Chipotle Mexican Grill (NYSE:CMG) Sets New 1-Year High Following Analyst Upgrade

Chipotle Mexican Grill, Inc. (NYSE:CMGGet Free Report) shares reached a new 52-week high on Tuesday after Morgan Stanley raised their price target on the stock from $2,010.00 to $2,070.00. Morgan Stanley currently has an equal weight rating on the stock. Chipotle Mexican Grill traded as high as $2,177.07 and last traded at $2,173.19, with a volume of 17366 shares. The stock had previously closed at $2,150.43.

Other research analysts have also recently issued research reports about the stock. Barclays lowered their price target on shares of Chipotle Mexican Grill from $1,950.00 to $1,865.00 and set an “equal weight” rating on the stock in a research report on Monday, October 23rd. StockNews.com initiated coverage on shares of Chipotle Mexican Grill in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Stifel Nicolaus reduced their price target on shares of Chipotle Mexican Grill from $2,250.00 to $2,150.00 in a research report on Thursday, July 27th. Piper Sandler decreased their price objective on Chipotle Mexican Grill from $2,075.00 to $1,981.00 in a report on Thursday, July 27th. Finally, Wells Fargo & Company cut their target price on Chipotle Mexican Grill from $2,400.00 to $2,200.00 in a research note on Thursday, July 27th. Seven investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, Chipotle Mexican Grill currently has a consensus rating of “Moderate Buy” and an average price target of $2,161.33.

Get Our Latest Report on Chipotle Mexican Grill

Insider Buying and Selling

In other Chipotle Mexican Grill news, Director Patricia Filikrushel sold 57 shares of the stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $2,049.81, for a total value of $116,839.17. Following the sale, the director now owns 686 shares of the company’s stock, valued at approximately $1,406,169.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Chipotle Mexican Grill news, Director Patricia Filikrushel sold 57 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $2,049.81, for a total transaction of $116,839.17. Following the completion of the transaction, the director now owns 686 shares in the company, valued at approximately $1,406,169.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian R. Niccol sold 1,044 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $1,830.95, for a total transaction of $1,911,511.80. Following the completion of the sale, the chief executive officer now directly owns 23,347 shares in the company, valued at $42,747,189.65. The disclosure for this sale can be found here. Insiders sold 4,642 shares of company stock valued at $9,041,139 in the last three months. 0.96% of the stock is owned by corporate insiders.

Institutional Trading of Chipotle Mexican Grill

A number of institutional investors have recently bought and sold shares of CMG. BlackRock Inc. increased its stake in Chipotle Mexican Grill by 2.7% in the second quarter. BlackRock Inc. now owns 2,052,227 shares of the restaurant operator’s stock valued at $4,389,714,000 after purchasing an additional 54,820 shares during the last quarter. State Street Corp raised its stake in Chipotle Mexican Grill by 4.1% during the 2nd quarter. State Street Corp now owns 1,085,226 shares of the restaurant operator’s stock worth $2,321,298,000 after acquiring an additional 42,257 shares in the last quarter. Capital World Investors lifted its position in Chipotle Mexican Grill by 5.3% in the second quarter. Capital World Investors now owns 1,038,882 shares of the restaurant operator’s stock valued at $2,222,169,000 after acquiring an additional 52,163 shares during the last quarter. Geode Capital Management LLC boosted its stake in Chipotle Mexican Grill by 1.7% in the first quarter. Geode Capital Management LLC now owns 565,479 shares of the restaurant operator’s stock valued at $963,779,000 after acquiring an additional 9,520 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its holdings in shares of Chipotle Mexican Grill by 1.5% during the third quarter. Artisan Partners Limited Partnership now owns 509,953 shares of the restaurant operator’s stock worth $934,147,000 after purchasing an additional 7,677 shares during the last quarter. 91.19% of the stock is owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Price Performance

The firm has a market cap of $59.44 billion, a price-to-earnings ratio of 51.38, a PEG ratio of 1.86 and a beta of 1.33. The stock has a 50-day moving average price of $1,911.77 and a 200 day moving average price of $1,978.38.

Chipotle Mexican Grill (NYSE:CMGGet Free Report) last released its quarterly earnings results on Thursday, October 26th. The restaurant operator reported $11.36 EPS for the quarter, topping the consensus estimate of $10.46 by $0.90. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.47 billion. Chipotle Mexican Grill had a return on equity of 45.26% and a net margin of 12.27%. The firm’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.51 earnings per share. As a group, equities research analysts predict that Chipotle Mexican Grill, Inc. will post 43.91 earnings per share for the current year.

About Chipotle Mexican Grill

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Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It offers burritos, burrito bowls, quesadillas, tacos, and salads. The company was founded in 1993 and is headquartered in Newport Beach, California.

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