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

Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) were up 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 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.

Other analysts have also issued research reports about the stock. Wedbush raised their target price on shares of Chipotle Mexican Grill from $2,400.00 to $2,850.00 and gave the stock a “neutral” rating in a research report on Friday, March 22nd. Citigroup raised their target price on shares of Chipotle Mexican Grill from $3,016.00 to $3,358.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Jefferies Financial Group raised 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 report on Tuesday. Deutsche Bank Aktiengesellschaft raised their target price on shares of Chipotle Mexican Grill from $3,100.00 to $3,300.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Finally, Piper Sandler raised their target price on shares of Chipotle Mexican Grill from $1,930.00 to $2,226.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $2,759.14.

Insider Activity at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Christopher W. Brandt sold 3,149 shares of the business’s 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 owns 8,563 shares in the company, valued at approximately $25,071,093.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Chipotle Mexican Grill news, insider Christopher W. Brandt sold 3,149 shares of the business’s 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 owns 8,563 shares in the company, valued at approximately $25,071,093.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Albert S. Baldocchi sold 750 shares of the business’s 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 completion of the transaction, the director now owns 37,271 shares in the company, valued at approximately $97,221,776.21. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,793 shares of company stock worth $18,321,152. 0.96% of the stock is currently owned by corporate insiders.

Institutional Investors 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% in the 4th quarter. Evermay Wealth Management LLC now owns 231 shares of the restaurant operator’s stock valued at $528,000 after purchasing an additional 4 shares in the last quarter. Peloton Wealth Strategists raised its stake in shares of Chipotle Mexican Grill by 0.3% in the 4th quarter. Peloton Wealth Strategists now owns 1,451 shares of the restaurant operator’s stock valued at $3,318,000 after purchasing an additional 4 shares in the last quarter. Diversified Trust Co raised its stake in shares of Chipotle Mexican Grill by 0.9% in the 1st quarter. Diversified Trust Co now owns 474 shares of the restaurant operator’s stock valued at $1,378,000 after purchasing an additional 4 shares in the last quarter. Valley National Advisers Inc. raised its stake in shares of Chipotle Mexican Grill by 9.8% in the 1st quarter. Valley National Advisers Inc. now owns 45 shares of the restaurant operator’s stock valued at $131,000 after purchasing an additional 4 shares in the last quarter. Finally, Coldstream Capital Management Inc. raised its stake in shares of Chipotle Mexican Grill by 1.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 382 shares of the restaurant operator’s stock valued at $700,000 after purchasing an additional 5 shares in the last quarter. Institutional investors and hedge funds own 91.31% of the company’s stock.

Chipotle Mexican Grill Stock Performance

The firm has a market cap of $78.70 billion, a price-to-earnings ratio of 64.71, a price-to-earnings-growth ratio of 2.46 and a beta of 1.28. The business’s 50 day moving average price is $2,783.24 and its 200-day moving average price is $2,385.67.

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

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Tuesday, February 6th. The restaurant operator reported $10.36 earnings per share (EPS) 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 business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the prior year, the business posted $8.29 EPS. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, analysts forecast that Chipotle Mexican Grill, Inc. will post 53.36 earnings per share 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.