Best And Worst Performing Stocks In The S&P 500 For April

It has been a volatile month for the stock market, and April is coming to a close.

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After weeks of economic data showing a slowing economy amid stubborn inflation, the S&P 500SPX +0.56% gained 1.1% in April. Meta Platforms META +0.31% (ticker: META) and Microsoft (MSFT) have posted strong earnings reports, helping to push the index higher.

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The S&P 500's best and worst-performing stocks for April are listed below.

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Chipotle Mexican Grill

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Chipotle's stock price was rising as investors cashed in on the company's strong stock performance while customers were busy choosing between beef burritos and chicken bowls.

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There was no doubt that Chipotle Mexican Grill (CMG) was the best-performing stock in the S&P 500 index during April. Dow Jones Market Data reports that the Dow Jones Industrial Average rose 19.5% this month to $2,052.21, making September 2022 their best month since July 2022, when the index rose 19.65%.

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Earlier this week, Chipotle stock rose after the fast-casual restaurant chain reported first-quarter results that exceeded Wall Street expectations in terms of earnings and revenue. After the company reported disappointing results for the fourth quarter in February, that pivot was much needed.

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During the company's earnings call this month, Chief Financial Officer John Hartung said that the company feels comfortable in the market right now, in which consumers have jobs, they have money, they are going out to eat, and we have a modest inflation rate," Hartung said.

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In terms of Wall Street sentiment, the company is primarily considered bullish. As per FactSet's survey of 34 analysts, 24 of them believe the stock is a Buy, ten believe it is a Hold, and none of them think it is a Sell.

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UBS analyst Dennis Geiger rates the stock a Buy with a price target of $2250 and says that the stock should achieve strong positive growth over the next few quarters because there are multiple demand drivers (including new menu items like Chicken Al Pastor and fajita quesadilla).

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First Republic

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According to its Chief Financial Officer, First Republic Bank (FRC) experienced "unprecedented" outflows for its first quarter, resulting in the stock falling, and now it is the worst performer in the S&P 500 this month.

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A 57.4% decline in First Republic shares in April would make it the company's worst month since March when it plunged 88.6%.

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As a result of Silicon Valley Bank's collapse, the downfall began. Bank customers pulled their deposits after getting spooked. During the first quarter, First Republic's revenues declined by $72 billion, or 41%.

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Our company continues to take steps to strengthen its business. We are grateful to our clients and colleagues for their continued support," company management said in their earnings release for the first quarter.

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Over the last three months, First Republic's wealth management practices, including team advisors and solo advisors, have left for competitors at least 20 times.

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First Republic's stock plunged 36% on Friday alone as a seizure by the Federal Deposit Insurance Corporation became more likely. Several unnamed sources told Trade Algo it was more likely that the FDIC would seize the bank.

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