Chipotle Mexican Grill (NYSE:CMG) Hits New 52-Week Low - Here's What Happened

Chipotle Mexican Grill, Inc. (NYSE:CMG - Get Free Report)'s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $49.13 and last traded at $50.50, with a volume of 13748063 shares traded. The stock had previously closed at $50.65.

Wall Street Analyst Weigh In

CMG has been the subject of a number of analyst reports. Royal Bank of Canada dropped their price objective on Chipotle Mexican Grill from $65.00 to $60.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Sanford C. Bernstein reissued an "outperform" rating and set a $70.00 price target on shares of Chipotle Mexican Grill in a research report on Tuesday, January 28th. Robert W. Baird cut their price target on shares of Chipotle Mexican Grill from $62.00 to $56.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Argus downgraded shares of Chipotle Mexican Grill from a "buy" rating to a "hold" rating in a research note on Monday, April 28th. Finally, KeyCorp cut their target price on Chipotle Mexican Grill from $60.00 to $58.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Nine research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.74.

Chipotle Mexican Grill Stock Up 1.1 %

The stock has a market capitalization of $68.15 billion, a PE ratio of 45.57, a PEG ratio of 2.04 and a beta of 1.11. The firm's fifty day moving average price is $49.88 and its two-hundred day moving average price is $55.90.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The restaurant operator reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.01. Chipotle Mexican Grill had a net margin of 13.56% and a return on equity of 42.92%. The business had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same period in the previous year, the business earned $13.37 EPS. The company's quarterly revenue was up 6.4% compared to the same quarter last year. As a group, analysts predict that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current year.

Institutional Investors Weigh In On Chipotle Mexican Grill

A number of large investors have recently made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in Chipotle Mexican Grill by 24.9% during the third quarter. Principal Financial Group Inc. now owns 2,095,508 shares of the restaurant operator's stock valued at $120,743,000 after buying an additional 417,770 shares during the last quarter. CWA Asset Management Group LLC raised its holdings in Chipotle Mexican Grill by 50.0% in the 4th quarter. CWA Asset Management Group LLC now owns 18,734 shares of the restaurant operator's stock worth $1,130,000 after purchasing an additional 6,248 shares during the period. Boltwood Capital Management lifted its position in Chipotle Mexican Grill by 8.8% during the fourth quarter. Boltwood Capital Management now owns 13,025 shares of the restaurant operator's stock valued at $785,000 after purchasing an additional 1,050 shares in the last quarter. Kozak & Associates Inc. grew its holdings in Chipotle Mexican Grill by 11.5% during the fourth quarter. Kozak & Associates Inc. now owns 6,912 shares of the restaurant operator's stock valued at $413,000 after purchasing an additional 712 shares during the period. Finally, Legacy Private Trust Co. increased its position in Chipotle Mexican Grill by 2.1% in the fourth quarter. Legacy Private Trust Co. now owns 40,171 shares of the restaurant operator's stock worth $2,422,000 after buying an additional 819 shares in the last quarter. 91.31% of the stock is currently 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.