Chipotle Mexican Grill (NYSE:CMG) Trading Down 0.4% – Here’s What Happened

Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) traded down 0.4% during mid-day trading on Wednesday . The company traded as low as $59.15 and last traded at $59.60. 1,150,935 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 14,111,998 shares. The stock had previously closed at $59.81.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CMG shares. KeyCorp cut their target price on Chipotle Mexican Grill from $68.00 to $66.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Loop Capital decreased their target price 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. StockNews.com downgraded shares of Chipotle Mexican Grill from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. Wedbush restated an “outperform” rating and set a $58.00 price target on shares of Chipotle Mexican Grill in a research report on Thursday, August 29th. Finally, Truist Financial lifted their price objective on shares of Chipotle Mexican Grill from $69.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $63.03.

Chipotle Mexican Grill Stock Up 0.9 %

The firm has a market capitalization of $81.56 billion, a PE ratio of 62.53, a PEG ratio of 2.41 and a beta of 1.25. The company has a 50-day moving average of $56.05 and a 200 day moving average of $81.11.

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 the consensus estimate of $0.32 by $0.02. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.94 billion. Chipotle Mexican Grill had a return on equity of 44.01% and a net margin of 13.23%. Chipotle Mexican Grill’s revenue was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $12.65 earnings per share. As a group, equities analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.08 EPS for the current fiscal year.

Insider Transactions at Chipotle Mexican Grill

In other news, insider Curtis E. Garner sold 17,394 shares of Chipotle Mexican Grill stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $54.68, for a total transaction of $951,103.92. Following the completion of the sale, the insider now directly owns 358,300 shares of the company’s stock, valued at approximately $19,591,844. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 17,394 shares of Chipotle Mexican Grill stock in a transaction dated 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 sale, the insider now owns 358,300 shares of the company’s stock, valued at $19,591,844. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Curtis E. Garner sold 15,750 shares of the company’s stock in a transaction dated 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 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 disclosure for this sale can be found here. Insiders have sold 50,684 shares of company stock valued at $2,817,127 in the last quarter. Insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CMG. American Century Companies Inc. raised its position 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 worth $1,264,109,000 after purchasing an additional 19,759,754 shares during the period. Legal & General Group Plc grew its stake in shares of 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 buying an additional 10,729,706 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings 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 worth $645,930,000 after buying an additional 10,139,174 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Chipotle Mexican Grill by 4,816.1% in 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 acquiring an additional 8,186,198 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in shares of 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 acquiring an additional 5,897,255 shares during the last quarter. 91.31% of the stock is owned by hedge funds and other institutional investors.

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.