Chipotle Mexican Grill (NYSE:CMG) Trading Up 0.4% – Here’s Why

Chipotle Mexican Grill, Inc. (NYSE:CMG) shares traded up 0.4% on Thursday . The company traded as high as $59.63 and last traded at $59.25. 1,552,002 shares were traded during mid-day trading, a decline of 89% from the average session volume of 13,903,040 shares. The stock had previously closed at $59.02.

Wall Street Analyst Weigh In

CMG has been the topic of a number of recent research reports. KeyCorp lowered their target price on Chipotle Mexican Grill from $68.00 to $66.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Stephens reiterated an “equal weight” rating and set a $61.00 price target on shares of Chipotle Mexican Grill in a research report on Tuesday, August 13th. Piper Sandler lifted their target price on Chipotle Mexican Grill from $56.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. Raymond James lowered their price target on shares of Chipotle Mexican Grill from $70.00 to $62.50 and set an “outperform” rating for the company in a report on Thursday, July 25th. Finally, The Goldman Sachs Group dropped their price objective on shares of Chipotle Mexican Grill from $74.60 to $67.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, Chipotle Mexican Grill currently has an average rating of “Moderate Buy” and an average price target of $63.03.

Chipotle Mexican Grill Price Performance

The stock has a market cap of $81.71 billion, a price-to-earnings ratio of 63.03, a price-to-earnings-growth ratio of 2.41 and a beta of 1.25. The firm’s fifty day moving average price is $56.52 and its two-hundred day moving average price is $81.32.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.94 billion. Chipotle Mexican Grill had a return on equity of 44.01% and a net margin of 13.23%. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same period in the prior year, the business earned $12.65 EPS. On average, equities research analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.08 earnings per share for the current year.

Insider Activity

In related news, insider Curtis E. Garner sold 17,394 shares of the stock in a transaction 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 transaction, the insider now directly owns 358,300 shares in the company, valued at $19,591,844. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Curtis E. Garner sold 17,394 shares of the company’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 sale, the insider now owns 358,300 shares in the company, valued at $19,591,844. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 transaction, the director now directly owns 41,510 shares in the company, valued at approximately $2,340,333.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,684 shares of company stock worth $2,817,127 over the last quarter. 1.02% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CMG. Semmax Financial Advisors Inc. lifted its holdings in Chipotle Mexican Grill by 225.0% during the first quarter. Semmax Financial Advisors Inc. now owns 13 shares of the restaurant operator’s stock worth $42,000 after acquiring an additional 9 shares during the period. Crewe Advisors LLC purchased a new position in shares of Chipotle Mexican Grill during the first quarter worth about $44,000. Westside Investment Management Inc. bought a new position in shares of Chipotle Mexican Grill in the 1st quarter worth $58,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Chipotle Mexican Grill during the first quarter valued at about $78,000. Finally, Register Financial Advisors LLC purchased a new position in shares of Chipotle Mexican Grill during the 1st quarter valued at about $102,000. Hedge funds and other institutional investors own 91.31% of the company’s stock.

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.