Chipotle Mexican Grill (NYSE:CMG) Trading 1% Higher Following Analyst Upgrade

Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) rose 1% during trading on Thursday after Evercore ISI raised their price target on the stock from $2,900.00 to $3,200.00. Evercore ISI currently has an outperform rating on the stock. Chipotle Mexican Grill traded as high as $2,932.92 and last traded at $2,931.49. Approximately 33,146 shares changed hands during trading, a decline of 86% from the average daily volume of 228,900 shares. The stock had previously closed at $2,902.96.

A number of other equities research analysts also recently weighed in on the company. KeyCorp raised their price target on Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. Argus upped their price objective on shares of Chipotle Mexican Grill from $3,265.00 to $3,366.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Truist Financial raised their target price on Chipotle Mexican Grill from $2,700.00 to $2,920.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. BMO Capital Markets upped their price target on Chipotle Mexican Grill from $2,100.00 to $2,400.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 7th. Finally, Sanford C. Bernstein raised their price objective on Chipotle Mexican Grill from $2,800.00 to $3,200.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Eleven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $2,759.14.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 898 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $2,622.25, for a total value of $2,354,780.50. Following the completion of the transaction, the insider now directly owns 1,529 shares of the company’s stock, valued at $4,009,420.25. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Chipotle Mexican Grill news, insider Christopher W. Brandt sold 3,149 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $2,927.84, for a total transaction of $9,219,768.16. Following the completion of the sale, the insider now owns 8,563 shares in the company, valued at approximately $25,071,093.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Roger E. Theodoredis sold 898 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $2,622.25, for a total value of $2,354,780.50. Following the completion of the transaction, the insider now owns 1,529 shares in the company, valued at $4,009,420.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,793 shares of company stock valued at $18,321,152. 0.96% of the stock is currently owned by corporate insiders.

Institutional Trading of Chipotle Mexican Grill

Institutional investors and hedge funds have recently modified their holdings of the stock. Steph & Co. acquired a new position in Chipotle Mexican Grill during the first quarter valued at approximately $29,000. Fortitude Family Office LLC bought a new position in shares of Chipotle Mexican Grill during the fourth quarter worth $32,000. Coppell Advisory Solutions LLC acquired a new position in shares of Chipotle Mexican Grill in the 2nd quarter valued at $32,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Chipotle Mexican Grill in the 4th quarter valued at $37,000. Finally, ICA Group Wealth Management LLC bought a new stake in shares of Chipotle Mexican Grill in the 4th quarter valued at $37,000. 91.31% of the stock is owned by institutional investors.

Chipotle Mexican Grill Trading Up 0.2 %

The company has a 50 day moving average of $2,778.61 and a 200 day moving average of $2,378.70. The firm has a market cap of $79.74 billion, a price-to-earnings ratio of 65.57, a P/E/G ratio of 2.51 and a beta of 1.28.

Chipotle Mexican Grill shares are set to split on the morning of Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly issued shares will be distributed to shareholders after the closing bell on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Tuesday, February 6th. The restaurant operator reported $10.36 earnings per share for the quarter, beating analysts’ consensus estimates of $9.73 by $0.63. Chipotle Mexican Grill had a net margin of 12.45% and a return on equity of 44.41%. The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the previous year, the firm posted $8.29 earnings per share. The business’s revenue was up 15.4% on a year-over-year basis. Equities analysts forecast that Chipotle Mexican Grill, Inc. will post 53.41 EPS for the current fiscal year.

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.