Chipotle Mexican Grill (NYSE:CMG) Shares Down 1.6%

Chipotle Mexican Grill, Inc. (NYSE:CMG)’s stock price fell 1.6% during trading on Wednesday . The stock traded as low as $57.53 and last traded at $57.56. 1,823,227 shares changed hands during trading, a decline of 88% from the average session volume of 14,727,790 shares. The stock had previously closed at $58.50.

Analyst Ratings Changes

CMG has been the topic of several recent analyst reports. The Goldman Sachs Group reduced their price target on shares of Chipotle Mexican Grill from $74.60 to $67.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Piper Sandler decreased their price target on shares of Chipotle Mexican Grill from $61.00 to $56.00 and set a “neutral” rating for the company in a research note on Thursday, July 25th. BMO Capital Markets dropped their price target on Chipotle Mexican Grill from $57.00 to $55.00 and set a “market perform” rating on the stock in a research report on Thursday, July 25th. TD Cowen restated a “buy” rating and issued a $65.00 price objective on shares of Chipotle Mexican Grill in a report on Thursday, September 12th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $70.00 target price on shares of Chipotle Mexican Grill in a research report on Wednesday, August 14th. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Chipotle Mexican Grill has a consensus rating of “Moderate Buy” and a consensus price target of $62.36.

Chipotle Mexican Grill Stock Performance

The business’s 50 day moving average is $54.29 and its 200-day moving average is $81.15. The stock has a market cap of $79.05 billion, a price-to-earnings ratio of 61.23, a PEG ratio of 2.33 and a beta of 1.25.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.02. Chipotle Mexican Grill had a return on equity of 44.01% and a net margin of 13.23%. The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter last year, the business posted $12.65 earnings per share. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. Sell-side analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.08 EPS for the current fiscal year.

Insider Activity

In related news, Director Robin S. Hickenlooper sold 1,790 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $56.38, for a total value of $100,920.20. Following the sale, the director now directly owns 41,510 shares in the company, valued at approximately $2,340,333.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 15,750 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $55.02, for a total transaction of $866,565.00. Following the sale, the insider now directly owns 473,514 shares in the company, valued at $26,052,740.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robin S. Hickenlooper sold 1,790 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $56.38, for a total transaction of $100,920.20. Following the completion of the transaction, the director now directly owns 41,510 shares of the company’s stock, valued at approximately $2,340,333.80. The disclosure for this sale can be found here. Insiders sold a total of 34,934 shares of company stock valued at $1,918,589 in the last 90 days. Company insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

Several large investors have recently bought and sold shares of CMG. American Century Companies Inc. boosted its holdings in Chipotle Mexican Grill by 4,732.3% in the second quarter. American Century Companies Inc. now owns 20,177,309 shares of the restaurant operator’s stock valued at $1,264,109,000 after purchasing an additional 19,759,754 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Chipotle Mexican Grill by 5,209.5% in the 2nd quarter. Legal & General Group Plc now owns 10,935,669 shares of the restaurant operator’s stock valued at $685,128,000 after buying an additional 10,729,706 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Chipotle Mexican Grill by 5,930.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,310,132 shares of the restaurant operator’s stock valued at $645,930,000 after buying an additional 10,139,174 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Chipotle Mexican Grill by 4,816.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 8,356,173 shares of the restaurant operator’s stock worth $523,514,000 after acquiring an additional 8,186,198 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in Chipotle Mexican Grill by 76,617.6% in the second quarter. Marshall Wace LLP now owns 5,904,952 shares of the restaurant operator’s stock valued at $369,945,000 after acquiring an additional 5,897,255 shares during the last quarter. Hedge funds and other institutional investors own 91.31% of the company’s stock.

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.