Chipotle Mexican Grill (NYSE:CMG) Shares Down 1.3% – What’s Next?

Chipotle Mexican Grill, Inc. (NYSE:CMG) fell 1.3% during mid-day trading on Wednesday . The company traded as low as $58.42 and last traded at $59.13. 3,080,654 shares changed hands during trading, a decline of 78% from the average session volume of 13,932,616 shares. The stock had previously closed at $59.88.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CMG. TD Cowen reissued a “buy” rating and issued a $65.00 price objective on shares of Chipotle Mexican Grill in a research note on Thursday, September 12th. Loop Capital decreased their price objective on Chipotle Mexican Grill from $58.00 to $53.00 and set a “hold” rating for the company in a research note on Thursday, July 25th. StockNews.com downgraded Chipotle Mexican Grill from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. Piper Sandler boosted their target price on shares of Chipotle Mexican Grill from $56.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, October 11th. Finally, The Goldman Sachs Group lowered 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 report on Thursday, July 25th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $63.03.

Chipotle Mexican Grill Price Performance

The company has a market capitalization of $81.01 billion, a price-to-earnings ratio of 62.90, a P/E/G ratio of 2.41 and a beta of 1.25. The stock has a fifty day simple moving average of $56.37 and a 200-day simple moving average of $81.48.

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

Insider Activity

In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 15,750 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $57.05, for a total value of $898,537.50. Following the sale, the insider now directly owns 457,764 shares of the company’s stock, valued at approximately $26,115,436.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Curtis E. Garner sold 15,750 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $57.05, for a total value of $898,537.50. Following the transaction, the insider now directly owns 457,764 shares of the company’s stock, valued at approximately $26,115,436.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robin S. Hickenlooper sold 1,790 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $56.38, for a total value of $100,920.20. Following the transaction, the director now directly owns 41,510 shares of the company’s stock, valued at $2,340,333.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,684 shares of company stock worth $2,817,127 in the last ninety days. Company insiders own 1.02% of the company’s stock.

Institutional Investors Weigh In On Chipotle Mexican Grill

Hedge funds have recently modified their holdings of the business. Shellback Capital LP raised its holdings in Chipotle Mexican Grill by 4,900.0% in the 2nd quarter. Shellback Capital LP now owns 125,000 shares of the restaurant operator’s stock valued at $7,831,000 after acquiring an additional 122,500 shares during the last quarter. Swedbank AB acquired a new stake in shares of Chipotle Mexican Grill in the first quarter valued at approximately $53,979,000. Transform Wealth LLC lifted its position in Chipotle Mexican Grill by 4,760.7% during the second quarter. Transform Wealth LLC now owns 9,527 shares of the restaurant operator’s stock worth $597,000 after buying an additional 9,331 shares in the last quarter. First Hawaiian Bank boosted its stake in Chipotle Mexican Grill by 4,731.0% during the second quarter. First Hawaiian Bank now owns 17,150 shares of the restaurant operator’s stock worth $1,074,000 after buying an additional 16,795 shares during the last quarter. Finally, Legacy Private Trust Co. purchased a new stake in Chipotle Mexican Grill in the 3rd quarter valued at $2,267,000. 91.31% of the stock is currently owned by institutional investors and hedge funds.

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.