Chipotle Mexican Grill (NYSE:CMG) Stock Price Down 6.4% After Analyst Downgrade

Chipotle Mexican Grill, Inc. (NYSE:CMG - Get Free Report)'s share price fell 6.4% on Wednesday after Stephens lowered their price target on the stock from $66.00 to $65.00. Stephens currently has an equal weight rating on the stock. Chipotle Mexican Grill traded as low as $55.95 and last traded at $56.59. 10,912,419 shares changed hands during trading, a decline of 22% from the average session volume of 13,917,833 shares. The stock had previously closed at $60.49.

Several other research firms have also weighed in on CMG. KeyCorp reduced their price objective on Chipotle Mexican Grill from $68.00 to $66.00 and set an "overweight" rating on the stock in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $67.00 price objective on shares of Chipotle Mexican Grill in a research report on Wednesday, August 14th. Citigroup raised their target price on shares of Chipotle Mexican Grill from $69.00 to $71.00 and gave the company a "buy" rating in a research report on Wednesday, October 2nd. Wedbush reiterated an "outperform" rating and set a $58.00 price target on shares of Chipotle Mexican Grill in a report on Thursday, August 29th. Finally, Truist Financial raised 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. Ten equities research 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, Chipotle Mexican Grill presently has a consensus rating of "Moderate Buy" and an average target price of $63.99.

Insider Activity

In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 17,394 shares of the firm's 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Curtis E. Garner sold 17,394 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $54.68, for a total transaction of $951,103.92. Following the transaction, the insider now owns 358,300 shares of the company's stock, valued at $19,591,844. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robin S. Hickenlooper sold 1,790 shares of the firm's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $56.38, for a total value of $100,920.20. Following the completion of the sale, the director now owns 41,510 shares of the company's stock, valued at approximately $2,340,333.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,684 shares of company stock worth $2,817,127 in the last quarter. 1.02% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of institutional investors have recently modified their holdings of the company. Semmax Financial Advisors Inc. raised its holdings in Chipotle Mexican Grill by 225.0% during the first quarter. Semmax Financial Advisors Inc. now owns 13 shares of the restaurant operator's stock worth $42,000 after buying an additional 9 shares during the last quarter. Crewe Advisors LLC purchased a new stake in shares of Chipotle Mexican Grill in the first quarter valued at about $44,000. Westside Investment Management Inc. purchased a new stake in shares of Chipotle Mexican Grill in the first quarter valued at about $58,000. Valley National Advisers Inc. lifted its position in shares of Chipotle Mexican Grill by 9.8% during the 1st quarter. Valley National Advisers Inc. now owns 45 shares of the restaurant operator's stock worth $131,000 after buying an additional 4 shares in the last quarter. Finally, LRI Investments LLC purchased a new position in shares of Chipotle Mexican Grill in the 1st quarter worth approximately $168,000. 91.31% of the stock is owned by institutional investors and hedge funds.

Chipotle Mexican Grill Price Performance

The company has a market capitalization of $76.75 billion, a P/E ratio of 55.03, a price-to-earnings-growth ratio of 2.41 and a beta of 1.25. The firm has a fifty day moving average price of $57.10 and a 200-day moving average price of $81.50.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business's revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 EPS. On average, research analysts forecast 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.

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