Chipotle Mexican Grill (NYSE:CMG) Trading Down 0.6%

Chipotle Mexican Grill, Inc. (NYSE:CMGGet Free Report)’s stock price dropped 0.6% during mid-day trading on Friday . The company traded as low as $3,237.29 and last traded at $3,245.79. Approximately 56,852 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 242,889 shares. The stock had previously closed at $3,265.26.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CMG. Argus lifted their price target on shares of Chipotle Mexican Grill from $3,265.00 to $3,366.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. raised their target price on shares of Chipotle Mexican Grill from $2,750.00 to $3,000.00 and gave the company a “neutral” rating in a research note on Monday, June 3rd. Stifel Nicolaus raised their price objective on Chipotle Mexican Grill from $2,700.00 to $3,270.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Jefferies Financial Group lifted their price target on Chipotle Mexican Grill from $2,350.00 to $2,700.00 and gave the stock a “hold” rating in a research note on Tuesday, April 16th. Finally, Wedbush reissued a “neutral” rating and set a $3,200.00 price objective on shares of Chipotle Mexican Grill in a research note on Monday, May 20th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $3,181.85.

Check Out Our Latest Research Report on CMG

Chipotle Mexican Grill Price Performance

The company’s 50 day moving average price is $3,095.19 and its two-hundred day moving average price is $2,701.71. The stock has a market capitalization of $89.36 billion, a PE ratio of 69.30, a P/E/G ratio of 2.52 and a beta of 1.25.

Chipotle Mexican Grill shares are scheduled to split on Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly issued shares will be issued to shareholders after the closing bell on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMGGet Free Report) last issued its earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 EPS for the quarter, topping analysts’ consensus estimates of $11.63 by $1.74. The firm had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.67 billion. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 43.74%. Analysts forecast that Chipotle Mexican Grill, Inc. will post 55.3 earnings per share for the current year.

Insider Transactions at Chipotle Mexican Grill

In related news, insider Christopher W. Brandt sold 3,149 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $2,927.84, for a total value of $9,219,768.16. Following the transaction, the insider now owns 8,563 shares in the company, valued at approximately $25,071,093.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Chipotle Mexican Grill news, insider Christopher W. Brandt sold 3,149 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $2,927.84, for a total transaction of $9,219,768.16. Following the completion of the transaction, the insider now owns 8,563 shares in the company, valued at approximately $25,071,093.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Albert S. Baldocchi sold 1,000 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $3,166.01, for a total transaction of $3,166,010.00. Following the transaction, the director now directly owns 27,250 shares of the company’s stock, valued at $86,273,772.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,164 shares of company stock worth $44,243,538. Company insiders own 1.02% of the company’s stock.

Institutional Investors Weigh In On Chipotle Mexican Grill

A number of large investors have recently modified their holdings of CMG. Northern Trust Corp boosted its stake in Chipotle Mexican Grill by 5.0% in the third quarter. Northern Trust Corp now owns 283,203 shares of the restaurant operator’s stock valued at $518,780,000 after acquiring an additional 13,513 shares during the period. Covestor Ltd boosted its stake in shares of Chipotle Mexican Grill by 9.2% during the 3rd quarter. Covestor Ltd now owns 95 shares of the restaurant operator’s stock valued at $174,000 after buying an additional 8 shares during the period. Laidlaw Wealth Management LLC raised its position in Chipotle Mexican Grill by 69.8% during the third quarter. Laidlaw Wealth Management LLC now owns 270 shares of the restaurant operator’s stock valued at $495,000 after acquiring an additional 111 shares in the last quarter. Clearstead Advisors LLC boosted its holdings in Chipotle Mexican Grill by 0.7% in the third quarter. Clearstead Advisors LLC now owns 773 shares of the restaurant operator’s stock worth $1,416,000 after purchasing an additional 5 shares in the last quarter. Finally, Korea Investment CORP lifted its stake in shares of Chipotle Mexican Grill by 14.0% in the third quarter. Korea Investment CORP now owns 15,618 shares of the restaurant operator’s stock worth $28,610,000 after buying an additional 1,912 shares during the last quarter. Institutional investors and hedge funds own 91.31% of the company’s stock.

About Chipotle Mexican Grill

(Get Free Report)

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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