Chipotle Mexican Grill (NYSE:CMG) Shares Up 2.2% Following Analyst Upgrade

Chipotle Mexican Grill, Inc. (NYSE:CMG) traded up 2.2% during mid-day trading on Thursday after TD Cowen raised their price target on the stock from $65.00 to $68.00. TD Cowen currently has a buy rating on the stock. Chipotle Mexican Grill traded as high as $57.23 and last traded at $56.96. 3,017,542 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 13,949,813 shares. The stock had previously closed at $55.73.

Other equities research analysts have also issued research reports about the company. Piper Sandler increased their price target on Chipotle Mexican Grill from $59.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday. Citigroup increased their target price on Chipotle Mexican Grill from $69.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Oppenheimer reissued an “outperform” rating and issued a $65.00 price target on shares of Chipotle Mexican Grill in a report on Monday, September 30th. Guggenheim increased their price objective on shares of Chipotle Mexican Grill from $54.50 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Finally, StockNews.com cut shares of Chipotle Mexican Grill from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $64.47.

Insiders Place Their Bets

In other news, insider Curtis E. Garner sold 17,394 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $54.68, for a total value of $951,103.92. Following the completion of the sale, the insider now owns 358,300 shares in the company, valued at approximately $19,591,844. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Curtis E. Garner sold 17,394 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total value of $951,103.92. Following the sale, the insider now directly owns 358,300 shares in the company, valued at approximately $19,591,844. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Curtis E. Garner sold 15,750 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $55.02, for a total value of $866,565.00. Following the transaction, the insider now owns 473,514 shares of the company’s stock, valued at approximately $26,052,740.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,684 shares of company stock valued at $2,817,127 over the last three months. 1.02% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Chipotle Mexican Grill in the 2nd quarter valued at about $25,000. Riverview Trust Co increased its position in shares of Chipotle Mexican Grill by 4,900.0% during the second quarter. Riverview Trust Co now owns 400 shares of the restaurant operator’s stock worth $25,000 after acquiring an additional 392 shares during the period. RiverPark Advisors LLC raised its stake in shares of Chipotle Mexican Grill by 4,900.0% during the second quarter. RiverPark Advisors LLC now owns 400 shares of the restaurant operator’s stock valued at $25,000 after acquiring an additional 392 shares in the last quarter. Archer Investment Corp purchased a new stake in shares of Chipotle Mexican Grill in the second quarter valued at approximately $25,000. Finally, Oliver Lagore Vanvalin Investment Group grew its stake in Chipotle Mexican Grill by 4,900.0% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the restaurant operator’s stock worth $25,000 after purchasing an additional 392 shares in the last quarter. 91.31% of the stock is currently owned by institutional investors.

Chipotle Mexican Grill Stock Performance

The firm has a fifty day simple moving average of $57.28 and a 200 day simple moving average of $81.14. The company has a market capitalization of $80.24 billion, a PE ratio of 54.53, a P/E/G ratio of 2.41 and a beta of 1.25.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.82 billion. Chipotle Mexican Grill had a return on equity of 43.20% and a net margin of 13.51%. The business’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.23 EPS. Research analysts expect that Chipotle Mexican Grill, Inc. will post 1.1 EPS for the current fiscal year.

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.