Chipotle Mexican Grill (NYSE:CMG) Trading Down 0.2% – Here’s What Happened

Chipotle Mexican Grill, Inc. (NYSE:CMG)’s stock price dropped 0.2% on Tuesday . The stock traded as low as $58.91 and last traded at $59.17. Approximately 1,792,627 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 14,145,259 shares. The stock had previously closed at $59.28.

Analyst Ratings Changes

Several analysts recently issued reports on CMG shares. StockNews.com lowered shares of Chipotle Mexican Grill from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. BMO Capital Markets reduced their price objective on Chipotle Mexican Grill from $57.00 to $55.00 and set a “market perform” rating for the company in a research note on Thursday, July 25th. The Goldman Sachs Group lowered their target price on Chipotle Mexican Grill from $74.60 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Stephens restated an “equal weight” rating and issued a $61.00 price target on shares of Chipotle Mexican Grill in a research report on Tuesday, August 13th. Finally, Raymond James lowered their price objective on Chipotle Mexican Grill from $70.00 to $62.50 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $63.03.

Chipotle Mexican Grill Trading Down 0.4 %

The business has a 50-day moving average price of $55.96 and a 200 day moving average price of $81.26. The stock has a market capitalization of $80.84 billion, a P/E ratio of 62.49, a P/E/G ratio of 2.41 and a beta of 1.25.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data 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 business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same quarter last year, the business earned $12.65 earnings per share. Chipotle Mexican Grill’s quarterly revenue was up 18.2% compared to the same quarter last year. On average, sell-side analysts predict that Chipotle Mexican Grill, Inc. will post 1.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 15,750 shares of the business’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 transaction of $898,537.50. Following the sale, the insider now directly owns 457,764 shares of the company’s stock, valued at $26,115,436.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Curtis E. Garner sold 15,750 shares of Chipotle Mexican Grill 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 completion of the transaction, the insider now owns 457,764 shares in the company, valued at approximately $26,115,436.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Curtis E. Garner sold 17,394 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $54.68, for a total value of $951,103.92. Following the sale, the insider now owns 358,300 shares in the company, valued at $19,591,844. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,684 shares of company stock worth $2,817,127. Corporate insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of large investors have recently made changes to their positions in CMG. American Century Companies Inc. increased its stake 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 worth $1,264,109,000 after purchasing an additional 19,759,754 shares during the period. Legal & General Group Plc grew its holdings in shares of Chipotle Mexican Grill by 5,209.5% in the second quarter. Legal & General Group Plc now owns 10,935,669 shares of the restaurant operator’s stock worth $685,128,000 after purchasing an additional 10,729,706 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in 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 worth $645,930,000 after buying an additional 10,139,174 shares during the period. Bank of New York Mellon Corp lifted its holdings 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 valued at $523,514,000 after buying an additional 8,186,198 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in Chipotle Mexican Grill by 76,617.6% in the 2nd quarter. Marshall Wace LLP now owns 5,904,952 shares of the restaurant operator’s stock valued at $369,945,000 after buying an additional 5,897,255 shares during the period. 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.