Chipotle Mexican Grill (NYSE:CMG) Stock Falls 6.3% – Here’s Why

Chipotle Mexican Grill, Inc. (NYSE:CMG)’s stock price traded down 6.3% on Monday. The stock traded as low as $30.84 and last traded at $30.3160. Approximately 3,124,482 shares were traded during trading, a decline of 82% from the average daily volume of 17,299,172 shares. The stock had previously closed at $32.36.

Analyst Ratings Changes

Several research analysts have commented on the stock. Weiss Ratings raised shares of Chipotle Mexican Grill from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, August 7th. DA Davidson raised their target price on shares of Chipotle Mexican Grill from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Argus raised their target price on shares of Chipotle Mexican Grill from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Morgan Stanley lifted their price target on shares of Chipotle Mexican Grill from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Finally, Guggenheim reissued a “neutral” rating and issued a $36.00 price objective (up from $35.00) on shares of Chipotle Mexican Grill in a research report on Friday, July 31st. Twenty-three research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $43.91.

Chipotle Mexican Grill Trading Up 0.1%

The company has a market cap of $39.09 billion, a PE ratio of 28.34, a P/E/G ratio of 1.89 and a beta of 0.96. The company’s 50 day moving average is $34.69 and its 200 day moving average is $33.57.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The company had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.33 billion. Chipotle Mexican Grill had a net margin of 11.43% and a return on equity of 54.65%. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the business posted $0.33 EPS. Analysts expect that Chipotle Mexican Grill, Inc. will post 1.14 EPS for the current year.

Insider Buying and Selling at Chipotle Mexican Grill

In related news, insider Matthew R. Bush sold 2,675 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $35.75, for a total value of $95,631.25. Following the completion of the sale, the insider owned 21,415 shares in the company, valued at approximately $765,586.25. The trade was a 11.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.45% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. EP Wealth Advisors LLC acquired a new stake in Chipotle Mexican Grill in the 2nd quarter worth approximately $948,000. Callan Family Office LLC acquired a new position in Chipotle Mexican Grill during the 2nd quarter valued at approximately $1,406,000. MassMutual Private Wealth & Trust FSB increased its stake in Chipotle Mexican Grill by 7,051.6% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 243,726 shares of the restaurant operator’s stock valued at $7,787,000 after purchasing an additional 240,318 shares in the last quarter. Park National Corp OH raised its holdings in shares of Chipotle Mexican Grill by 442.1% in the third quarter. Park National Corp OH now owns 309,327 shares of the restaurant operator’s stock worth $9,883,000 after buying an additional 252,265 shares during the last quarter. Finally, PensionDanmark Pensionsforsikringsaktieselskab raised its holdings in shares of Chipotle Mexican Grill by 40.2% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 268,771 shares of the restaurant operator’s stock worth $9,138,000 after buying an additional 77,002 shares during the last quarter. 91.30% of the stock is currently owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc is a fast-casual restaurant company that specializes in Mexican-inspired food made with a limited number of core ingredients. Its menu includes burritos, burrito bowls, tacos, quesadillas, salads and sides, with options such as chicken, steak, barbacoa, carnitas, sofritas and vegetables. The company also offers beverages, including soft drinks and other drinks, and allows customers to customize meals.

Founded by Steve Ells in 1993, Chipotle operates company-owned restaurants under the Chipotle Mexican Grill brand.