Chipotle Mexican Grill (NYSE:CMG) Stock Price Down 0.7% – Here’s Why

Chipotle Mexican Grill, Inc. (NYSE:CMG) shares fell 0.7% during mid-day trading on Monday . The company traded as low as $58.31 and last traded at $58.42. 3,298,661 shares traded hands during trading, a decline of 76% from the average session volume of 13,881,207 shares. The stock had previously closed at $58.81.

Analysts Set New Price Targets

CMG has been the topic of several analyst reports. Oppenheimer reaffirmed an “outperform” rating and set a $65.00 price target on shares of Chipotle Mexican Grill in a research note on Monday, September 30th. Wedbush reissued an “outperform” rating and issued a $69.00 price objective on shares of Chipotle Mexican Grill in a report on Wednesday, October 30th. Evercore ISI boosted their price target on Chipotle Mexican Grill from $59.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Guggenheim increased their target price on shares of Chipotle Mexican Grill from $54.50 to $55.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Finally, Citigroup cut their target price on shares of Chipotle Mexican Grill from $71.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $64.47.

Chipotle Mexican Grill Trading Down 2.0 %

The stock has a market cap of $80.75 billion, a PE ratio of 55.52, a PEG ratio of 2.44 and a beta of 1.26. The business has a 50-day moving average price of $57.66 and a 200 day moving average price of $81.40.

Chipotle Mexican Grill (NYSE:CMG) last announced its earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.02. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.23 earnings per share. On average, equities analysts predict that Chipotle Mexican Grill, Inc. will post 1.11 earnings per share for the current year.

Insider Activity at Chipotle Mexican Grill

In related news, insider Curtis E. Garner sold 15,750 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $55.02, for a total transaction of $866,565.00. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Curtis E. Garner sold 15,750 shares of the firm’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 transaction, the insider now owns 473,514 shares of the company’s stock, valued at approximately $26,052,740.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robin S. Hickenlooper sold 1,790 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $56.38, for a total value of $100,920.20. Following the completion of the transaction, the director now directly owns 41,510 shares in the company, valued at $2,340,333.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,290 shares of company stock worth $1,866,023 in the last 90 days. Company insiders own 1.02% of the company’s stock.

Institutional Investors Weigh In On Chipotle Mexican Grill

Hedge funds and other institutional investors have recently modified their holdings of the business. Empowered Funds LLC grew its stake in shares of Chipotle Mexican Grill by 27.9% during the first quarter. Empowered Funds LLC now owns 344 shares of the restaurant operator’s stock worth $1,000,000 after acquiring an additional 75 shares during the last quarter. QRG Capital Management Inc. raised its stake in Chipotle Mexican Grill by 9.7% in the 1st quarter. QRG Capital Management Inc. now owns 373 shares of the restaurant operator’s stock valued at $1,085,000 after purchasing an additional 33 shares during the last quarter. US Bancorp DE grew its stake in Chipotle Mexican Grill by 2.3% during the 1st quarter. US Bancorp DE now owns 1,988 shares of the restaurant operator’s stock valued at $5,779,000 after acquiring an additional 45 shares in the last quarter. Bleakley Financial Group LLC increased its position in Chipotle Mexican Grill by 5.1% during the first quarter. Bleakley Financial Group LLC now owns 846 shares of the restaurant operator’s stock worth $2,459,000 after purchasing an additional 41 shares during the last quarter. Finally, Dearborn Partners LLC raised its position in shares of Chipotle Mexican Grill by 28.8% during the 1st quarter. Dearborn Partners LLC now owns 134 shares of the restaurant operator’s stock valued at $390,000 after buying an additional 30 shares during the period. 91.31% of the stock is currently owned by hedge funds and other institutional investors.

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.