Chipotle Mexican Grill (NYSE:CMG) Shares Gap Down to $55.87

Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) gapped down before the market opened on Tuesday . The stock had previously closed at $55.87, but opened at $50.79. Chipotle Mexican Grill shares last traded at $49.22, with a volume of 24,886,864 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CMG shares. Wedbush upgraded shares of Chipotle Mexican Grill from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $54.00 to $58.00 in a research report on Wednesday. Truist Financial reaffirmed a “buy” rating and issued a $69.00 price target on shares of Chipotle Mexican Grill in a report on Tuesday. The Goldman Sachs Group dropped their price objective on Chipotle Mexican Grill from $74.60 to $67.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. UBS Group upped their target price on Chipotle Mexican Grill from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Finally, Guggenheim increased their target price on Chipotle Mexican Grill from $54.50 to $55.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.36.

Chipotle Mexican Grill Price Performance

The business has a 50 day simple moving average of $122.94 and a 200 day simple moving average of $80.42. The company has a market capitalization of $70.92 billion, a price-to-earnings ratio of 54.94, a PEG ratio of 2.23 and a beta of 1.24.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.02. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.94 billion. Chipotle Mexican Grill had a return on equity of 44.01% and a net margin of 13.23%. Chipotle Mexican Grill’s revenue was up 18.2% compared to the same quarter last year. During the same period in the previous year, the company posted $12.65 EPS. On average, equities research analysts predict that Chipotle Mexican Grill, Inc. will post 1.09 EPS for the current year.

Insider Buying and Selling

In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 17,394 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $54.68, for a total transaction of $951,103.92. Following the sale, the insider now directly owns 358,300 shares in the company, valued at approximately $19,591,844. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.02% of the stock is owned by insiders.

Institutional Trading of Chipotle Mexican Grill

A number of large investors have recently modified their holdings of CMG. APG Asset Management N.V. increased its holdings in Chipotle Mexican Grill by 10,215.0% during the 2nd quarter. APG Asset Management N.V. now owns 346,997 shares of the restaurant operator’s stock worth $20,284,000 after purchasing an additional 343,633 shares during the period. AQR Capital Management LLC grew its position in shares of Chipotle Mexican Grill by 6,990.3% during the second quarter. AQR Capital Management LLC now owns 2,283,792 shares of the restaurant operator’s stock worth $143,080,000 after buying an additional 2,251,582 shares in the last quarter. Armistice Capital LLC purchased a new stake in shares of Chipotle Mexican Grill during the second quarter worth approximately $7,831,000. AXA S.A. raised its holdings in Chipotle Mexican Grill by 5,381.0% in the second quarter. AXA S.A. now owns 1,356,659 shares of the restaurant operator’s stock valued at $84,995,000 after acquiring an additional 1,331,907 shares in the last quarter. Finally, Alpha DNA Investment Management LLC raised its holdings in Chipotle Mexican Grill by 7,734.9% in the second quarter. Alpha DNA Investment Management LLC now owns 13,476 shares of the restaurant operator’s stock valued at $844,000 after acquiring an additional 13,304 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.