Chipotle Mexican Grill (NYSE:CMG) Reaches New 12-Month High After Better-Than-Expected Earnings

Chipotle Mexican Grill, Inc. (NYSE:CMG)’s stock price reached a new 52-week high during trading on Thursday following a better than expected earnings announcement. The company traded as high as $3,026.00 and last traded at $3,026.00, with a volume of 4855 shares. The stock had previously closed at $2,926.76.

The restaurant operator reported $13.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.63 by $1.74. Chipotle Mexican Grill had a return on equity of 45.46% and a net margin of 12.70%. The business had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.67 billion.

Analysts Set New Price Targets

A number of research firms have weighed in on CMG. BMO Capital Markets upped their price target on Chipotle Mexican Grill from $2,400.00 to $2,850.00 and gave the stock a “market perform” rating in a research report on Thursday. JPMorgan Chase & Co. upped their price target on Chipotle Mexican Grill from $2,500.00 to $2,750.00 and gave the stock a “neutral” rating in a research report on Thursday. Robert W. Baird upped their price target on Chipotle Mexican Grill from $3,250.00 to $3,500.00 and gave the stock an “outperform” rating in a research report on Thursday. Barclays upped their price target on Chipotle Mexican Grill from $2,400.00 to $2,865.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Chipotle Mexican Grill from $3,400.00 to $3,600.00 and gave the stock a “buy” rating in a research report on Thursday. Ten analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Chipotle Mexican Grill has an average rating of “Moderate Buy” and a consensus target price of $3,137.12.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 898 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $2,622.25, for a total transaction of $2,354,780.50. Following the transaction, the insider now owns 1,529 shares in the company, valued at approximately $4,009,420.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Roger E. Theodoredis sold 898 shares of the firm’s 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 transaction, the insider now owns 1,529 shares in the company, valued at $4,009,420.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian R. Niccol sold 1,996 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 22,447 shares in the company, valued at approximately $53,870,779.77. 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 90 days. Company insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CMG. Byrne Asset Management LLC boosted its stake in Chipotle Mexican Grill by 11.8% in the first quarter. Byrne Asset Management LLC now owns 38 shares of the restaurant operator’s stock valued at $110,000 after buying an additional 4 shares in the last quarter. Evermay Wealth Management LLC boosted its stake 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 purchasing an additional 4 shares in the last quarter. Peloton Wealth Strategists boosted its stake 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 purchasing an additional 4 shares in the last quarter. Diversified Trust Co boosted its stake 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 purchasing an additional 4 shares in the last quarter. Finally, Valley National Advisers Inc. boosted its stake in shares of Chipotle Mexican Grill by 9.8% during the first 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. Institutional investors own 91.31% of the company’s stock.

Chipotle Mexican Grill Stock Up 2.5 %

The stock has a 50 day moving average price of $2,822.95 and a 200 day moving average price of $2,426.07. The stock has a market capitalization of $87.60 billion, a price-to-earnings ratio of 68.06, a price-to-earnings-growth ratio of 2.48 and a beta of 1.28.

Chipotle Mexican Grill shares 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 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.