Chipotle Mexican Grill (NYSE:CMG) Shares Gap Down After Analyst Downgrade

Chipotle Mexican Grill, Inc. (NYSE:CMG)’s stock price gapped down before the market opened on Wednesday after Citigroup lowered their price target on the stock from $71.00 to $70.00. The stock had previously closed at $60.49, but opened at $57.36. Citigroup currently has a buy rating on the stock. Chipotle Mexican Grill shares last traded at $56.24, with a volume of 3,606,166 shares trading hands.

A number of other research analysts have also recently commented on CMG. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $67.00 target price on shares of Chipotle Mexican Grill in a research report on Wednesday, August 14th. The Goldman Sachs Group reduced their price objective on shares of Chipotle Mexican Grill from $74.60 to $67.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Truist Financial upped their target price on shares of Chipotle Mexican Grill from $71.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday. Evercore ISI lifted their price target on Chipotle Mexican Grill from $59.00 to $70.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. Finally, Robert W. Baird increased their price objective on shares of Chipotle Mexican Grill from $62.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, Chipotle Mexican Grill has an average rating of “Moderate Buy” and an average price target of $64.47.

Insider Activity at Chipotle Mexican Grill

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 transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 17,394 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total value of $951,103.92. Following the transaction, the insider now directly owns 358,300 shares of the company’s stock, valued at $19,591,844. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 sale, the director now directly owns 41,510 shares of the company’s stock, valued at $2,340,333.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,684 shares of company stock worth $2,817,127. 1.02% of the stock is owned by corporate insiders.

Institutional Trading of Chipotle Mexican Grill

Large investors have recently added to or reduced their stakes in the business. American Century Companies Inc. boosted its holdings 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 purchasing an additional 19,759,754 shares in the last quarter. Legal & General Group Plc lifted its holdings in Chipotle Mexican Grill by 5,209.5% in the 2nd quarter. Legal & General Group Plc now owns 10,935,669 shares of the restaurant operator’s stock worth $685,128,000 after purchasing an additional 10,729,706 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake 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 last quarter. Bank of New York Mellon Corp raised its holdings in 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 worth $523,514,000 after acquiring an additional 8,186,198 shares during the period. Finally, Marshall Wace LLP lifted its position in Chipotle Mexican Grill by 76,617.6% during the 2nd quarter. Marshall Wace LLP now owns 5,904,952 shares of the restaurant operator’s stock worth $369,945,000 after acquiring an additional 5,897,255 shares during the last quarter. 91.31% of the stock is owned by institutional investors.

Chipotle Mexican Grill Stock Up 0.1 %

The firm has a 50-day moving average price of $57.18 and a two-hundred day moving average price of $81.14. The company has a market capitalization of $76.38 billion, a P/E ratio of 54.68, a PEG ratio of 2.41 and a beta of 1.25.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly 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 for the quarter, compared to analyst estimates of $2.82 billion. Chipotle Mexican Grill had a net margin of 13.23% and a return on equity of 44.01%. The business’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period last year, the business posted $0.23 EPS. On average, analysts predict that Chipotle Mexican Grill, Inc. will post 1.08 EPS for the current fiscal 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.