Chipotle Mexican Grill (NYSE:CMG) Stock Price Down 2.3%

Chipotle Mexican Grill, Inc. (NYSE:CMG) shares were down 2.3% on Monday . The stock traded as low as $60.62 and last traded at $61.19. Approximately 4,480,223 shares changed hands during trading, a decline of 66% from the average daily volume of 13,305,550 shares. The stock had previously closed at $62.65.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CMG shares. Argus raised their price target on shares of Chipotle Mexican Grill from $73.36 to $77.76 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Morgan Stanley raised their target price on shares of Chipotle Mexican Grill from $59.72 to $62.00 and gave the stock an “equal weight” rating in a report on Thursday, April 25th. UBS Group raised their target price on shares of Chipotle Mexican Grill from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Chipotle Mexican Grill from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Finally, KeyCorp raised their target price on shares of Chipotle Mexican Grill from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Nine analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.29.

Chipotle Mexican Grill Stock Performance

The stock has a market cap of $84.32 billion, a P/E ratio of 65.51, a price-to-earnings-growth ratio of 2.49 and a beta of 1.24. The firm’s 50 day moving average is $127.85 and its 200 day moving average is $78.54.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Wednesday, April 24th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.67 billion. As a group, analysts expect that Chipotle Mexican Grill, Inc. will post 1.11 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Albert S. Baldocchi sold 50,000 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $63.32, for a total transaction of $3,166,010.00. Following the sale, the director now directly owns 1,362,500 shares of the company’s stock, valued at $86,273,772.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Chipotle Mexican Grill news, CEO Brian R. Niccol sold 320,300 shares of the 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 transaction, the chief executive officer now directly owns 1,133,450 shares of the company’s stock, valued at $72,221,620.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Albert S. Baldocchi sold 50,000 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $63.32, for a total transaction of $3,166,010.00. Following the transaction, the director now directly owns 1,362,500 shares in the company, valued at $86,273,772.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 550,750 shares of company stock valued at $35,023,769. Corporate insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

Hedge funds and other institutional investors have recently modified their holdings of the business. Nordea Investment Management AB lifted its stake in shares of Chipotle Mexican Grill by 104.5% in the fourth quarter. Nordea Investment Management AB now owns 29,192 shares of the restaurant operator’s stock worth $66,555,000 after buying an additional 14,915 shares in the last quarter. Moody National Bank Trust Division increased its position in Chipotle Mexican Grill by 1.0% during the first quarter. Moody National Bank Trust Division now owns 490 shares of the restaurant operator’s stock worth $1,424,000 after purchasing an additional 5 shares during the last quarter. Perpetual Ltd acquired a new stake in Chipotle Mexican Grill during the first quarter worth about $730,000. GAMMA Investing LLC increased its position in Chipotle Mexican Grill by 27.6% during the first quarter. GAMMA Investing LLC now owns 250 shares of the restaurant operator’s stock worth $727,000 after purchasing an additional 54 shares during the last quarter. Finally, Gulf International Bank UK Ltd increased its position in Chipotle Mexican Grill by 0.7% during the first quarter. Gulf International Bank UK Ltd now owns 2,281 shares of the restaurant operator’s stock worth $6,630,000 after purchasing an additional 15 shares during the last quarter. 91.31% of the stock is owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Company Profile

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.