Chipotle Mexican Grill (NYSE:CMG) Trading 0.7% Higher

Chipotle Mexican Grill, Inc. (NYSE:CMG) shares shot up 0.7% on Thursday . The company traded as high as $56.24 and last traded at $56.16. 2,050,550 shares traded hands during trading, a decline of 86% from the average session volume of 14,846,371 shares. The stock had previously closed at $55.79.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CMG. Piper Sandler cut their price target on Chipotle Mexican Grill from $61.00 to $56.00 and set a “neutral” rating on the stock in a report on Thursday, July 25th. Guggenheim lifted their price target on Chipotle Mexican Grill from $54.50 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Wedbush reaffirmed an “outperform” rating and set a $58.00 price target on shares of Chipotle Mexican Grill in a report on Thursday, August 29th. Stephens reissued an “equal weight” rating and set a $61.00 target price on shares of Chipotle Mexican Grill in a report on Tuesday, August 13th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $67.00 target price on shares of Chipotle Mexican Grill in a report on Wednesday, August 14th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $62.36.

Chipotle Mexican Grill Trading Up 0.7 %

The firm’s fifty day moving average price is $54.54 and its 200 day moving average price is $80.85. The firm has a market capitalization of $77.15 billion, a PE ratio of 59.59, a PEG ratio of 2.24 and a beta of 1.25.

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

Insiders Place Their Bets

In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 17,394 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $54.68, for a total transaction of $951,103.92. Following the completion of the transaction, the insider now owns 358,300 shares of the company’s stock, valued at approximately $19,591,844. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. American Century Companies Inc. increased its stake in Chipotle Mexican Grill by 4,732.3% in the second quarter. American Century Companies Inc. now owns 20,177,309 shares of the restaurant operator’s stock valued at $1,264,109,000 after acquiring an additional 19,759,754 shares during the period. Legal & General Group Plc increased its stake in Chipotle Mexican Grill by 5,209.5% in the second quarter. Legal & General Group Plc now owns 10,935,669 shares of the restaurant operator’s stock valued at $685,128,000 after acquiring an additional 10,729,706 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Chipotle Mexican Grill by 5,930.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,310,132 shares of the restaurant operator’s stock valued at $645,930,000 after acquiring an additional 10,139,174 shares during the period. Bank of New York Mellon Corp grew its stake in Chipotle Mexican Grill by 4,816.1% during the second quarter. Bank of New York Mellon Corp now owns 8,356,173 shares of the restaurant operator’s stock worth $523,514,000 after buying an additional 8,186,198 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in Chipotle Mexican Grill by 76,617.6% during the second quarter. Marshall Wace LLP now owns 5,904,952 shares of the restaurant operator’s stock worth $369,945,000 after buying an additional 5,897,255 shares during the last quarter. Institutional investors and hedge funds own 91.31% of the company’s stock.

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.