Chipotle Mexican Grill (NYSE:CMG) Sees Large Volume Increase Following Analyst Upgrade

Chipotle Mexican Grill, Inc. (NYSE:CMG) shares saw unusually-strong trading volume on Thursday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $1,495.00 to $1,630.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Approximately 21,832 shares traded hands during trading, a decline of 92% from the previous session’s volume of 266,770 shares.The stock last traded at $1,776.48 and had previously closed at $1,755.99.

Several other research firms have also recently commented on CMG. Stephens boosted their price target on shares of Chipotle Mexican Grill from $1,700.00 to $1,850.00 and gave the stock an “overweight” rating in a report on Wednesday. Wedbush restated a “buy” rating and set a $1,800.00 price objective on shares of Chipotle Mexican Grill in a research report on Wednesday. KeyCorp boosted their price objective on shares of Chipotle Mexican Grill from $1,800.00 to $1,850.00 and gave the stock an “overweight” rating in a research report on Wednesday. BMO Capital Markets boosted their price objective on shares of Chipotle Mexican Grill from $1,460.00 to $1,750.00 and gave the stock a “market perform” rating in a research report on Wednesday. Finally, Cowen boosted their price objective on shares of Chipotle Mexican Grill from $1,850.00 to $2,080.00 and gave the stock an “outperform” rating in a research report on Wednesday. Eight analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $1,723.65.

In other news, CEO Brian R. Niccol sold 7,798 shares of the company’s stock in a transaction on Monday, July 12th. The shares were sold at an average price of $1,608.22, for a total transaction of $12,540,899.56. Following the transaction, the chief executive officer now directly owns 37,524 shares of the company’s stock, valued at approximately $60,346,847.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Christopher W. Brandt sold 2,795 shares of the company’s stock in a transaction on Wednesday, April 28th. The stock was sold at an average price of $1,471.00, for a total transaction of $4,111,445.00. Following the transaction, the chief marketing officer now directly owns 14,438 shares in the company, valued at $21,238,298. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,309 shares of company stock worth $19,365,245. Corporate insiders own 1.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James Trust N.A. grew its stake in Chipotle Mexican Grill by 3.2% in the 2nd quarter. Raymond James Trust N.A. now owns 709 shares of the restaurant operator’s stock valued at $1,099,000 after acquiring an additional 22 shares during the last quarter. Alpha Cubed Investments LLC grew its stake in Chipotle Mexican Grill by 2.0% in the 2nd quarter. Alpha Cubed Investments LLC now owns 1,515 shares of the restaurant operator’s stock valued at $2,349,000 after acquiring an additional 30 shares during the last quarter. Transform Wealth LLC grew its stake in Chipotle Mexican Grill by 41.2% in the 2nd quarter. Transform Wealth LLC now owns 264 shares of the restaurant operator’s stock valued at $409,000 after acquiring an additional 77 shares during the last quarter. Stratos Wealth Partners LTD. grew its stake in Chipotle Mexican Grill by 0.7% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 2,254 shares of the restaurant operator’s stock valued at $3,494,000 after acquiring an additional 16 shares during the last quarter. Finally, IFM Investors Pty Ltd grew its stake in Chipotle Mexican Grill by 25.4% in the 2nd quarter. IFM Investors Pty Ltd now owns 3,617 shares of the restaurant operator’s stock valued at $5,608,000 after acquiring an additional 733 shares during the last quarter. 89.19% of the stock is currently owned by hedge funds and other institutional investors.

The firm has a market capitalization of $50.13 billion, a PE ratio of 85.41, a price-to-earnings-growth ratio of 3.47 and a beta of 1.35. The business’s 50 day moving average price is $1,445.33.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Monday, July 19th. The restaurant operator reported $7.46 EPS for the quarter, beating the Zacks’ consensus estimate of $6.52 by $0.94. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Chipotle Mexican Grill had a net margin of 8.57% and a return on equity of 28.98%. The firm’s revenue was up 38.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.40 EPS. Equities research analysts forecast that Chipotle Mexican Grill, Inc. will post 24.54 earnings per share for the current fiscal year.

Chipotle Mexican Grill Company Profile (NYSE:CMG)

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. As of December 31, 2020, it owned and operated 2,724 Chipotle restaurants in the United States, 40 international Chipotle restaurants, and 4 non-Chipotle restaurants. The company was founded in 1993 and is headquartered in Newport Beach, California.

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