Chipotle Mexican Grill (NYSE:CMG) Shares Down 1.9% – Here’s Why

Chipotle Mexican Grill, Inc. (NYSE:CMG) shares were down 1.9% during mid-day trading on Friday . The stock traded as low as $58.76 and last traded at $58.79. Approximately 1,542,715 shares changed hands during trading, a decline of 89% from the average daily volume of 13,827,995 shares. The stock had previously closed at $59.91.

Wall Street Analyst Weigh In

CMG has been the topic of several analyst reports. Evercore ISI increased their target price on Chipotle Mexican Grill from $59.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, October 15th. Stephens reissued an “equal weight” rating and issued a $65.00 target price on shares of Chipotle Mexican Grill in a research note on Tuesday. Royal Bank of Canada initiated coverage on Chipotle Mexican Grill in a research note on Friday. They issued an “outperform” rating and a $70.00 target price on the stock. Wells Fargo & Company increased their target price on Chipotle Mexican Grill from $66.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird increased their target price on Chipotle Mexican Grill from $62.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $65.27.

Chipotle Mexican Grill Stock Performance

The firm has a market capitalization of $79.89 billion, a price-to-earnings ratio of 54.94, a PEG ratio of 2.39 and a beta of 1.26. The company has a fifty day moving average of $57.92 and a two-hundred day moving average of $81.10.

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

Insider Activity

In related news, Director Robin S. Hickenlooper sold 1,790 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $56.38, for a total transaction of $100,920.20. Following the sale, the director now owns 41,510 shares in the company, valued at $2,340,333.80. The trade was a 4.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Curtis E. Garner sold 15,750 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $55.02, for a total value of $866,565.00. Following the sale, the insider now owns 473,514 shares in the company, valued at $26,052,740.28. This represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,290 shares of company stock worth $1,866,023. 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 bought and sold shares of the company. Shellback Capital LP grew its position in shares of Chipotle Mexican Grill by 4,900.0% in the 2nd quarter. Shellback Capital LP now owns 125,000 shares of the restaurant operator’s stock valued at $7,831,000 after buying an additional 122,500 shares during the last quarter. Swedbank AB bought a new stake in shares of Chipotle Mexican Grill in the 1st quarter valued at about $53,979,000. Optas LLC grew its position in shares of Chipotle Mexican Grill by 318.5% in the 3rd quarter. Optas LLC now owns 17,160 shares of the restaurant operator’s stock valued at $989,000 after buying an additional 13,060 shares during the last quarter. Savvy Advisors Inc. bought a new stake in shares of Chipotle Mexican Grill in the 3rd quarter valued at about $758,000. Finally, Pathway Financial Advisers LLC grew its position in shares of Chipotle Mexican Grill by 5,662.0% in the 3rd quarter. Pathway Financial Advisers LLC now owns 8,643 shares of the restaurant operator’s stock valued at $498,000 after buying an additional 8,493 shares during the last quarter. 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.