Chipotle Shares Are Moving On Monday: What You Need To Know

Chipotle Mexican Grill, Inc. CMG shares are experiencing fluctuations Monday, potentially driven by a mix of significant developments. Recently, Chipotle executed a stock split, a move aimed at making its shares more accessible to a broader range of investors.

Simultaneously, a detailed study by Wells Fargo analyst Zachary Fadem brought to light substantial inconsistencies in Chipotle’s portion sizes.

Fadem’s team ordered the same burrito bowl 75 times from various locations in New York City, revealing significant variation in weights, with some bowls weighing under 15 ounces and others over 21 ounces. This study corroborated customer complaints about “shrinkflation,” despite CEO Brian Niccol‘s claims that portions had not decreased.

What Else: Wedbush downgraded the stock to Neutral with a new price target of $3,200, while TD Cowen and Baird maintained their positive ratings with targets of $3,600 and $3,500, respectively.

CMG Price Action: Chipotle Mexican Grill shares were down by 4.92% at $59.66 according to Benzinga Pro.

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Image: Courtesy of Chipotle