Chipotle Mexican Grill (NYSE:CMG) Shares Down 1.8% - What's Next?

Key Points

• Chipotle Mexican Grill shares dropped by 1.8% to $42.85, with a significant decline in trading volume of 78% compared to its average.
• Analysts have mixed views, with targets set between $46.00 and $68.00, leading to a consensus rating of "Moderate Buy" and an average target of $60.22.
• The company reported earnings of $0.33 per share, slightly above expectations, but revenue of $3.06 billion was below the consensus estimate of $3.11 billion.

Chipotle Mexican Grill, Inc. (NYSE:CMG - Get Free Report)'s stock price dropped 1.8% on Monday . The company traded as low as $42.81 and last traded at $42.85. Approximately 3,084,713 shares traded hands during trading, a decline of 78% from the average daily volume of 14,119,003 shares. The stock had previously closed at $43.64.

Analyst Upgrades and Downgrades

CMG has been the topic of a number of recent analyst reports. Guggenheim cut their price target on shares of Chipotle Mexican Grill from $47.00 to $46.00 and set a "neutral" rating on the stock in a research note on Friday, July 25th. KeyCorp cut their target price on shares of Chipotle Mexican Grill from $60.00 to $58.00 and set an "overweight" rating on the stock in a research note on Thursday, July 24th. Argus downgraded shares of Chipotle Mexican Grill from a "buy" rating to a "hold" rating in a research note on Monday, April 28th. Citigroup cut their target price on shares of Chipotle Mexican Grill from $68.00 to $62.00 and set a "buy" rating on the stock in a research note on Thursday, July 24th. Finally, UBS Group raised their target price on shares of Chipotle Mexican Grill from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $60.22.

Chipotle Mexican Grill Stock Performance

The company's fifty day moving average price is $49.60 and its 200 day moving average price is $50.53. The firm has a market capitalization of $57.28 billion, a price-to-earnings ratio of 38.15, a price-to-earnings-growth ratio of 2.22 and a beta of 1.05.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. Chipotle Mexican Grill had a net margin of 13.32% and a return on equity of 43.50%. The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same period last year, the firm posted $0.34 EPS. Chipotle Mexican Grill's quarterly revenue was up 3.0% compared to the same quarter last year. As a group, sell-side analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Roger E. Theodoredis sold 113,875 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $49.70, for a total transaction of $5,659,587.50. Following the transaction, the insider directly owned 109,815 shares of the company's stock, valued at approximately $5,457,805.50. The trade was a 50.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.02% of the company's stock.

Institutional Trading of Chipotle Mexican Grill

A number of institutional investors have recently added to or reduced their stakes in the business. Operose Advisors LLC acquired a new position in Chipotle Mexican Grill during the 2nd quarter valued at $25,000. Signature Resources Capital Management LLC acquired a new position in Chipotle Mexican Grill during the 2nd quarter valued at $28,000. Lavaca Capital LLC bought a new stake in Chipotle Mexican Grill in the 2nd quarter valued at $28,000. Cloud Capital Management LLC bought a new stake in Chipotle Mexican Grill in the 1st quarter valued at $25,000. Finally, Activest Wealth Management increased its holdings in Chipotle Mexican Grill by 109.3% in the 2nd quarter. Activest Wealth Management now owns 517 shares of the restaurant operator's stock valued at $29,000 after buying an additional 270 shares during the period. 91.30% of the stock is currently owned by institutional investors and hedge funds.

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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