Chipotle Mexican Grill (NYSE:CMG) Shares Up 0.1% on Analyst Upgrade

Chipotle Mexican Grill, Inc. (NYSE:CMG)’s share price shot up 0.1% during mid-day trading on Wednesday after UBS Group raised their price target on the stock from $2,900.00 to $3,400.00. UBS Group currently has a buy rating on the stock. Chipotle Mexican Grill traded as high as $2,929.82 and last traded at $2,929.82. 40,692 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 229,340 shares. The stock had previously closed at $2,926.96.

Other equities research analysts have also recently issued research reports about the stock. BTIG Research lifted their price target on shares of Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Truist Financial lifted their price target on shares of Chipotle Mexican Grill from $2,700.00 to $2,920.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Citigroup lifted 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 note on Monday. BMO Capital Markets lifted their target price on shares of Chipotle Mexican Grill from $2,100.00 to $2,400.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 7th. Finally, Piper Sandler lifted 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 note on Tuesday, January 16th. Nine investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $2,702.22.

Insider Activity at Chipotle Mexican Grill

In related news, Director Albert S. Baldocchi sold 750 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 37,271 shares in the company, valued at approximately $97,221,776.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Albert S. Baldocchi sold 750 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 37,271 shares in the company, valued at approximately $97,221,776.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brian R. Niccol sold 1,996 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $2,399.91, for a total transaction of $4,790,220.36. Following the completion of the sale, the chief executive officer now owns 22,447 shares in the company, valued at $53,870,779.77. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,793 shares of company stock worth $18,321,152. Company insiders own 0.96% of the company’s stock.

Institutional Trading of Chipotle Mexican Grill

A number of institutional investors and hedge funds have recently bought and sold shares of CMG. Norges Bank purchased a new stake in Chipotle Mexican Grill during the fourth quarter worth about $805,529,000. International Assets Investment Management LLC grew its position in shares of Chipotle Mexican Grill by 220,249.6% during the fourth quarter. International Assets Investment Management LLC now owns 301,879 shares of the restaurant operator’s stock worth $6,903,850,000 after buying an additional 301,742 shares in the last quarter. Moneta Group Investment Advisors LLC acquired a new position in shares of Chipotle Mexican Grill during the fourth quarter worth about $248,604,000. Morgan Stanley grew its position in shares of Chipotle Mexican Grill by 65.8% during the fourth quarter. Morgan Stanley now owns 375,736 shares of the restaurant operator’s stock worth $521,332,000 after buying an additional 149,115 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Chipotle Mexican Grill by 41.6% during the third quarter. Wellington Management Group LLP now owns 397,182 shares of the restaurant operator’s stock worth $727,570,000 after buying an additional 116,723 shares in the last quarter. 91.31% of the stock is currently owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Stock Up 0.8 %

The firm has a market capitalization of $82.00 billion, a price-to-earnings ratio of 67.43, a P/E/G ratio of 2.51 and a beta of 1.28. The stock has a 50-day moving average price of $2,740.18 and a 200 day moving average price of $2,340.77.

Chipotle Mexican Grill’s stock is set 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 payable to shareholders after the closing bell on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Tuesday, February 6th. The restaurant operator reported $10.36 EPS for the quarter, topping 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 business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the previous year, the company posted $8.29 earnings per share. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. As a group, equities analysts forecast that Chipotle Mexican Grill, Inc. will post 53.12 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.