Chipotle Mexican Grill (NYSE:CMG) Stock Price Down 3.8%

Chipotle Mexican Grill, Inc. (NYSE:CMG)’s share price fell 3.8% during trading on Friday . The company traded as low as $51.16 and last traded at $51.41. 3,765,253 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 14,376,579 shares. The stock had previously closed at $53.46.

Wall Street Analyst Weigh In

A number of analysts recently commented on CMG shares. Guggenheim lifted their target price on shares of Chipotle Mexican Grill from $54.50 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Wells Fargo & Company increased their price target on shares of Chipotle Mexican Grill from $65.70 to $66.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Barclays decreased their price objective on shares of Chipotle Mexican Grill from $58.00 to $55.00 and set an “equal weight” rating for the company in a research note on Thursday, July 25th. BTIG Research increased their price target on Chipotle Mexican Grill from $65.00 to $67.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Finally, Morgan Stanley boosted their price objective on Chipotle Mexican Grill from $59.72 to $62.00 and gave the company an “equal weight” rating in a report on Thursday, April 25th. Eleven analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $62.88.

Chipotle Mexican Grill Stock Performance

The company has a market capitalization of $72.20 billion, a PE ratio of 54.86, a price-to-earnings-growth ratio of 2.26 and a beta of 1.24. The stock’s fifty day simple moving average is $124.53 and its 200-day simple moving average is $79.73.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly 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. Chipotle Mexican Grill had a return on equity of 44.01% and a net margin of 13.23%. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the previous year, the firm posted $12.65 EPS. Chipotle Mexican Grill’s revenue was up 18.2% on a year-over-year basis. On average, equities analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.09 EPS for the current year.

Hedge Funds Weigh In On Chipotle Mexican Grill

Large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its stake in shares of Chipotle Mexican Grill by 4,816.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,356,173 shares of the restaurant operator’s stock valued at $523,514,000 after purchasing an additional 8,186,198 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Chipotle Mexican Grill by 4,260.5% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,132,332 shares of the restaurant operator’s stock valued at $196,241,000 after purchasing an additional 3,060,498 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Chipotle Mexican Grill by 3,988.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,996,492 shares of the restaurant operator’s stock valued at $187,730,000 after purchasing an additional 2,923,203 shares during the period. Rhumbline Advisers grew its holdings in Chipotle Mexican Grill by 4,947.9% during the 2nd quarter. Rhumbline Advisers now owns 2,633,801 shares of the restaurant operator’s stock valued at $165,008,000 after purchasing an additional 2,581,625 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Chipotle Mexican Grill by 4,537.6% in the 2nd quarter. Principal Financial Group Inc. now owns 1,677,738 shares of the restaurant operator’s stock worth $105,110,000 after buying an additional 1,641,561 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.