Chipotle Mexican Grill Inc. (NYSE:CMG) dropped 1.7% during mid-day trading on Thursday . The stock traded as low as $386.10 and last traded at $394.13, with a volume of 1,237,166 shares traded. The stock had previously closed at $401.05.

A number of equities research analysts have weighed in on CMG shares. BMO Capital Markets reiterated a “buy” rating and set a $550.00 price target on shares of Chipotle Mexican Grill in a research report on Tuesday, March 15th. Goldman Sachs Group Inc. cut shares of Chipotle Mexican Grill from a “buy” rating to a “neutral” rating and dropped their price target for the company from $550.00 to $500.00 in a research report on Friday, April 1st. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $510.00 price target on shares of Chipotle Mexican Grill in a research report on Saturday, April 23rd. Piper Jaffray Cos. reiterated an “overweight” rating and set a $590.00 price target on shares of Chipotle Mexican Grill in a research report on Saturday, March 12th. Finally, Credit Suisse Group AG reiterated an “outperform” rating and set a $550.00 price target on shares of Chipotle Mexican Grill in a research report on Saturday, April 16th. Seven analysts have rated the stock with a sell rating, eighteen have given a hold rating and fifteen have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $529.00.

The company’s 50-day moving average price is $417.28 and its 200-day moving average price is $455.30. The company has a market capitalization of $11.41 billion and a P/E ratio of 37.17.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Tuesday, April 26th. The company reported ($0.88) EPS for the quarter, beating analysts’ consensus estimates of ($0.95) by $0.07. The business had revenue of $834.50 million for the quarter, compared to analyst estimates of $876.83 million. During the same period last year, the business posted $3.88 earnings per share. Chipotle Mexican Grill’s revenue for the quarter was down 23.4% on a year-over-year basis. On average, analysts forecast that Chipotle Mexican Grill Inc. will post $4.51 earnings per share for the current year.

In other news, CEO Steve Ells sold 21,000 shares of the firm’s stock in a transaction on Tuesday, May 31st. The stock was sold at an average price of $440.26, for a total transaction of $9,245,460.00. Following the transaction, the chief executive officer now directly owns 122,043 shares of the company’s stock, valued at $53,730,651.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP purchased a new position in Chipotle Mexican Grill during the fourth quarter worth about $1,039,000. Suntrust Banks Inc. raised its position in Chipotle Mexican Grill by 158.1% in the fourth quarter. Suntrust Banks Inc. now owns 2,478 shares of the company’s stock worth $1,188,000 after buying an additional 1,518 shares during the last quarter. Sawtooth Asset Management Inc. raised its position in Chipotle Mexican Grill by 9,300.0% in the fourth quarter. Sawtooth Asset Management Inc. now owns 2,538 shares of the company’s stock worth $1,218,000 after buying an additional 2,511 shares during the last quarter. Horan Capital Advisors LLC. purchased a new position in Chipotle Mexican Grill during the fourth quarter worth about $1,474,000. Finally, BNP Paribas Arbitrage SA raised its position in Chipotle Mexican Grill by 239.4% in the fourth quarter. BNP Paribas Arbitrage SA now owns 3,197 shares of the company’s stock worth $1,534,000 after buying an additional 2,255 shares during the last quarter.

Chipotle Mexican Grill, Inc, together with its subsidiaries operates Chipotle Mexican Grill restaurants. The Company’s Chipotle Mexican Grill restaurants serve a menu of burritos, tacos, burrito bowls (a burrito without the tortilla) and salads. The Company operates approximately 1,970 Chipotle restaurants throughout the United States, over 10 in Canada, seven in England, four in France and one in Germany.

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