Chipotle Mexican Grill (NYSE:CMG) Shares Down 1.3% – What’s Next?

Chipotle Mexican Grill, Inc. (NYSE:CMG)’s share price dropped 1.3% on Wednesday . The company traded as low as $58.42 and last traded at $59.13. Approximately 3,080,654 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 13,932,616 shares. The stock had previously closed at $59.88.

Wall Street Analysts Forecast Growth

CMG has been the subject of several recent analyst reports. Piper Sandler lifted their price target on Chipotle Mexican Grill from $56.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. Stifel Nicolaus restated a “buy” rating and set a $70.00 price target on shares of Chipotle Mexican Grill in a research report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $67.00 price objective on shares of Chipotle Mexican Grill in a research note on Wednesday, August 14th. Citigroup lifted their price target on Chipotle Mexican Grill from $69.00 to $71.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Finally, StockNews.com lowered Chipotle Mexican Grill from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.03.

Chipotle Mexican Grill Stock Performance

The stock has a market capitalization of $81.63 billion, a price-to-earnings ratio of 63.16, a PEG ratio of 2.41 and a beta of 1.25. The company has a 50 day moving average of $56.63 and a 200 day moving average of $81.17.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results 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 quarter in the previous year, the firm earned $12.65 earnings per share. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. As a group, research analysts expect that Chipotle Mexican Grill, Inc. will post 1.08 EPS for the current fiscal year.

Insider Buying and Selling at Chipotle Mexican Grill

In related news, Director Robin S. Hickenlooper sold 1,790 shares of Chipotle Mexican Grill stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $56.38, for a total transaction of $100,920.20. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Robin S. Hickenlooper sold 1,790 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $56.38, for a total transaction of $100,920.20. Following the transaction, the director now directly owns 41,510 shares in the company, valued at approximately $2,340,333.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Curtis E. Garner sold 15,750 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $55.02, for a total transaction of $866,565.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 50,684 shares of company stock worth $2,817,127 over the last ninety days. Corporate insiders own 1.02% of the company’s stock.

Institutional Trading of Chipotle Mexican Grill

Hedge funds have recently added to or reduced their stakes in the stock. Semmax Financial Advisors Inc. grew its position in Chipotle Mexican Grill by 225.0% in the 1st quarter. Semmax Financial Advisors Inc. now owns 13 shares of the restaurant operator’s stock valued at $42,000 after buying an additional 9 shares during the last quarter. Crewe Advisors LLC acquired a new position in shares of Chipotle Mexican Grill during the first quarter worth about $44,000. Westside Investment Management Inc. purchased a new position in Chipotle Mexican Grill during the first quarter worth about $58,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Chipotle Mexican Grill in the first quarter valued at about $78,000. Finally, Register Financial Advisors LLC purchased a new stake in Chipotle Mexican Grill in the 1st quarter valued at approximately $102,000. 91.31% of the stock is owned by institutional investors and hedge funds.

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.