Chipotle Mexican Grill (NYSE:CMG) Shares Up 0.2% Following Analyst Upgrade

Chipotle Mexican Grill, Inc. (NYSE:CMG) was up 0.2% during trading on Wednesday 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 $2,946.86 and last traded at $2,942.33. Approximately 160,565 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 273,978 shares. The stock had previously closed at $2,936.63.

Several other research firms have also weighed in on CMG. Barclays raised their price objective on Chipotle Mexican Grill from $2,246.00 to $2,400.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Argus raised their price objective on Chipotle Mexican Grill from $3,265.00 to $3,366.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. UBS Group raised their price objective on Chipotle Mexican Grill from $2,900.00 to $3,400.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Wedbush raised their price objective on Chipotle Mexican Grill from $2,400.00 to $2,850.00 and gave the company a “neutral” rating in a research note on Friday, March 22nd. Finally, Piper Sandler raised their price objective on Chipotle Mexican Grill from $1,930.00 to $2,226.00 and gave the company a “neutral” rating in a research note on Tuesday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, Chipotle Mexican Grill has an average rating of “Moderate Buy” and a consensus price target of $2,759.14.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, CEO Brian R. Niccol sold 1,996 shares of Chipotle Mexican Grill stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 22,447 shares in the company, valued at $53,870,779.77. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 898 shares of Chipotle Mexican Grill stock in a transaction that occurred 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 sale, the insider now directly owns 1,529 shares in the company, valued at $4,009,420.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian R. Niccol sold 1,996 shares of Chipotle Mexican Grill stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 22,447 shares of the company’s stock, valued at $53,870,779.77. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,793 shares of company stock worth $18,321,152. 0.96% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several hedge funds and other institutional investors have recently modified their holdings of the company. Evermay Wealth Management LLC increased its holdings in shares of Chipotle Mexican Grill by 1.8% during the fourth quarter. Evermay Wealth Management LLC now owns 231 shares of the restaurant operator’s stock valued at $528,000 after acquiring an additional 4 shares in the last quarter. Peloton Wealth Strategists increased its holdings in shares of Chipotle Mexican Grill by 0.3% during the fourth quarter. Peloton Wealth Strategists now owns 1,451 shares of the restaurant operator’s stock valued at $3,318,000 after acquiring an additional 4 shares in the last quarter. Diversified Trust Co increased its holdings in shares of Chipotle Mexican Grill by 0.9% during the first quarter. Diversified Trust Co now owns 474 shares of the restaurant operator’s stock valued at $1,378,000 after acquiring an additional 4 shares in the last quarter. Coldstream Capital Management Inc. boosted its position in shares of Chipotle Mexican Grill by 1.3% during the third quarter. Coldstream Capital Management Inc. now owns 382 shares of the restaurant operator’s stock valued at $700,000 after buying an additional 5 shares during the last quarter. Finally, Clearstead Advisors LLC boosted its position in shares of Chipotle Mexican Grill by 0.7% during the third quarter. Clearstead Advisors LLC now owns 773 shares of the restaurant operator’s stock valued at $1,416,000 after buying an additional 5 shares during the last quarter. Institutional investors own 91.31% of the company’s stock.

Chipotle Mexican Grill Stock Up 0.2 %

The company has a market cap of $79.74 billion, a PE ratio of 65.57, a PEG ratio of 2.51 and a beta of 1.28. The company has a 50-day moving average of $2,778.61 and a 200-day moving average of $2,378.70.

Shares of Chipotle Mexican Grill are set to split before the market opens on 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 announced its earnings results on Tuesday, February 6th. The restaurant operator reported $10.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.73 by $0.63. The company had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Chipotle Mexican Grill had a return on equity of 44.41% and a net margin of 12.45%. Chipotle Mexican Grill’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $8.29 earnings per share. As a group, equities analysts predict that Chipotle Mexican Grill, Inc. will post 53.41 EPS for the current 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.