Chipotle Mexican Grill (NYSE:CMG) Stock Price Up 1.8% Following Analyst Upgrade

Chipotle Mexican Grill, Inc. (NYSE:CMG)’s stock price was up 1.8% on Tuesday after Argus raised their price target on the stock from $3,668.00 to $3,888.00. Argus currently has a buy rating on the stock. Chipotle Mexican Grill traded as high as $3,435.00 and last traded at $3,425.80. Approximately 157,576 shares were traded during trading, a decline of 36% from the average daily volume of 245,697 shares. The stock had previously closed at $3,365.46.

Several other brokerages also recently weighed in on CMG. The Goldman Sachs Group started coverage on shares of Chipotle Mexican Grill in a report on Thursday, June 13th. They set a “buy” rating and a $3,730.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on shares of Chipotle Mexican Grill from $2,750.00 to $3,000.00 and gave the company a “neutral” rating in a report on Monday, June 3rd. BMO Capital Markets lifted their price target on shares of Chipotle Mexican Grill from $2,400.00 to $2,850.00 and gave the company a “market perform” rating in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Chipotle Mexican Grill from $3,400.00 to $3,600.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Finally, KeyCorp boosted their target price on shares of Chipotle Mexican Grill from $3,250.00 to $3,400.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $3,201.19.

Insider Activity

In other news, insider Roger E. Theodoredis sold 2,509 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $3,164.44, for a total transaction of $7,939,579.96. Following the sale, the insider now directly owns 1,085 shares in the company, valued at approximately $3,433,417.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Albert S. Baldocchi sold 1,000 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $3,166.01, for a total value of $3,166,010.00. Following the sale, the director now directly owns 27,250 shares of the company’s stock, valued at approximately $86,273,772.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Roger E. Theodoredis sold 2,509 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $3,164.44, for a total transaction of $7,939,579.96. Following the completion of the sale, the insider now directly owns 1,085 shares in the company, valued at $3,433,417.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,015 shares of company stock worth $35,023,769. 1.02% of the stock is currently owned by corporate insiders.

Institutional Trading of Chipotle Mexican Grill

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Chipotle Mexican Grill by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 2,732,471 shares of the restaurant operator’s stock worth $7,942,665,000 after purchasing an additional 25,238 shares during the period. Capital World Investors raised its position in Chipotle Mexican Grill by 0.8% in the 4th quarter. Capital World Investors now owns 1,125,974 shares of the restaurant operator’s stock worth $2,575,057,000 after purchasing an additional 8,541 shares during the period. American Century Companies Inc. raised its position in Chipotle Mexican Grill by 3.5% in the 3rd quarter. American Century Companies Inc. now owns 399,902 shares of the restaurant operator’s stock worth $732,552,000 after purchasing an additional 13,482 shares during the period. Wellington Management Group LLP raised its position in Chipotle Mexican Grill by 41.6% in the 3rd quarter. Wellington Management Group LLP now owns 397,182 shares of the restaurant operator’s stock worth $727,570,000 after purchasing an additional 116,723 shares during the period. Finally, Norges Bank purchased a new stake in Chipotle Mexican Grill in the 4th quarter worth about $805,529,000. 91.31% of the stock is owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Trading Up 1.9 %

The company has a market capitalization of $94.16 billion, a PE ratio of 73.15, a price-to-earnings-growth ratio of 2.60 and a beta of 1.25. The stock’s 50-day moving average is $3,121.24 and its two-hundred day moving average is $2,732.93.

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 payable to shareholders after the closing bell on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 EPS for the quarter, topping analysts’ consensus estimates of $11.63 by $1.74. The business had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.67 billion. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 43.74%. On average, equities research analysts forecast that Chipotle Mexican Grill, Inc. will post 55.31 EPS 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.