Chipotle Mexican Grill (NYSE:CMG) Hits New 52-Week High Following Strong Earnings

Chipotle Mexican Grill, Inc. (NYSE:CMG) shares hit a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $3,026.00 and last traded at $3,026.00, with a volume of 4855 shares changing hands. The stock had previously closed at $2,926.76.

The restaurant operator reported $13.37 EPS for the quarter, topping analysts’ consensus estimates of $11.63 by $1.74. The business had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Chipotle Mexican Grill had a net margin of 12.45% and a return on equity of 44.41%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CMG shares. Jefferies Financial Group boosted their target price on shares of Chipotle Mexican Grill from $2,350.00 to $2,700.00 and gave the stock a “hold” rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. boosted their price target on shares of Chipotle Mexican Grill from $2,500.00 to $2,750.00 and gave the stock a “neutral” rating in a research report on Thursday. Wells Fargo & Company boosted their price target on shares of Chipotle Mexican Grill from $3,285.00 to $3,300.00 and gave the stock an “overweight” rating in a research report on Thursday. BTIG Research boosted their price target on shares of Chipotle Mexican Grill from $3,250.00 to $3,350.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Piper Sandler boosted their target price on shares of Chipotle Mexican Grill from $2,442.00 to $3,070.00 and gave the company a “neutral” rating in a report on Thursday. Eleven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $3,057.68.

Insider Buying and Selling at Chipotle Mexican Grill

In related news, Director Albert S. Baldocchi sold 750 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $2,608.51, for a total value of $1,956,382.50. Following the transaction, the director now directly owns 37,271 shares of the company’s stock, valued at approximately $97,221,776.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Christopher W. Brandt sold 3,149 shares of the stock in a transaction on 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 directly owns 8,563 shares of the company’s stock, valued at approximately $25,071,093.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Albert S. Baldocchi sold 750 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $2,608.51, for a total transaction of $1,956,382.50. Following the sale, the director now owns 37,271 shares of the company’s stock, valued at approximately $97,221,776.21. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,793 shares of company stock valued at $18,321,152. Insiders own 0.96% of the company’s stock.

Institutional Trading of Chipotle Mexican Grill

Large investors have recently bought and sold shares of the business. IFP Advisors Inc lifted its stake in shares of Chipotle Mexican Grill by 13.6% in the 3rd quarter. IFP Advisors Inc now owns 134 shares of the restaurant operator’s stock worth $245,000 after acquiring an additional 16 shares during the period. Flagship Harbor Advisors LLC purchased a new position in shares of Chipotle Mexican Grill in the 3rd quarter valued at about $203,000. DAVENPORT & Co LLC increased its holdings in shares of Chipotle Mexican Grill by 9.4% in the 3rd quarter. DAVENPORT & Co LLC now owns 291 shares of the restaurant operator’s stock valued at $533,000 after purchasing an additional 25 shares in the last quarter. Meridian Wealth Management LLC increased its holdings in shares of Chipotle Mexican Grill by 291.2% in the 3rd quarter. Meridian Wealth Management LLC now owns 442 shares of the restaurant operator’s stock valued at $810,000 after purchasing an additional 329 shares in the last quarter. Finally, Caprock Group LLC increased its holdings in shares of Chipotle Mexican Grill by 4.0% in the 3rd quarter. Caprock Group LLC now owns 208 shares of the restaurant operator’s stock valued at $381,000 after purchasing an additional 8 shares in the last quarter. Institutional investors and hedge funds own 91.31% of the company’s stock.

Chipotle Mexican Grill Stock Performance

The stock’s fifty day moving average price is $2,811.11 and its 200-day moving average price is $2,416.65. The firm has a market cap of $85.44 billion, a PE ratio of 70.26, a P/E/G ratio of 2.47 and a beta of 1.28.

Shares of Chipotle Mexican Grill are going to split on the morning of Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly created shares will be distributed to shareholders after the market closes on Tuesday, June 25th.

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.