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

Chipotle Mexican Grill, Inc. (NYSE:CMG)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $60.49, but opened at $57.36. Chipotle Mexican Grill shares last traded at $56.24, with a volume of 3,606,166 shares traded.

Analyst Upgrades and Downgrades

CMG has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $67.00 price objective on shares of Chipotle Mexican Grill in a research report on Wednesday, August 14th. Stifel Nicolaus reaffirmed a “buy” rating and set a $70.00 price objective on shares of Chipotle Mexican Grill in a research report on Wednesday, August 14th. Loop Capital reduced their price objective on Chipotle Mexican Grill from $58.00 to $53.00 and set a “hold” rating for the company in a research report on Thursday, July 25th. TD Cowen reiterated a “buy” rating and set a $65.00 target price on shares of Chipotle Mexican Grill in a research note on Thursday, September 12th. Finally, Wells Fargo & Company increased their target price on Chipotle Mexican Grill from $66.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, Chipotle Mexican Grill currently has an average rating of “Moderate Buy” and a consensus target price of $63.62.

Chipotle Mexican Grill Stock Down 6.8 %

The stock has a fifty day simple moving average of $57.10 and a 200 day simple moving average of $81.50. The firm has a market capitalization of $77.20 billion, a P/E ratio of 55.26, a PEG ratio of 2.41 and a beta of 1.25.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.25 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 $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same period last year, the firm earned $0.23 earnings per share. The business’s quarterly revenue was up 13.0% on a year-over-year basis. Research analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 17,394 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total transaction of $951,103.92. Following the completion of the transaction, the insider now owns 358,300 shares in the company, valued at $19,591,844. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Curtis E. Garner sold 15,750 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $55.02, for a total value of $866,565.00. Following the completion of the transaction, the insider now owns 473,514 shares of the company’s stock, valued at $26,052,740.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Curtis E. Garner sold 17,394 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total transaction of $951,103.92. Following the completion of the transaction, the insider now directly owns 358,300 shares of the company’s stock, valued at $19,591,844. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,684 shares of company stock worth $2,817,127 over the last 90 days. Company insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of large investors have recently bought and sold shares of the business. Shellback Capital LP increased its position in shares of Chipotle Mexican Grill by 4,900.0% during the second quarter. Shellback Capital LP now owns 125,000 shares of the restaurant operator’s stock worth $7,831,000 after purchasing an additional 122,500 shares in the last quarter. Swedbank AB acquired a new position in shares of Chipotle Mexican Grill during the first quarter worth $53,979,000. Transform Wealth LLC increased its position in shares of 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 purchasing an additional 9,331 shares in the last quarter. Pathway Financial Advisers LLC increased its position in shares of Chipotle Mexican Grill by 5,662.0% in the 3rd quarter. Pathway Financial Advisers LLC now owns 8,643 shares of the restaurant operator’s stock valued at $498,000 after acquiring an additional 8,493 shares during the period. Finally, First Hawaiian Bank increased its position in shares of Chipotle Mexican Grill by 4,731.0% in the 2nd quarter. First Hawaiian Bank now owns 17,150 shares of the restaurant operator’s stock valued at $1,074,000 after acquiring an additional 16,795 shares during the period. 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.