Chipotle Mexican Grill (NYSE:CMG) Shares Up 1.8% – Here’s Why

Chipotle Mexican Grill, Inc. (NYSE:CMG)’s share price rose 1.8% during mid-day trading on Thursday . The company traded as high as $60.48 and last traded at $60.33. Approximately 1,727,809 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 13,856,396 shares. The stock had previously closed at $59.27.

Analyst Ratings Changes

A number of brokerages recently commented on CMG. Stephens reiterated an “equal weight” rating and set a $65.00 target price on shares of Chipotle Mexican Grill in a research note on Tuesday. Citigroup decreased their target price on Chipotle Mexican Grill from $71.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. BMO Capital Markets boosted their price objective on shares of Chipotle Mexican Grill from $55.00 to $56.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Loop Capital boosted their price target on shares of Chipotle Mexican Grill from $53.00 to $58.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Finally, Truist Financial raised their price objective on Chipotle Mexican Grill from $71.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $65.27.

Chipotle Mexican Grill Stock Performance

The stock has a market capitalization of $79.88 billion, a PE ratio of 54.79, a P/E/G ratio of 2.39 and a beta of 1.26. The company’s fifty day simple moving average is $58.02 and its two-hundred day simple moving average is $81.06.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates 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 for the quarter was up 13.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 earnings per share. Sell-side analysts forecast that Chipotle Mexican Grill, Inc. will post 1.11 EPS for the current fiscal year.

Insider Transactions at Chipotle Mexican Grill

In related news, insider Curtis E. Garner sold 15,750 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $55.02, for a total transaction of $866,565.00. Following the completion of the transaction, the insider now owns 473,514 shares of the company’s stock, valued at approximately $26,052,740.28. This represents a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robin S. Hickenlooper sold 1,790 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $56.38, for a total value of $100,920.20. Following the sale, the director now directly owns 41,510 shares of the company’s stock, valued at approximately $2,340,333.80. This trade represents a 4.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,290 shares of company stock worth $1,866,023 over the last quarter. 1.02% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several large investors have recently made changes to their positions in CMG. Semmax Financial Advisors Inc. increased its holdings in Chipotle Mexican Grill by 225.0% in the 1st quarter. Semmax Financial Advisors Inc. now owns 13 shares of the restaurant operator’s stock valued at $42,000 after purchasing an additional 9 shares in the last quarter. Crewe Advisors LLC acquired a new stake in shares of Chipotle Mexican Grill in the first quarter valued at about $44,000. LRI Investments LLC purchased a new stake in shares of Chipotle Mexican Grill during the 1st quarter valued at about $168,000. Pacific Center for Financial Services raised its holdings in shares of Chipotle Mexican Grill by 8.0% during the 1st quarter. Pacific Center for Financial Services now owns 54 shares of the restaurant operator’s stock valued at $157,000 after buying an additional 4 shares during the period. Finally, Nwam LLC acquired a new position in Chipotle Mexican Grill during the 1st quarter worth approximately $220,000. Institutional investors and hedge funds 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.