Chipotle Mexican Grill (NYSE:CMG) Shares Up 0.5% on Analyst Upgrade

Chipotle Mexican Grill, Inc. (NYSE:CMG) shares were up 0.5% on Friday after Citigroup raised their price target on the stock from $67.38 to $71.00. Citigroup currently has a buy rating on the stock. Chipotle Mexican Grill traded as high as $58.67 and last traded at $57.84. Approximately 3,112,396 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 13,598,791 shares. The stock had previously closed at $57.55.

Several other brokerages have also commented on CMG. JPMorgan Chase & Co. lifted their price target on shares of Chipotle Mexican Grill from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, June 3rd. Morgan Stanley lifted their price target on shares of Chipotle Mexican Grill from $59.72 to $62.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 25th. BMO Capital Markets lifted their price target on shares of Chipotle Mexican Grill from $48.00 to $57.00 and gave the stock a “market perform” rating in a research note on Thursday, April 25th. Oppenheimer lifted their price target on shares of Chipotle Mexican Grill from $66.00 to $69.70 and gave the stock an “outperform” rating in a research note on Wednesday, May 22nd. Finally, Stephens reiterated an “equal weight” rating and set a $3,050.00 price target on shares of Chipotle Mexican Grill in a research note on Wednesday. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $175.30.

Insider Buying and Selling

In related news, CEO Brian R. Niccol sold 320,300 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $63.72, for a total transaction of $20,409,003.52. Following the sale, the chief executive officer now owns 1,133,450 shares of the company’s stock, valued at $72,221,620.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Brian R. Niccol sold 320,300 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $63.72, for a total transaction of $20,409,003.52. Following the sale, the chief executive officer now owns 1,133,450 shares of the company’s stock, valued at $72,221,620.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Scott Boatwright sold 55,000 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $63.80, for a total transaction of $3,509,176.00. Following the sale, the chief operating officer now directly owns 120,600 shares in the company, valued at approximately $7,694,665.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 550,750 shares of company stock valued at $35,023,769. Corporate insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Chipotle Mexican Grill during the second quarter worth about $25,000. Steph & Co. acquired a new position in Chipotle Mexican Grill during the first quarter worth about $29,000. M&R Capital Management Inc. raised its position in Chipotle Mexican Grill by 4,900.0% during the second quarter. M&R Capital Management Inc. now owns 500 shares of the restaurant operator’s stock worth $31,000 after acquiring an additional 490 shares during the last quarter. Versant Capital Management Inc raised its position in Chipotle Mexican Grill by 9,900.0% during the second quarter. Versant Capital Management Inc now owns 500 shares of the restaurant operator’s stock worth $31,000 after acquiring an additional 495 shares during the last quarter. Finally, Lynx Investment Advisory acquired a new position in Chipotle Mexican Grill during the second quarter worth about $31,000. Institutional investors and hedge funds own 91.31% of the company’s stock.

Chipotle Mexican Grill Price Performance

The company has a market cap of $79.20 billion, a price-to-earnings ratio of 61.54, a PEG ratio of 2.29 and a beta of 1.24. The business’s 50-day simple moving average is $127.43 and its 200-day simple moving average is $79.17.

Chipotle Mexican Grill (NYSE:CMG) last announced its earnings results on Wednesday, April 24th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. The company had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 43.74%. As a group, sell-side analysts forecast that Chipotle Mexican Grill, Inc. will post 1.11 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.