Chipotle Mexican Grill (NYSE:CMG) Stock Price Down 1.2% - What's Next?

Key Points

• Chipotle Mexican Grill's stock price decreased by 1.2%, trading as low as $42.19 with significantly reduced volumes of 3.07 million shares during mid-day trading.
• Various research firms have adjusted their price targets for Chipotle, with Evercore ISI lowering it from $64.00 to $57.00, while BMO Capital Markets upgraded it to $65.00.
• The company's recent quarterly earnings exceeded expectations with a reported $0.33 EPS, although revenue fell short of estimates at $3.06 billion.

Chipotle Mexican Grill, Inc. (NYSE:CMG - Get Free Report)'s stock price fell 1.2% during mid-day trading on Friday . The company traded as low as $42.23 and last traded at $42.19. 3,075,942 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 13,884,681 shares. The stock had previously closed at $42.69.

Analyst Upgrades and Downgrades

CMG has been the subject of a number of research reports. Evercore ISI cut their target price on shares of Chipotle Mexican Grill from $64.00 to $57.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Robert W. Baird reduced their price objective on shares of Chipotle Mexican Grill from $62.00 to $59.00 and set an "outperform" rating for the company in a research note on Thursday, July 24th. BMO Capital Markets upgraded Chipotle Mexican Grill from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $56.00 to $65.00 in a research report on Friday, July 18th. Raymond James Financial reiterated an "outperform" rating and issued a $60.00 price target (down from $62.00) on shares of Chipotle Mexican Grill in a research report on Thursday, July 24th. Finally, Stephens reissued an "equal weight" rating and set a $60.00 price objective on shares of Chipotle Mexican Grill in a report on Thursday, July 24th. Nine research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $60.71.

Chipotle Mexican Grill Stock Down 2.6%

The company has a fifty day simple moving average of $51.39 and a 200-day simple moving average of $51.75. The firm has a market cap of $55.76 billion, a P/E ratio of 37.09, a price-to-earnings-growth ratio of 2.17 and a beta of 1.05.

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

Insider Buying and Selling at Chipotle Mexican Grill

In other news, insider Roger E. Theodoredis sold 113,875 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $49.70, for a total transaction of $5,659,587.50. Following the completion of the transaction, the insider directly owned 109,815 shares in the company, valued at approximately $5,457,805.50. This represents a 50.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.81% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CMG. Cloud Capital Management LLC bought a new position in shares of Chipotle Mexican Grill during the 1st quarter worth $25,000. Saudi Central Bank bought a new position in Chipotle Mexican Grill in the first quarter worth approximately $27,000. 1248 Management LLC purchased a new stake in Chipotle Mexican Grill during the first quarter worth $27,000. Signature Resources Capital Management LLC purchased a new stake in Chipotle Mexican Grill during the second quarter worth $28,000. Finally, HighMark Wealth Management LLC boosted its position in Chipotle Mexican Grill by 173.4% during the 1st quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator's stock valued at $29,000 after acquiring an additional 371 shares in the last quarter. Hedge funds and other institutional investors own 91.31% of the company's stock.

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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