Chipotle Mexican Grill (NYSE:CMG) Stock Price Down 1.6% After Analyst Downgrade

Chipotle Mexican Grill, Inc. (NYSE:CMG)’s stock price traded 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. 11,170,129 shares were traded during trading, a decline of 14% from the average session volume of 13,049,469 shares. The stock had previously closed at $65.66.

Several other brokerages also recently commented on CMG. Barclays increased their target price on shares of Chipotle Mexican Grill from $48.00 to $57.30 and gave the company an “equal weight” rating in a report on Thursday, April 25th. UBS Group lifted their target price on shares of Chipotle Mexican Grill from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Stephens upped their target price on Chipotle Mexican Grill from $60.20 to $61.00 and gave the company an “equal weight” rating in a report on Thursday, April 25th. Truist Financial increased their price target on Chipotle Mexican Grill from $68.80 to $70.40 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Finally, Wells Fargo & Company boosted their price objective on Chipotle Mexican Grill from $65.70 to $66.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, Chipotle Mexican Grill currently has a consensus rating of “Moderate Buy” and an average target price of $64.02.

Insiders Place Their Bets

In other news, insider Roger E. Theodoredis sold 125,450 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $63.29, for a total value of $7,939,579.96. Following the completion of the transaction, the insider now directly owns 54,250 shares in the company, valued at $3,433,417.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Albert S. Baldocchi sold 50,000 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $63.32, for a total transaction of $3,166,010.00. Following the completion of the transaction, the director now owns 1,362,500 shares of the company’s stock, valued at $86,273,772.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Roger E. Theodoredis sold 125,450 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly owns 54,250 shares in the company, valued at $3,433,417.40. The disclosure for this sale can be found here. Insiders sold a total of 550,750 shares of company stock worth $35,023,769 in the last quarter. 1.02% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of institutional investors have recently made changes to their positions in CMG. Norges Bank purchased a new stake in Chipotle Mexican Grill in the fourth quarter worth approximately $805,529,000. International Assets Investment Management LLC boosted its stake in shares of Chipotle Mexican Grill by 220,249.6% in the 4th quarter. International Assets Investment Management LLC now owns 301,879 shares of the restaurant operator’s stock valued at $6,903,850,000 after purchasing an additional 301,742 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Chipotle Mexican Grill by 41.6% during the 3rd quarter. Wellington Management Group LLP now owns 397,182 shares of the restaurant operator’s stock valued at $727,570,000 after purchasing an additional 116,723 shares during the last quarter. Global Assets Advisory LLC purchased a new position in Chipotle Mexican Grill in the 1st quarter worth $167,256,000. Finally, 1832 Asset Management L.P. bought a new stake in Chipotle Mexican Grill in the fourth quarter worth $100,535,000. Institutional investors own 91.31% of the company’s stock.

Chipotle Mexican Grill Stock Down 0.0 %

The firm’s 50-day simple moving average is $127.42 and its 200-day simple moving average is $78.06. The firm has a market capitalization of $1.80 billion, a PE ratio of 1.40, a price-to-earnings-growth ratio of 2.61 and a beta of 1.25.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, April 24th. The restaurant operator reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.04. Chipotle Mexican Grill had a return on equity of 43.74% and a net margin of 12.70%. The company had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.67 billion. On average, equities research analysts forecast that Chipotle Mexican Grill, Inc. will post 55.31 earnings per share 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.