Chipotle Mexican Grill (NYSE:CMG) Trading Up 1.6%

Chipotle Mexican Grill, Inc. (NYSE:CMG)’s share price was up 1.6% during mid-day trading on Wednesday . The stock traded as high as $55.30 and last traded at $54.95. Approximately 2,809,629 shares traded hands during trading, a decline of 80% from the average daily volume of 14,388,941 shares. The stock had previously closed at $54.08.

Analysts Set New Price Targets

CMG has been the topic of several recent analyst reports. Truist Financial reduced their price objective on shares of Chipotle Mexican Grill from $74.00 to $69.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Jefferies Financial Group upped their price objective on shares of Chipotle Mexican Grill from $47.00 to $54.00 and gave the company a “hold” rating in a research note on Tuesday, April 16th. Robert W. Baird raised their target price on shares of Chipotle Mexican Grill from $70.00 to $74.00 and gave the stock an “outperform” rating in a research report on Thursday, June 27th. TD Cowen cut their price target on shares of Chipotle Mexican Grill from $72.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Finally, Raymond James dropped their price objective on Chipotle Mexican Grill from $70.00 to $62.50 and set an “outperform” rating for the company in a report on Thursday, July 25th. Eleven equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.88.

Chipotle Mexican Grill Stock Performance

The company’s fifty day moving average price is $123.93 and its 200 day moving average price is $80.35. The firm has a market capitalization of $73.80 billion, a price-to-earnings ratio of 58.46, a price-to-earnings-growth ratio of 2.23 and a beta of 1.24.

Chipotle Mexican Grill (NYSE:CMG) last announced 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 company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter last year, the business earned $12.65 earnings per share. Chipotle Mexican Grill’s revenue was up 18.2% compared to the same quarter last year. As a group, sell-side analysts expect that Chipotle Mexican Grill, Inc. will post 1.09 earnings per share for the current year.

Institutional Trading of Chipotle Mexican Grill

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its holdings in Chipotle Mexican Grill by 4,816.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,356,173 shares of the restaurant operator’s stock valued at $523,514,000 after acquiring an additional 8,186,198 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Chipotle Mexican Grill by 4,260.5% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,132,332 shares of the restaurant operator’s stock worth $196,241,000 after buying an additional 3,060,498 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Chipotle Mexican Grill by 3,988.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,996,492 shares of the restaurant operator’s stock worth $187,730,000 after buying an additional 2,923,203 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Chipotle Mexican Grill by 4,947.9% in the second quarter. Rhumbline Advisers now owns 2,633,801 shares of the restaurant operator’s stock valued at $165,008,000 after buying an additional 2,581,625 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in shares of Chipotle Mexican Grill by 24,348.1% during the 2nd quarter. National Bank of Canada FI now owns 1,974,431 shares of the restaurant operator’s stock valued at $121,993,000 after acquiring an additional 1,966,355 shares during the last quarter. 91.31% of the stock is currently owned by institutional investors.

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.