Chipotle Mexican Grill (NYSE:CMG) Trading Up 2% – Here’s Why

Chipotle Mexican Grill, Inc. (NYSE:CMG)’s stock price rose 2% during mid-day trading on Tuesday . The company traded as high as $60.75 and last traded at $60.47. Approximately 4,851,176 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 13,884,207 shares. The stock had previously closed at $59.27.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CMG shares. Evercore ISI raised their target price on shares of Chipotle Mexican Grill from $59.00 to $70.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 15th. Robert W. Baird boosted their price objective on shares of Chipotle Mexican Grill from $62.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Piper Sandler increased their target price on Chipotle Mexican Grill from $59.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Barclays boosted their price target on Chipotle Mexican Grill from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer restated an “outperform” rating and issued a $65.00 price objective on shares of Chipotle Mexican Grill in a report on Monday, September 30th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, Chipotle Mexican Grill has an average rating of “Moderate Buy” and a consensus target price of $64.47.

Chipotle Mexican Grill Stock Up 1.1 %

The firm has a market capitalization of $81.64 billion, a price-to-earnings ratio of 56.15, a P/E/G ratio of 2.44 and a beta of 1.26. The company’s 50 day moving average price is $57.78 and its 200 day moving average price is $81.24.

Chipotle Mexican Grill (NYSE:CMG) last announced its earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.02. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.23 EPS. As a group, analysts expect that Chipotle Mexican Grill, Inc. will post 1.11 earnings per share for the current year.

Insider Transactions at Chipotle Mexican Grill

In related news, insider Curtis E. Garner sold 15,750 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $55.02, for a total value of $866,565.00. Following the completion of the sale, the insider now owns 473,514 shares in the company, valued at $26,052,740.28. This trade represents a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robin S. Hickenlooper sold 1,790 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $56.38, for a total transaction of $100,920.20. Following the completion of the sale, the director now owns 41,510 shares of the company’s stock, valued at $2,340,333.80. This trade represents a 4.13 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 33,290 shares of company stock valued at $1,866,023. Insiders own 1.02% of the company’s stock.

Institutional Investors Weigh In On Chipotle Mexican Grill

Institutional investors have recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Chipotle Mexican Grill in the second quarter valued at $25,000. Riverview Trust Co grew its stake in Chipotle Mexican Grill by 4,900.0% in the second quarter. Riverview Trust Co now owns 400 shares of the restaurant operator’s stock worth $25,000 after purchasing an additional 392 shares in the last quarter. RiverPark Advisors LLC increased its holdings in Chipotle Mexican Grill by 4,900.0% in the second quarter. RiverPark Advisors LLC now owns 400 shares of the restaurant operator’s stock valued at $25,000 after buying an additional 392 shares during the last quarter. Archer Investment Corp bought a new position in Chipotle Mexican Grill during the 2nd quarter worth approximately $25,000. Finally, Oliver Lagore Vanvalin Investment Group lifted its holdings in Chipotle Mexican Grill by 4,900.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the restaurant operator’s stock worth $25,000 after buying an additional 392 shares during the last quarter. 91.31% of the stock is currently owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Company Profile

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.