Chipotle Mexican Grill (NYSE:CMG) Shares Down 0.4% After Insider Selling

Chipotle Mexican Grill, Inc. (NYSE:CMG) shares traded down 0.4% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $57.66 and last traded at $57.74. 1,232,110 shares changed hands during trading, a decline of 91% from the average session volume of 14,294,190 shares. The stock had previously closed at $57.98.

Specifically, insider Curtis E. Garner sold 15,750 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $57.05, for a total transaction of $898,537.50. Following the completion of the transaction, the insider now directly owns 457,764 shares of the company’s stock, valued at approximately $26,115,436.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CMG shares. Truist Financial reaffirmed a “buy” rating and issued a $69.00 target price on shares of Chipotle Mexican Grill in a research report on Tuesday, August 13th. Loop Capital dropped their price objective on shares of Chipotle Mexican Grill from $58.00 to $53.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. Barclays reduced their target price 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. Oppenheimer restated an “outperform” rating and issued a $65.00 price target on shares of Chipotle Mexican Grill in a research note on Monday, September 30th. Finally, Piper Sandler reduced their price objective on Chipotle Mexican Grill from $61.00 to $56.00 and set a “neutral” rating for the company in a research report on Thursday, July 25th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, Chipotle Mexican Grill presently has an average rating of “Moderate Buy” and an average price target of $62.44.

Chipotle Mexican Grill Price Performance

The firm’s fifty day simple moving average is $55.31 and its 200 day simple moving average is $81.40. The company has a market capitalization of $79.30 billion, a price-to-earnings ratio of 61.43, a PEG ratio of 2.43 and a beta of 1.25.

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 analysts’ consensus estimates of $0.32 by $0.02. The business had revenue of $2.97 billion for 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 for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $12.65 earnings per share. Equities research analysts forecast that Chipotle Mexican Grill, Inc. will post 1.08 earnings per share for the current fiscal year.

Institutional Trading of Chipotle Mexican Grill

A number of hedge funds have recently made changes to their positions in CMG. Peloton Wealth Strategists grew its holdings in shares of Chipotle Mexican Grill by 0.3% during the 4th quarter. Peloton Wealth Strategists now owns 1,451 shares of the restaurant operator’s stock valued at $3,318,000 after acquiring an additional 4 shares in the last quarter. Hazlett Burt & Watson Inc. grew its stake in Chipotle Mexican Grill by 19.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 25 shares of the restaurant operator’s stock valued at $73,000 after purchasing an additional 4 shares in the last quarter. Diversified Trust Co increased its position in Chipotle Mexican Grill by 0.9% in the 1st quarter. Diversified Trust Co now owns 474 shares of the restaurant operator’s stock worth $1,378,000 after purchasing an additional 4 shares during the last quarter. Valley National Advisers Inc. raised its stake in shares of Chipotle Mexican Grill by 9.8% during the 1st quarter. Valley National Advisers Inc. now owns 45 shares of the restaurant operator’s stock worth $131,000 after purchasing an additional 4 shares in the last quarter. Finally, Scott & Selber Inc. lifted its holdings in shares of Chipotle Mexican Grill by 0.6% during the 1st quarter. Scott & Selber Inc. now owns 720 shares of the restaurant operator’s stock valued at $2,093,000 after buying an additional 4 shares during the last quarter. 91.31% of the stock is owned by hedge funds and other institutional investors.

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.