Chipotle Mexican Grill (NYSE:CMG) Trading Down 11.9%

Chipotle Mexican Grill, Inc. (NYSE:CMG) was down 11.9% during trading on Tuesday . The stock traded as low as $48.00 and last traded at $49.24. Approximately 47,962,293 shares traded hands during trading, an increase of 229% from the average daily volume of 14,581,110 shares. The stock had previously closed at $55.87.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CMG. TD Cowen lowered their target price on shares of Chipotle Mexican Grill from $72.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. JPMorgan Chase & Co. raised their price objective on Chipotle Mexican Grill from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, June 3rd. Guggenheim upped their target price on Chipotle Mexican Grill from $54.50 to $55.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Wells Fargo & Company raised their price target on Chipotle Mexican Grill from $65.70 to $66.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Finally, The Goldman Sachs Group dropped their price target on 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. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.36.

Chipotle Mexican Grill Price Performance

The firm has a fifty day moving average of $122.94 and a 200 day moving average of $80.42. The stock has a market capitalization of $70.92 billion, a price-to-earnings ratio of 54.94, a price-to-earnings-growth ratio of 2.23 and a beta of 1.24.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Wednesday, July 24th. The restaurant operator reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The business had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.94 billion. Chipotle Mexican Grill had a net margin of 13.23% and a return on equity of 44.01%. During the same quarter last year, the company earned $12.65 EPS. The business’s revenue was up 18.2% on a year-over-year basis. Research analysts predict that Chipotle Mexican Grill, Inc. will post 1.09 EPS for the current year.

Insider Activity at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 17,394 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $54.68, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.02% of the stock is owned by company insiders.

Institutional Trading of Chipotle Mexican Grill

Institutional investors have recently bought and sold shares of the business. APG Asset Management N.V. grew its stake in Chipotle Mexican Grill by 10,215.0% in the 2nd quarter. APG Asset Management N.V. now owns 346,997 shares of the restaurant operator’s stock valued at $20,284,000 after acquiring an additional 343,633 shares during the period. AQR Capital Management LLC lifted its holdings in Chipotle Mexican Grill by 6,990.3% during the second quarter. AQR Capital Management LLC now owns 2,283,792 shares of the restaurant operator’s stock valued at $143,080,000 after purchasing an additional 2,251,582 shares in the last quarter. Armistice Capital LLC purchased a new position in Chipotle Mexican Grill during the second quarter valued at $7,831,000. AXA S.A. grew its position in shares of Chipotle Mexican Grill by 5,381.0% in the second quarter. AXA S.A. now owns 1,356,659 shares of the restaurant operator’s stock valued at $84,995,000 after purchasing an additional 1,331,907 shares during the period. Finally, Alpha DNA Investment Management LLC increased its stake in shares of Chipotle Mexican Grill by 7,734.9% during the second quarter. Alpha DNA Investment Management LLC now owns 13,476 shares of the restaurant operator’s stock worth $844,000 after purchasing an additional 13,304 shares in the last quarter. 91.31% of the stock is 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.