Chipotle Mexican Grill (NYSE:CMG) Trading Down 1.5% After Analyst Downgrade

Chipotle Mexican Grill, Inc. (NYSE:CMGGet Free Report)’s stock price fell 1.5% on Tuesday after KeyCorp lowered their price target on the stock from $3,400.00 to $68.00. KeyCorp currently has an overweight rating on the stock. Chipotle Mexican Grill traded as low as $58.47 and last traded at $58.60. 6,200,845 shares changed hands during trading, a decline of 54% from the average session volume of 13,479,007 shares. The stock had previously closed at $59.51.

A number of other research analysts also recently weighed in on CMG. Wells Fargo & Company raised their target price on shares of Chipotle Mexican Grill from $65.70 to $66.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. TD Cowen lowered their target price on Chipotle Mexican Grill from $3,600.00 to $72.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Sanford C. Bernstein increased their price target on Chipotle Mexican Grill from $56.00 to $64.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. UBS Group boosted their price target on Chipotle Mexican Grill from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Finally, Stephens upped their price objective on Chipotle Mexican Grill from $60.20 to $61.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 25th. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Chipotle Mexican Grill presently has an average rating of “Moderate Buy” and a consensus target price of $64.46.

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Insider Buying and Selling at Chipotle Mexican Grill

In other news, CEO Brian R. Niccol sold 320,300 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $63.72, for a total value of $20,409,003.52. Following the completion of the sale, the chief executive officer now owns 1,133,450 shares of the company’s stock, valued at $72,221,620.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Brian R. Niccol sold 320,300 shares of Chipotle Mexican Grill stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $63.72, for a total value of $20,409,003.52. Following the completion of the sale, the chief executive officer now directly owns 1,133,450 shares in the company, valued at $72,221,620.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Scott Boatwright sold 55,000 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $63.80, for a total value of $3,509,176.00. Following the completion of the sale, the chief operating officer now owns 120,600 shares of the company’s stock, valued at $7,694,665.92. The disclosure for this sale can be found here. Insiders have sold a total of 550,750 shares of company stock valued at $35,023,769 in the last ninety days. 1.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Chipotle Mexican Grill by 0.9% during the first quarter. Vanguard Group Inc. now owns 2,732,471 shares of the restaurant operator’s stock valued at $7,942,665,000 after purchasing an additional 25,238 shares in the last quarter. Capital World Investors raised its stake in Chipotle Mexican Grill by 0.8% during the fourth quarter. Capital World Investors now owns 1,125,974 shares of the restaurant operator’s stock worth $2,575,057,000 after buying an additional 8,541 shares during the last quarter. American Century Companies Inc. lifted its holdings in Chipotle Mexican Grill by 3.5% in the third quarter. American Century Companies Inc. now owns 399,902 shares of the restaurant operator’s stock valued at $732,552,000 after buying an additional 13,482 shares during the period. Wellington Management Group LLP boosted its position in Chipotle Mexican Grill by 41.6% during the third quarter. Wellington Management Group LLP now owns 397,182 shares of the restaurant operator’s stock valued at $727,570,000 after acquiring an additional 116,723 shares during the last quarter. Finally, Norges Bank acquired a new stake in Chipotle Mexican Grill during the 4th quarter worth about $805,529,000. Institutional investors and hedge funds own 91.31% of the company’s stock.

Chipotle Mexican Grill Trading Down 3.4 %

The stock has a market capitalization of $78.95 billion, a P/E ratio of 61.34, a price-to-earnings-growth ratio of 2.50 and a beta of 1.24. The company has a 50-day moving average price of $127.74 and a two-hundred day moving average price of $79.16.

Chipotle Mexican Grill (NYSE:CMGGet Free Report) last issued its earnings results on Wednesday, April 24th. The restaurant operator reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. Chipotle Mexican Grill had a return on equity of 43.74% and a net margin of 12.70%. The business had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.67 billion. Research analysts forecast that Chipotle Mexican Grill, Inc. will post 1.11 earnings per share for the current year.

Chipotle Mexican Grill Company Profile

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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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