Chipotle Mexican Grill (NYSE:CMG) Trading Down 1.1% - Here's What Happened

Key Points

• Chipotle Mexican Grill's stock fell by 1.1% during Thursday's trading, with a last traded price of $42.18, significantly decreasing from an average daily volume of over 14 million shares to 3.8 million.
• Analysts have varied opinions on Chipotle, with ratings ranging from "Strong Buy" to "Hold" and a consensus target price of $60.22, indicating potential growth despite mixed performance reports.
• Chipotle's quarterly earnings report showed an EPS of $0.33, slightly exceeding estimates, but revenue fell short of expectations at $3.06 billion, marking a 3% increase compared to the previous year.

Chipotle Mexican Grill, Inc. (NYSE:CMG - Get Free Report) was down 1.1% during trading on Thursday . The company traded as low as $42.02 and last traded at $42.18. Approximately 3,805,951 shares traded hands during trading, a decline of 73% from the average daily volume of 14,132,100 shares. The stock had previously closed at $42.65.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CMG shares. UBS Group increased their price target on shares of Chipotle Mexican Grill from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Robert W. Baird cut their target price on shares of Chipotle Mexican Grill from $62.00 to $59.00 and set an "outperform" rating on the stock in a report on Thursday, July 24th. Melius started coverage on shares of Chipotle Mexican Grill in a report on Monday, July 14th. They issued a "hold" rating and a $60.00 target price on the stock. Guggenheim cut their target price on shares of Chipotle Mexican Grill from $47.00 to $46.00 and set a "neutral" rating on the stock in a report on Friday, July 25th. Finally, Raymond James Financial cut their target price on shares of Chipotle Mexican Grill from $60.00 to $56.00 and set an "outperform" rating on the stock in a report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $60.22.

Chipotle Mexican Grill Price Performance

The firm has a market cap of $56.63 billion, a PE ratio of 37.70, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05. The firm has a 50-day simple moving average of $49.04 and a 200 day simple moving average of $50.32.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate 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%.Chipotle Mexican Grill's quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 EPS. Sell-side analysts forecast that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Roger E. Theodoredis sold 113,875 shares of Chipotle Mexican Grill stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $49.70, for a total value of $5,659,587.50. Following the completion of the transaction, the insider owned 109,815 shares of the company's stock, valued at $5,457,805.50. The trade was a 50.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.81% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of hedge funds have recently bought and sold shares of CMG. Charles Schwab Investment Management Inc. grew its stake in shares of Chipotle Mexican Grill by 5.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,979,637 shares of the restaurant operator's stock valued at $450,868,000 after purchasing an additional 491,002 shares during the period. Corient IA LLC bought a new stake in shares of Chipotle Mexican Grill during the 1st quarter valued at about $753,000. Banco Santander S.A. grew its stake in shares of Chipotle Mexican Grill by 47.6% during the 1st quarter. Banco Santander S.A. now owns 31,764 shares of the restaurant operator's stock valued at $1,595,000 after purchasing an additional 10,246 shares during the period. Community Trust & Investment Co. bought a new stake in shares of Chipotle Mexican Grill during the 1st quarter valued at about $7,773,000. Finally, LPL Financial LLC grew its stake in shares of Chipotle Mexican Grill by 4.3% during the 1st quarter. LPL Financial LLC now owns 1,276,359 shares of the restaurant operator's stock valued at $64,086,000 after purchasing an additional 52,937 shares during the period. Hedge funds and other institutional investors own 91.30% of the company's stock.

Chipotle Mexican Grill Company Profile

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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