Chipotle Mexican Grill (NYSE:CMG) Stock Price Down 0.6% on Insider Selling

Chipotle Mexican Grill, Inc. (NYSE:CMG)’s stock price dropped 0.6% during mid-day trading on Friday following insider selling activity. The company traded as low as $55.69 and last traded at $56.04. Approximately 1,600,666 shares were traded during trading, a decline of 89% from the average daily volume of 14,810,665 shares. The stock had previously closed at $56.35.

Specifically, insider Curtis E. Garner sold 15,750 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $55.02, for a total transaction of $866,565.00. Following the transaction, the insider now owns 473,514 shares of the company’s stock, valued at approximately $26,052,740.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robin S. Hickenlooper sold 1,790 shares of the company’s 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 sale, the director now directly owns 41,510 shares in the company, valued at $2,340,333.80. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Several research firms have weighed in on CMG. 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. Piper Sandler dropped their price objective on shares of Chipotle Mexican Grill from $61.00 to $56.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. Guggenheim lifted their target price on Chipotle Mexican Grill from $54.50 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Stephens reiterated an “equal weight” rating and set a $61.00 price target on shares of Chipotle Mexican Grill in a research report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. raised their price target on Chipotle Mexican Grill from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, June 3rd. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $62.36.

Chipotle Mexican Grill Stock Down 0.4 %

The firm’s 50-day moving average is $54.30 and its two-hundred day moving average is $80.90. The stock has a market cap of $76.86 billion, a P/E ratio of 59.88, a price-to-earnings-growth ratio of 2.33 and a beta of 1.25.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the prior year, the company posted $12.65 earnings per share. Chipotle Mexican Grill’s revenue for the quarter was up 18.2% on a year-over-year basis. Analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Chipotle Mexican Grill

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. grew its stake in Chipotle Mexican Grill by 4,732.3% in the 2nd quarter. American Century Companies Inc. now owns 20,177,309 shares of the restaurant operator’s stock valued at $1,264,109,000 after buying an additional 19,759,754 shares during the last quarter. Legal & General Group Plc boosted its holdings in Chipotle Mexican Grill by 5,209.5% during the second quarter. Legal & General Group Plc now owns 10,935,669 shares of the restaurant operator’s stock valued at $685,128,000 after acquiring an additional 10,729,706 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Chipotle Mexican Grill by 5,930.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,310,132 shares of the restaurant operator’s stock valued at $645,930,000 after purchasing an additional 10,139,174 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Chipotle Mexican Grill by 4,816.1% in the second quarter. Bank of New York Mellon Corp now owns 8,356,173 shares of the restaurant operator’s stock worth $523,514,000 after purchasing an additional 8,186,198 shares during the period. Finally, Marshall Wace LLP lifted its position in shares of Chipotle Mexican Grill by 76,617.6% during the 2nd quarter. Marshall Wace LLP now owns 5,904,952 shares of the restaurant operator’s stock worth $369,945,000 after purchasing an additional 5,897,255 shares during the last quarter. Institutional investors and hedge funds 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.