Chipotle Mexican Grill (NYSE:CMG) Shares Down 11.9%

Chipotle Mexican Grill, Inc. (NYSE:CMG) shares traded down 11.9% on Tuesday . The stock traded as low as $48.00 and last traded at $49.24. 47,962,293 shares traded hands during trading, an increase of 229% from the average session volume of 14,581,110 shares. The stock had previously closed at $55.87.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Evercore ISI decreased their price target on Chipotle Mexican Grill from $72.00 to $65.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Morgan Stanley raised their price objective on Chipotle Mexican Grill from $59.72 to $62.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. Oppenheimer decreased their target price on Chipotle Mexican Grill from $70.00 to $65.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Truist Financial reaffirmed a “buy” rating and set a $69.00 price target on shares of Chipotle Mexican Grill in a research note on Tuesday. Finally, KeyCorp lowered their target price on shares of Chipotle Mexican Grill from $68.00 to $66.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Eleven research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $62.88.

Chipotle Mexican Grill Stock Down 7.9 %

The company has a 50-day moving average price of $123.37 and a two-hundred day moving average price of $80.59. The company has a market capitalization of $70.65 billion, a PE ratio of 54.82, a PEG ratio of 2.23 and a beta of 1.24.

Chipotle Mexican Grill (NYSE:CMG) last posted 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 company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the previous year, the firm posted $12.65 EPS. The firm’s revenue was up 18.2% compared to the same quarter last year. As a group, equities analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 17,394 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total value of $951,103.92. Following the completion of the sale, the insider now owns 358,300 shares in the company, valued at $19,591,844. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.02% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several institutional investors and hedge funds have recently bought and sold shares of the business. American Century Companies Inc. raised its stake in Chipotle Mexican Grill by 4,732.3% in the second quarter. American Century Companies Inc. now owns 20,177,309 shares of the restaurant operator’s stock worth $1,264,109,000 after buying an additional 19,759,754 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Chipotle Mexican Grill by 5,930.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,310,132 shares of the restaurant operator’s stock worth $645,930,000 after purchasing an additional 10,139,174 shares during the last quarter. Bank of New York Mellon Corp lifted 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 buying an additional 8,186,198 shares in the last quarter. William Blair Investment Management LLC boosted its stake in Chipotle Mexican Grill by 4,565.8% during the 2nd quarter. William Blair Investment Management LLC now owns 5,078,767 shares of the restaurant operator’s stock valued at $318,185,000 after purchasing an additional 4,969,916 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Chipotle Mexican Grill by 5,583.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,043,441 shares of the restaurant operator’s stock worth $315,966,000 after buying an additional 4,954,696 shares in the last quarter. Hedge funds and other institutional investors own 91.31% of the company’s stock.

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.