Chipotle Mexican Grill (NYSE:CMG) Stock Price Up 1.8% – Here’s Why

Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) rose 1.8% on Thursday . The stock traded as high as $60.48 and last traded at $60.33. Approximately 1,727,809 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 13,856,396 shares. The stock had previously closed at $59.27.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CMG shares. BMO Capital Markets increased their price target on shares of Chipotle Mexican Grill from $55.00 to $56.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Citigroup decreased their price objective on shares of Chipotle Mexican Grill from $71.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Evercore ISI boosted their target price on shares of Chipotle Mexican Grill from $59.00 to $70.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 15th. Raymond James cut their price target 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. Finally, Robert W. Baird increased their target price on shares of Chipotle Mexican Grill from $62.00 to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $64.47.

Chipotle Mexican Grill Trading Up 1.6 %

The stock has a market capitalization of $82.01 billion, a price-to-earnings ratio of 56.15, a PEG ratio of 2.44 and a beta of 1.26. The stock has a fifty day moving average of $57.78 and a two-hundred day moving average of $81.24.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same quarter last year, the business posted $0.23 earnings per share. Chipotle Mexican Grill’s revenue for the quarter was up 13.0% compared to the same quarter last year. Equities analysts expect that Chipotle Mexican Grill, Inc. will post 1.11 earnings per share for the current year.

Insider Activity

In related news, insider Curtis E. Garner sold 15,750 shares of Chipotle Mexican Grill stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $55.02, for a total value of $866,565.00. Following the completion of the sale, the insider now directly owns 473,514 shares in the company, valued at $26,052,740.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 15,750 shares of Chipotle Mexican Grill stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $55.02, for a total transaction of $866,565.00. Following the completion of the sale, the insider now owns 473,514 shares of the company’s stock, valued at approximately $26,052,740.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robin S. Hickenlooper sold 1,790 shares of Chipotle Mexican Grill stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $56.38, for a total value of $100,920.20. Following the sale, the director now directly owns 41,510 shares of the company’s stock, valued at approximately $2,340,333.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,290 shares of company stock valued at $1,866,023 over the last 90 days. 1.02% of the stock is owned by company insiders.

Institutional Trading of Chipotle Mexican Grill

A number of hedge funds have recently modified their holdings of the company. Shellback Capital LP grew its holdings in shares of Chipotle Mexican Grill by 4,900.0% in the 2nd quarter. Shellback Capital LP now owns 125,000 shares of the restaurant operator’s stock valued at $7,831,000 after buying an additional 122,500 shares during the period. Swedbank AB bought a new stake in Chipotle Mexican Grill during the 1st quarter worth approximately $53,979,000. Optas LLC raised its holdings in Chipotle Mexican Grill by 318.5% during the 3rd quarter. Optas LLC now owns 17,160 shares of the restaurant operator’s stock worth $989,000 after buying an additional 13,060 shares during the period. Savvy Advisors Inc. bought a new position in Chipotle Mexican Grill in the third quarter valued at approximately $758,000. Finally, Pathway Financial Advisers LLC lifted its stake in Chipotle Mexican Grill by 5,662.0% in the third quarter. Pathway Financial Advisers LLC now owns 8,643 shares of the restaurant operator’s stock valued at $498,000 after buying an additional 8,493 shares in the last quarter. 91.31% of the stock is currently owned by institutional investors and hedge funds.

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.