Chipotle Mexican Grill (NYSE:CMG) Shares Down 1.9% – Here’s Why

Chipotle Mexican Grill, Inc. (NYSE:CMG) fell 1.9% during trading on Friday . The company traded as low as $58.76 and last traded at $58.79. 1,542,715 shares traded hands during trading, a decline of 89% from the average session volume of 13,827,995 shares. The stock had previously closed at $59.91.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CMG. BMO Capital Markets raised their price objective on Chipotle Mexican Grill from $55.00 to $56.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Stifel Nicolaus restated a “buy” rating and set a $70.00 price objective on shares of Chipotle Mexican Grill in a research report on Wednesday, August 14th. KeyCorp decreased their price objective on Chipotle Mexican Grill from $68.00 to $66.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. Oppenheimer reaffirmed an “outperform” rating and set a $65.00 price target on shares of Chipotle Mexican Grill in a research note on Monday, September 30th. Finally, Wells Fargo & Company raised their price target on Chipotle Mexican Grill from $66.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, Chipotle Mexican Grill has a consensus rating of “Moderate Buy” and a consensus target price of $65.27.

Chipotle Mexican Grill Stock Performance

The company has a 50-day simple moving average of $57.92 and a 200 day simple moving average of $81.10. The company has a market capitalization of $79.89 billion, a P/E ratio of 54.94, a P/E/G ratio of 2.39 and a beta of 1.26.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. Chipotle Mexican Grill had a return on equity of 43.20% and a net margin of 13.51%. Chipotle Mexican Grill’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.23 earnings per share. As a group, sell-side analysts forecast that Chipotle Mexican Grill, Inc. will post 1.11 earnings per share for the current year.

Insider Activity

In other news, Director Robin S. Hickenlooper sold 1,790 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $56.38, for a total transaction of $100,920.20. Following the sale, the director now owns 41,510 shares in the company, valued at approximately $2,340,333.80. This represents a 4.13 % 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 link. Also, insider Curtis E. Garner sold 15,750 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $55.02, for a total value of $866,565.00. Following the sale, the insider now owns 473,514 shares in the company, valued at $26,052,740.28. The trade was a 3.22 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,290 shares of company stock worth $1,866,023. Company insiders own 1.02% of the company’s stock.

Institutional Trading of Chipotle Mexican Grill

Large investors have recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Chipotle Mexican Grill during the second quarter worth $25,000. Riverview Trust Co lifted its stake in shares of Chipotle Mexican Grill by 4,900.0% during the second quarter. Riverview Trust Co now owns 400 shares of the restaurant operator’s stock valued at $25,000 after acquiring an additional 392 shares during the period. RiverPark Advisors LLC lifted its stake in shares of Chipotle Mexican Grill by 4,900.0% during the second quarter. RiverPark Advisors LLC now owns 400 shares of the restaurant operator’s stock valued at $25,000 after acquiring an additional 392 shares during the period. Archer Investment Corp acquired a new position in shares of Chipotle Mexican Grill during the second quarter valued at $25,000. Finally, Oliver Lagore Vanvalin Investment Group lifted its stake in shares of Chipotle Mexican Grill by 4,900.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the restaurant operator’s stock valued at $25,000 after acquiring an additional 392 shares during the period. Institutional investors own 91.31% of the company’s stock.

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.