Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG – Get Free Report) fell 0.3% during mid-day trading on Wednesday 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 $56.82 and last traded at $57.33. 5,739,716 shares traded hands during trading, a decline of 58% from the average session volume of 13,569,786 shares. The stock had previously closed at $57.48.
Several other brokerages have also recently weighed in on CMG. Deutsche Bank Aktiengesellschaft raised their price target on shares of Chipotle Mexican Grill from $68.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Robert W. Baird lifted their target price on shares of Chipotle Mexican Grill from $70.00 to $74.00 and gave the stock an “outperform” rating in a research report on Thursday, June 27th. Wedbush reissued a “neutral” rating and set a $64.00 target price on shares of Chipotle Mexican Grill in a research report on Monday, June 17th. Oppenheimer lifted their target price on shares of Chipotle Mexican Grill from $66.00 to $69.70 and gave the stock an “outperform” rating in a research report on Wednesday, May 22nd. Finally, Morgan Stanley lifted their target price on shares of Chipotle Mexican Grill from $59.72 to $62.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $175.16.
Insider Transactions at Chipotle Mexican Grill
In other news, CEO Brian R. Niccol sold 320,300 shares of Chipotle Mexican Grill stock in a transaction on Friday, April 26th. The shares were sold at an average price of $63.72, for a total transaction of $20,409,003.52. Following the completion of the sale, the chief executive officer now directly owns 1,133,450 shares of the company’s stock, valued at approximately $72,221,620.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Brian R. Niccol sold 320,300 shares of Chipotle Mexican Grill stock in a transaction on Friday, April 26th. The shares were sold at an average price of $63.72, for a total transaction of $20,409,003.52. Following the completion of the sale, the chief executive officer now directly owns 1,133,450 shares of the company’s stock, valued at approximately $72,221,620.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Scott Boatwright sold 55,000 shares of Chipotle Mexican Grill stock in a transaction on Friday, April 26th. The stock was sold at an average price of $63.80, for a total transaction of $3,509,176.00. Following the sale, the chief operating officer now directly owns 120,600 shares of the company’s stock, valued at $7,694,665.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 550,750 shares of company stock valued at $35,023,769. Insiders own 1.02% of the company’s stock.
Institutional Trading of Chipotle Mexican Grill
Several hedge funds have recently added to or reduced their stakes in the business. Csenge Advisory Group lifted its stake in Chipotle Mexican Grill by 6,234.0% in the second quarter. Csenge Advisory Group now owns 6,334 shares of the restaurant operator’s stock worth $397,000 after purchasing an additional 6,234 shares during the last quarter. Fortitude Family Office LLC increased its position in shares of Chipotle Mexican Grill by 6,685.7% in the second quarter. Fortitude Family Office LLC now owns 950 shares of the restaurant operator’s stock valued at $60,000 after acquiring an additional 936 shares during the period. Simplicity Wealth LLC increased its position in shares of Chipotle Mexican Grill by 4,974.8% in the second quarter. Simplicity Wealth LLC now owns 42,882 shares of the restaurant operator’s stock valued at $2,687,000 after acquiring an additional 42,037 shares during the period. Valeo Financial Advisors LLC increased its position in shares of Chipotle Mexican Grill by 4,747.7% in the second quarter. Valeo Financial Advisors LLC now owns 20,409 shares of the restaurant operator’s stock valued at $1,279,000 after acquiring an additional 19,988 shares during the period. Finally, Contravisory Investment Management Inc. increased its position in shares of Chipotle Mexican Grill by 4,594.9% in the second quarter. Contravisory Investment Management Inc. now owns 181,692 shares of the restaurant operator’s stock valued at $11,383,000 after acquiring an additional 177,822 shares during the period. 91.31% of the stock is owned by institutional investors.
Chipotle Mexican Grill Stock Up 1.4 %
The business’s 50-day simple moving average is $127.74 and its 200-day simple moving average is $79.16. The stock has a market cap of $80.07 billion, a PE ratio of 62.09, a PEG ratio of 2.37 and a beta of 1.24.
Chipotle Mexican Grill (NYSE:CMG – Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.04. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 43.74%. The firm had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.67 billion. As a group, equities research analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.11 earnings per share for the current fiscal year.
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.