Stock Traders Buy Large Volume of Call Options on Chipotle Mexican Grill (NYSE:CMG)

Chipotle Mexican Grill, Inc. (NYSE:CMG) was the target of unusually large options trading on Wednesday. Investors bought 62,143 call options on the stock. This is an increase of approximately 25% compared to the typical daily volume of 49,651 call options.

Chipotle Mexican Grill Stock Performance

CMG stock traded up $1.61 on Wednesday, reaching $34.97. The company had a trading volume of 8,129,913 shares, compared to its average volume of 17,951,887. The company’s fifty day moving average is $33.55 and its 200 day moving average is $34.03. The company has a market cap of $44.25 billion, a P/E ratio of 32.08, a PEG ratio of 2.13 and a beta of 0.94. Chipotle Mexican Grill has a 1 year low of $28.03 and a 1 year high of $43.99.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. Chipotle Mexican Grill had a return on equity of 54.65% and a net margin of 11.43%.The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter last year, the business posted $0.33 earnings per share. Chipotle Mexican Grill’s revenue was up 9.3% compared to the same quarter last year. On average, sell-side analysts predict that Chipotle Mexican Grill will post 1.14 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CMG. Wealth Watch Advisors INC acquired a new position in shares of Chipotle Mexican Grill in the third quarter valued at approximately $25,000. MV Capital Management Inc. acquired a new stake in Chipotle Mexican Grill during the fourth quarter worth approximately $26,000. Osbon Capital Management LLC acquired a new stake in Chipotle Mexican Grill during the second quarter worth approximately $26,000. Meeder Asset Management Inc. purchased a new stake in Chipotle Mexican Grill in the 2nd quarter worth approximately $27,000. Finally, Merkkuri Wealth Advisors LLC purchased a new stake in Chipotle Mexican Grill in the 1st quarter worth approximately $28,000. Institutional investors and hedge funds own 91.30% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Raymond James Financial reaffirmed an “outperform” rating and issued a $42.50 price objective on shares of Chipotle Mexican Grill in a research note on Thursday, July 30th. Morgan Stanley upped their target price on Chipotle Mexican Grill from $37.00 to $39.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Evercore restated an “outperform” rating and issued a $47.00 price target on shares of Chipotle Mexican Grill in a research report on Thursday, July 30th. Citigroup cut their price target on Chipotle Mexican Grill from $46.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, July 13th. Finally, Weiss Ratings upgraded shares of Chipotle Mexican Grill from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, August 7th. Twenty-four investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $44.16.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.