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

Chipotle Mexican Grill, Inc. (NYSE:CMG) 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.

A number of other equities research analysts have also recently weighed in on the company. Piper Sandler raised their price target on Chipotle Mexican Grill from $59.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday. Truist Financial lifted their price target on Chipotle Mexican Grill from $71.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday. Barclays increased their price objective on shares of Chipotle Mexican Grill from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Wednesday. The Goldman Sachs Group dropped their target price on Chipotle Mexican Grill from $74.60 to $67.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Finally, TD Cowen upped their target price on shares of Chipotle Mexican Grill from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, Chipotle Mexican Grill currently has an average rating of “Moderate Buy” and a consensus price target of $64.47.

Insider Activity at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 15,750 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $57.05, for a total transaction of $898,537.50. Following the sale, the insider now directly owns 457,764 shares of the company’s stock, valued at $26,115,436.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Curtis E. Garner sold 17,394 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were 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 directly owns 358,300 shares in the company, valued at approximately $19,591,844. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Curtis E. Garner sold 15,750 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $57.05, for a total transaction of $898,537.50. Following the completion of the transaction, the insider now owns 457,764 shares in the company, valued at approximately $26,115,436.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,684 shares of company stock valued at $2,817,127. Corporate insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

Hedge funds and other institutional investors have recently made changes to their positions in the company. Shellback Capital LP raised its position in Chipotle Mexican Grill by 4,900.0% during the second quarter. Shellback Capital LP now owns 125,000 shares of the restaurant operator’s stock valued at $7,831,000 after purchasing an additional 122,500 shares in the last quarter. Swedbank AB acquired a new position in shares of Chipotle Mexican Grill during the 1st quarter worth $53,979,000. Pathway Financial Advisers LLC raised its holdings in shares of Chipotle Mexican Grill by 5,662.0% during the 3rd quarter. Pathway Financial Advisers LLC now owns 8,643 shares of the restaurant operator’s stock worth $498,000 after buying an additional 8,493 shares in the last quarter. Transform Wealth LLC lifted its position in shares of Chipotle Mexican Grill by 4,760.7% during the 2nd quarter. Transform Wealth LLC now owns 9,527 shares of the restaurant operator’s stock worth $597,000 after buying an additional 9,331 shares during the last quarter. Finally, First Hawaiian Bank boosted its stake in Chipotle Mexican Grill by 4,731.0% in the second quarter. First Hawaiian Bank now owns 17,150 shares of the restaurant operator’s stock valued at $1,074,000 after buying an additional 16,795 shares in the last quarter. 91.31% of the stock is currently owned by institutional investors and hedge funds.

Chipotle Mexican Grill Trading Up 0.1 %

The business’s 50 day moving average price is $57.18 and its two-hundred day moving average price is $81.14. The company has a market capitalization of $76.38 billion, a price-to-earnings ratio of 54.68, a P/E/G ratio of 2.41 and a beta of 1.25.

Chipotle Mexican Grill (NYSE:CMG) last released 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 net margin of 13.23% and a return on equity of 44.01%. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter last year, the firm earned $0.23 earnings per share. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. Analysts expect that Chipotle Mexican Grill, Inc. will post 1.08 EPS for the current 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.