Chipotle Mexican Grill (NYSE:CMG) Stock Price Up 1% Following Analyst Upgrade

Chipotle Mexican Grill, Inc. (NYSE:CMG)’s stock price rose 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 trading, a decline of 86% from the average daily volume of 228,900 shares. The stock had previously closed at $2,902.96.

A number of other analysts have also recently weighed in on CMG. Truist Financial increased their price target on Chipotle Mexican Grill from $2,700.00 to $2,920.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Citigroup increased their price target on 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. UBS Group increased their price target on Chipotle Mexican Grill from $2,900.00 to $3,400.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Piper Sandler increased their price target on 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. Finally, Jefferies Financial Group increased their price target on Chipotle Mexican Grill from $2,350.00 to $2,700.00 and gave the stock a “hold” rating in a research report on Tuesday. Eleven research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Chipotle Mexican Grill currently has an average rating of “Moderate Buy” and an average target price of $2,759.14.

Insider Buying and Selling

In related news, CEO Brian R. Niccol sold 1,996 shares of Chipotle Mexican Grill 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 transaction, the chief executive officer now directly owns 22,447 shares in the company, valued at approximately $53,870,779.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Brian R. Niccol sold 1,996 shares of Chipotle Mexican Grill 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 transaction, the chief executive officer now directly owns 22,447 shares in the company, valued at approximately $53,870,779.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Roger E. Theodoredis sold 898 shares of Chipotle Mexican Grill stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $2,622.25, for a total value of $2,354,780.50. Following the completion of the transaction, the insider now owns 1,529 shares in the company, valued at $4,009,420.25. The disclosure for this sale can be found here. Insiders have sold 6,793 shares of company stock worth $18,321,152 in the last three months. 0.96% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CMG. Panagora Asset Management Inc. grew its holdings in shares of Chipotle Mexican Grill by 79.5% during the first quarter. Panagora Asset Management Inc. now owns 948 shares of the restaurant operator’s stock valued at $1,500,000 after buying an additional 420 shares in the last quarter. Cibc World Market Inc. grew its holdings in shares of Chipotle Mexican Grill by 15.5% during the first quarter. Cibc World Market Inc. now owns 171 shares of the restaurant operator’s stock valued at $271,000 after buying an additional 23 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Chipotle Mexican Grill by 7.3% during the first quarter. Canada Pension Plan Investment Board now owns 3,032 shares of the restaurant operator’s stock valued at $4,796,000 after buying an additional 205 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Chipotle Mexican Grill by 6.1% during the first quarter. Cetera Investment Advisers now owns 777 shares of the restaurant operator’s stock valued at $1,229,000 after buying an additional 45 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its holdings in shares of Chipotle Mexican Grill by 38.9% during the first quarter. Sequoia Financial Advisors LLC now owns 218 shares of the restaurant operator’s stock valued at $345,000 after buying an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 91.31% of the company’s stock.

Chipotle Mexican Grill Price Performance

The business has a fifty day moving average price of $2,772.86 and a two-hundred day moving average price of $2,375.00. The firm has a market cap of $79.67 billion, a PE ratio of 66.10, a P/E/G ratio of 2.51 and a beta of 1.28.

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 issued shares will be issued 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 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 the consensus estimate of $2.49 billion. During the same quarter in the previous year, the company posted $8.29 earnings per share. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Chipotle Mexican Grill, Inc. will post 53.41 EPS for the current fiscal year.

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.