Matthew Bush Sells 2,675 Shares of Chipotle Mexican Grill (NYSE:CMG) Stock

Chipotle Mexican Grill, Inc. (NYSE:CMG) insider Matthew Bush sold 2,675 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $35.75, for a total value of $95,631.25. Following the completion of the transaction, the insider owned 21,415 shares in the company, valued at approximately $765,586.25. The trade was a 11.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Chipotle Mexican Grill Trading Down 1.4%

Shares of NYSE CMG opened at $37.50 on Wednesday. The stock has a fifty day simple moving average of $34.01 and a two-hundred day simple moving average of $33.94. Chipotle Mexican Grill, Inc. has a 1-year low of $28.03 and a 1-year high of $43.13. The firm has a market cap of $47.45 billion, a price-to-earnings ratio of 34.40, a price-to-earnings-growth ratio of 2.42 and a beta of 0.94.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The firm had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.33 billion. Chipotle Mexican Grill had a return on equity of 54.65% and a net margin of 11.43%.The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.33 EPS. Analysts forecast that Chipotle Mexican Grill, Inc. will post 1.14 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on CMG. Guggenheim restated a “neutral” rating and set a $36.00 price target (up from $35.00) on shares of Chipotle Mexican Grill in a research note on Friday, July 31st. JPMorgan Chase & Co. upgraded shares of Chipotle Mexican Grill from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $38.00 to $35.00 in a research note on Friday, June 5th. UBS Group restated a “buy” rating on shares of Chipotle Mexican Grill in a research report on Friday, July 31st. Raymond James Financial reaffirmed an “outperform” rating and issued a $42.50 price target on shares of Chipotle Mexican Grill in a report on Thursday, July 30th. Finally, Citigroup decreased their price objective on Chipotle Mexican Grill from $46.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, July 13th. Twenty-three investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, Chipotle Mexican Grill presently has an average rating of “Moderate Buy” and a consensus target price of $43.84.

Trending Headlines about Chipotle Mexican Grill

Here are the key news stories impacting Chipotle Mexican Grill this week:

• Positive Sentiment: Chipotle launched a new “Every Win Tastes Better” promotion with tennis player Taylor Fritz, offering BOGO entrées after his U.S. Open victories. The campaign follows record redemptions from the company’s back-to-school promotion and could support restaurant traffic, digital engagement and near-term sales. Chipotle Taylor Fritz promotion
• Positive Sentiment: Investors remain encouraged by Chipotle’s digital initiatives, menu innovation and unit-expansion plans, which could provide longer-term revenue growth and help explain the stock’s recent strength. Chipotle growth outlook
• Neutral Sentiment: CMG continued to rise despite a Baird downgrade because the firm’s Neutral rating still carries a $40 price target, while recent momentum and promotional activity appear to be outweighing the more cautious analyst view. Chipotle stock gains after downgrade
• Negative Sentiment: Baird lowered its rating to Neutral and cut its price target to $40 from $44, arguing that Chipotle may need to spend considerably more to generate slower sales growth. Rising labor, marketing and operating costs could pressure margins and limit valuation upside. Baird Chipotle downgrade
• Negative Sentiment: Insider Matthew R. Bush sold 2,675 shares worth approximately $95,631, reducing his direct stake by 11.1%. The transaction may modestly weigh on sentiment, although one insider sale does not necessarily signal deteriorating business conditions. SEC insider filing

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. EP Wealth Advisors LLC bought a new stake in Chipotle Mexican Grill in the second quarter valued at approximately $948,000. Callan Family Office LLC purchased a new position in shares of Chipotle Mexican Grill in the second quarter worth $1,406,000. Norges Bank bought a new stake in Chipotle Mexican Grill during the 4th quarter valued at $711,837,000. Focus Partners Advisor Solutions LLC raised its holdings in Chipotle Mexican Grill by 156.9% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 58,269 shares of the restaurant operator’s stock valued at $2,156,000 after buying an additional 35,589 shares during the last quarter. Finally, PensionDanmark Pensionsforsikringsaktieselskab boosted its position in Chipotle Mexican Grill by 40.2% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 268,771 shares of the restaurant operator’s stock valued at $9,138,000 after buying an additional 77,002 shares during the period. 91.30% of the stock is owned by institutional investors.

About Chipotle Mexican Grill

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.