $74.60 price target on the stock. Jefferies Financial Group increased their price objective on shares of Chipotle Mexican Grill from $47.00 to $54.00 and gave the company a “hold” rating in a report on Tuesday, April 16th. Evercore ISI raised their price objective on shares of Chipotle Mexican Grill from $64.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Morgan Stanley upped their target price on Chipotle Mexican Grill from $59.72 to $62.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $70.00 price target on shares of Chipotle Mexican Grill in a research report on Friday, June 21st. Nine analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, Chipotle Mexican Grill has a consensus rating of “Moderate Buy” and a consensus price target of $64.29.

Insider Transactions at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 125,450 shares of Chipotle Mexican Grill stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $63.29, for a total transaction of $7,939,579.96. Following the transaction, the insider now owns 54,250 shares of the company’s stock, valued at approximately $3,433,417.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 125,450 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $63.29, for a total value of $7,939,579.96. Following the completion of the sale, the insider now owns 54,250 shares in the company, valued at approximately $3,433,417.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brian R. Niccol sold 320,300 shares of Chipotle Mexican Grill stock in a transaction on 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 sale, the chief executive officer now directly owns 1,133,450 shares of the company’s stock, valued at approximately $72,221,620.48. The disclosure for this sale can be found here. Insiders sold a total of 550,750 shares of company stock valued at $35,023,769 over the last quarter. Company insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CMG. Vanguard Group Inc. grew its stake in shares of Chipotle Mexican Grill by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 2,732,471 shares of the restaurant operator’s stock valued at $7,942,665,000 after buying an additional 25,238 shares in the last quarter. Capital World Investors increased its stake in shares of Chipotle Mexican Grill by 0.8% during the 4th quarter. Capital World Investors now owns 1,125,974 shares of the restaurant operator’s stock worth $2,575,057,000 after purchasing an additional 8,541 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Chipotle Mexican Grill by 3.5% during the 3rd quarter. American Century Companies Inc. now owns 399,902 shares of the restaurant operator’s stock worth $732,552,000 after purchasing an additional 13,482 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Chipotle Mexican Grill by 41.6% during the 3rd quarter. Wellington Management Group LLP now owns 397,182 shares of the restaurant operator’s stock valued at $727,570,000 after purchasing an additional 116,723 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Chipotle Mexican Grill in the 4th quarter valued at $805,529,000. 91.31% of the stock is owned by institutional investors and hedge funds.

Chipotle Mexican Grill Price Performance

The stock’s fifty day moving average is $127.77 and its 200-day moving average is $77.99. The stock has a market capitalization of $86.29 billion, a P/E ratio of 66.84, a PEG ratio of 2.62 and a beta of 1.25.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Wednesday, April 24th. The restaurant operator reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.04. Chipotle Mexican Grill had a return on equity of 43.74% and a net margin of 12.70%. The business had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.67 billion. On average, research analysts expect that Chipotle Mexican Grill, Inc. will post 1.11 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.