Chipotle Mexican Grill (NYSE:CMG) Trading Down 1.6% Following Analyst Downgrade

Chipotle Mexican Grill, Inc. (NYSE:CMG) was down 1.6% on Wednesday after TD Cowen lowered their price target on the stock from $3,600.00 to $72.00. TD Cowen currently has a buy rating on the stock. Chipotle Mexican Grill traded as low as $62.75 and last traded at $64.61. Approximately 11,170,129 shares were traded during trading, a decline of 14% from the average daily volume of 13,049,469 shares. The stock had previously closed at $65.66.

A number of other research firms have also weighed in on CMG. Stifel Nicolaus upped their target price on shares of Chipotle Mexican Grill from $54.00 to $65.40 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Piper Sandler increased their price objective on shares of Chipotle Mexican Grill from $48.84 to $61.40 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Wedbush reaffirmed a “neutral” rating and set a $64.00 price objective on shares of Chipotle Mexican Grill in a research report on Monday, June 17th. Citigroup boosted their target price on shares of Chipotle Mexican Grill from $67.16 to $67.38 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Finally, Raymond James restated an “outperform” rating and issued a $66.80 price target (up from $66.00) on shares of Chipotle Mexican Grill in a research note on Thursday, April 25th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.02.

Insiders Place Their Bets

In other news, CEO Brian R. Niccol sold 320,300 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $63.72, for a total value of $20,409,003.52. Following the transaction, the chief executive officer now owns 1,133,450 shares of the company’s stock, valued at $72,221,620.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Roger E. Theodoredis sold 125,450 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $63.29, for a total transaction of $7,939,579.96. Following the completion of the transaction, the insider now directly owns 54,250 shares of the company’s stock, valued at $3,433,417.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian R. Niccol sold 320,300 shares of Chipotle Mexican Grill stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $63.72, for a total value of $20,409,003.52. Following the completion of the sale, the chief executive officer now directly owns 1,133,450 shares in the company, valued at approximately $72,221,620.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 550,750 shares of company stock valued at $35,023,769. 1.02% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of large investors have recently modified their holdings of the business. Steph & Co. acquired a new position in Chipotle Mexican Grill during the first quarter worth $29,000. Fortitude Family Office LLC purchased a new stake in shares of Chipotle Mexican Grill during the 4th quarter worth $32,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Chipotle Mexican Grill during the 4th quarter worth $37,000. ICA Group Wealth Management LLC purchased a new position in shares of Chipotle Mexican Grill in the 4th quarter valued at about $37,000. Finally, Semmax Financial Advisors Inc. lifted its stake in shares of Chipotle Mexican Grill by 225.0% in the first quarter. Semmax Financial Advisors Inc. now owns 13 shares of the restaurant operator’s stock valued at $42,000 after purchasing an additional 9 shares during the period. 91.31% of the stock is owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Stock Down 0.0 %

The business’s fifty day moving average is $127.42 and its 200 day moving average is $78.06. The stock has a market cap of $1.80 billion, a PE ratio of 1.40, a P/E/G ratio of 2.61 and a beta of 1.25.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Wednesday, April 24th. The restaurant operator reported $0.27 EPS for the quarter, topping the consensus estimate of $0.23 by $0.04. The business had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.67 billion. Chipotle Mexican Grill had a return on equity of 43.74% and a net margin of 12.70%. As a group, analysts predict that Chipotle Mexican Grill, Inc. will post 55.31 EPS for the current year.

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.