Chipotle Mexican Grill (NYSE:CMG) Trading Up 1% After Analyst Upgrade

Chipotle Mexican Grill, Inc. (NYSE:CMG)’s stock price was up 1% during mid-day 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 traded hands during mid-day trading, a decline of 86% from the average daily volume of 228,900 shares. The stock had previously closed at $2,902.96.

Several other brokerages have also recently issued reports on CMG. Morgan Stanley increased their price objective on Chipotle Mexican Grill from $2,500.00 to $2,986.00 and gave the stock an “equal weight” rating in a research note on Friday, April 12th. Oppenheimer increased their target price on Chipotle Mexican Grill from $2,225.00 to $2,525.00 and gave the company an “outperform” rating in a research report on Friday, January 5th. Jefferies Financial Group increased their target price on Chipotle Mexican Grill from $2,350.00 to $2,700.00 and gave the company a “hold” rating in a research report on Tuesday. Raymond James increased their target price on Chipotle Mexican Grill from $2,450.00 to $2,550.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Finally, Sanford C. Bernstein increased their target price on Chipotle Mexican Grill from $2,800.00 to $3,200.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Eleven equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, Chipotle Mexican Grill presently has an average rating of “Moderate Buy” and an average price target of $2,759.14.

Insider Buying and Selling

In related news, CEO Brian R. Niccol sold 1,996 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $2,399.91, for a total value of $4,790,220.36. Following the completion of the transaction, the chief executive officer now owns 22,447 shares in the company, valued at approximately $53,870,779.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Chipotle Mexican Grill news, CEO Brian R. Niccol sold 1,996 shares of Chipotle Mexican Grill stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $2,399.91, for a total transaction of $4,790,220.36. Following the completion of the transaction, the chief executive officer now owns 22,447 shares in the company, valued at approximately $53,870,779.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher W. Brandt sold 3,149 shares of Chipotle Mexican Grill stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $2,927.84, for a total value of $9,219,768.16. Following the transaction, the insider now owns 8,563 shares of the company’s stock, valued at approximately $25,071,093.92. The disclosure for this sale can be found here. Insiders sold 6,793 shares of company stock worth $18,321,152 in the last 90 days. Insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of institutional investors have recently modified their holdings of the stock. Evermay Wealth Management LLC raised its stake in shares of Chipotle Mexican Grill by 1.8% during the 4th quarter. Evermay Wealth Management LLC now owns 231 shares of the restaurant operator’s stock valued at $528,000 after buying an additional 4 shares during the last quarter. Peloton Wealth Strategists raised its stake in shares of Chipotle Mexican Grill by 0.3% during the 4th quarter. Peloton Wealth Strategists now owns 1,451 shares of the restaurant operator’s stock valued at $3,318,000 after buying an additional 4 shares during the last quarter. Diversified Trust Co grew its position in shares of Chipotle Mexican Grill by 0.9% during the 1st quarter. Diversified Trust Co now owns 474 shares of the restaurant operator’s stock valued at $1,378,000 after acquiring an additional 4 shares during the period. Valley National Advisers Inc. grew its position in shares of Chipotle Mexican Grill by 9.8% during the 1st quarter. Valley National Advisers Inc. now owns 45 shares of the restaurant operator’s stock valued at $131,000 after acquiring an additional 4 shares during the period. Finally, Coldstream Capital Management Inc. grew its position in shares of Chipotle Mexican Grill by 1.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 382 shares of the restaurant operator’s stock valued at $700,000 after acquiring an additional 5 shares during the period. Hedge funds and other institutional investors own 91.31% of the company’s stock.

Chipotle Mexican Grill Trading Down 1.3 %

The stock has a market capitalization of $78.70 billion, a price-to-earnings ratio of 64.71, a PEG ratio of 2.46 and a beta of 1.28. The stock has a 50-day moving average price of $2,783.24 and a 200 day moving average price of $2,385.67.

Shares of Chipotle Mexican Grill 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 market closes on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Tuesday, February 6th. The restaurant operator reported $10.36 EPS for the quarter, beating analysts’ consensus estimates of $9.73 by $0.63. Chipotle Mexican Grill had a return on equity of 44.41% and a net margin of 12.45%. The firm had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period last year, the firm earned $8.29 EPS. The company’s quarterly revenue was up 15.4% on a year-over-year basis. Equities research analysts anticipate that Chipotle Mexican Grill, Inc. will post 53.36 earnings per share for the current 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.