Chipotle Mexican Grill (NYSE:CMG) Trading Down 6.4% Following Analyst Downgrade

Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) dropped 6.4% during trading on Wednesday after Citigroup lowered their price target on the stock from $71.00 to $70.00. Citigroup currently has a buy rating on the stock. Chipotle Mexican Grill traded as low as $55.95 and last traded at $56.59. Approximately 10,912,419 shares traded hands during trading, a decline of 22% from the average daily volume of 13,917,833 shares. The stock had previously closed at $60.49.

Other equities research analysts have also recently issued research reports about the company. Stifel Nicolaus reissued a “buy” rating and set a $70.00 target price on shares of Chipotle Mexican Grill in a report on Wednesday, August 14th. Truist Financial upped their price objective on Chipotle Mexican Grill from $71.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday. Guggenheim lifted their target price on Chipotle Mexican Grill from $54.50 to $55.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. TD Cowen boosted their price target on shares of Chipotle Mexican Grill from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Wells Fargo & Company raised their price objective on shares of Chipotle Mexican Grill from $66.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, Chipotle Mexican Grill 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, Director Robin S. Hickenlooper sold 1,790 shares of the 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 owns 41,510 shares in the company, valued at $2,340,333.80. 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. In related news, Director Robin S. Hickenlooper sold 1,790 shares of Chipotle Mexican Grill stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $56.38, for a total value of $100,920.20. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Curtis E. Garner sold 17,394 shares of Chipotle Mexican Grill stock in a transaction on 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 transaction, the insider now owns 358,300 shares in the company, valued at approximately $19,591,844. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,684 shares of company stock worth $2,817,127 in the last ninety days. 1.02% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CMG. Thurston Springer Miller Herd & Titak Inc. bought a new position in Chipotle Mexican Grill during the 2nd quarter worth $25,000. Riverview Trust Co boosted its position in Chipotle Mexican Grill by 4,900.0% during the second quarter. Riverview Trust Co now owns 400 shares of the restaurant operator’s stock valued at $25,000 after acquiring an additional 392 shares during the last quarter. RiverPark Advisors LLC grew its holdings in Chipotle Mexican Grill by 4,900.0% during the 2nd quarter. RiverPark Advisors LLC now owns 400 shares of the restaurant operator’s stock worth $25,000 after acquiring an additional 392 shares during the period. Archer Investment Corp bought a new position in shares of Chipotle Mexican Grill in the 2nd quarter worth about $25,000. Finally, Oliver Lagore Vanvalin Investment Group lifted its stake in shares of Chipotle Mexican Grill by 4,900.0% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 392 shares during the period. Institutional investors own 91.31% of the company’s stock.

Chipotle Mexican Grill Trading Down 7.8 %

The firm has a 50-day moving average of $57.14 and a 200 day moving average of $81.32. The company has a market cap of $76.36 billion, a P/E ratio of 54.67, a price-to-earnings-growth ratio of 2.41 and a beta of 1.25.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.27 EPS for the quarter, beating the consensus estimate of $0.25 by $0.02. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. Chipotle Mexican Grill had a return on equity of 44.01% and a net margin of 13.23%. The company’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.23 earnings per share. On average, equities analysts predict that Chipotle Mexican Grill, Inc. will post 1.08 EPS for the current year.

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.