Chipotle Mexican Grill (NYSE:CMG) Trading Down 2.2%

Chipotle Mexican Grill, Inc. (NYSE:CMG)’s stock price dropped 2.2% during trading on Monday . The stock traded as low as $48.25 and last traded at $51.42. Approximately 4,909,490 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 14,389,100 shares. The stock had previously closed at $52.57.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CMG. BMO Capital Markets decreased their target price on shares of Chipotle Mexican Grill from $57.00 to $55.00 and set a “market perform” rating on the stock in a research note on Thursday, July 25th. Piper Sandler reduced their price objective on Chipotle Mexican Grill from $61.00 to $56.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. Loop Capital dropped their target price on Chipotle Mexican Grill from $58.00 to $53.00 and set a “hold” rating for the company in a research report on Thursday, July 25th. Stephens reduced their price target on Chipotle Mexican Grill from $64.00 to $61.00 and set an “equal weight” rating on the stock in a report on Thursday, July 25th. Finally, Oppenheimer dropped their price objective on shares of Chipotle Mexican Grill from $70.00 to $65.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Eleven investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $62.88.

Chipotle Mexican Grill Price Performance

The firm has a market capitalization of $71.11 billion, a price-to-earnings ratio of 55.26, a PEG ratio of 2.23 and a beta of 1.24. The business’s fifty day simple moving average is $124.32 and its 200 day simple moving average is $80.26.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 EPS for the quarter, beating the consensus estimate of $0.32 by $0.02. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.94 billion. Chipotle Mexican Grill had a return on equity of 44.01% and a net margin of 13.23%. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period last year, the business posted $12.65 EPS. Equities research analysts expect that Chipotle Mexican Grill, Inc. will post 1.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Byrne Asset Management LLC increased its holdings in Chipotle Mexican Grill by 11.8% during the 1st quarter. Byrne Asset Management LLC now owns 38 shares of the restaurant operator’s stock worth $110,000 after purchasing an additional 4 shares in the last quarter. Evermay Wealth Management LLC raised its position in Chipotle Mexican Grill by 1.8% in the 4th quarter. Evermay Wealth Management LLC now owns 231 shares of the restaurant operator’s stock valued at $528,000 after buying an additional 4 shares during the last quarter. Peloton Wealth Strategists raised its position in Chipotle Mexican Grill by 0.3% in the 4th quarter. Peloton Wealth Strategists now owns 1,451 shares of the restaurant operator’s stock valued at $3,318,000 after buying an additional 4 shares during the last quarter. Hazlett Burt & Watson Inc. lifted its stake in Chipotle Mexican Grill by 19.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 25 shares of the restaurant operator’s stock valued at $73,000 after acquiring an additional 4 shares in the last quarter. Finally, Diversified Trust Co boosted its holdings in Chipotle Mexican Grill by 0.9% during the 1st quarter. Diversified Trust Co now owns 474 shares of the restaurant operator’s stock worth $1,378,000 after acquiring an additional 4 shares during the last quarter. 91.31% of the stock is owned by institutional investors.

About Chipotle Mexican Grill

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.