Chipotle Mexican Grill (NYSE:CMG) Stock Price Up 0.9%

Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) were up 0.9% during trading on Tuesday . The company traded as high as $58.63 and last traded at $58.20. Approximately 2,228,305 shares changed hands during trading, a decline of 85% from the average daily volume of 14,754,954 shares. The stock had previously closed at $57.66.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CMG shares. Barclays cut their price target on shares of Chipotle Mexican Grill from $58.00 to $55.00 and set an “equal weight” rating on the stock in a report on Thursday, July 25th. The Goldman Sachs Group reduced their target price on shares of Chipotle Mexican Grill from $74.60 to $67.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $67.00 price target on shares of Chipotle Mexican Grill in a research report on Wednesday, August 14th. Evercore ISI decreased their target price on Chipotle Mexican Grill from $65.00 to $59.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. Finally, Piper Sandler reduced their price objective on Chipotle Mexican Grill from $61.00 to $56.00 and set a “neutral” rating on the stock in a research note on Thursday, July 25th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, Chipotle Mexican Grill presently has an average rating of “Moderate Buy” and an average target price of $62.36.

Chipotle Mexican Grill Stock Performance

The stock has a market cap of $79.59 billion, a PE ratio of 61.32, a P/E/G ratio of 2.33 and a beta of 1.25. The firm’s 50-day moving average is $54.26 and its 200 day moving average is $80.98.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. Chipotle Mexican Grill had a return on equity of 44.01% and a net margin of 13.23%. The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the previous year, the firm posted $12.65 EPS. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. On average, sell-side analysts predict that Chipotle Mexican Grill, Inc. will post 1.08 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Curtis E. Garner sold 17,394 shares of Chipotle Mexican Grill stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $54.68, for a total value of $951,103.92. Following the sale, the insider now owns 358,300 shares of the company’s stock, valued at $19,591,844. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Curtis E. Garner sold 17,394 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total transaction of $951,103.92. Following the completion of the transaction, the insider now directly owns 358,300 shares of the company’s stock, valued at approximately $19,591,844. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robin S. Hickenlooper sold 1,790 shares of Chipotle Mexican Grill stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $56.38, for a total value of $100,920.20. Following the completion of the sale, the director now owns 41,510 shares in the company, valued at $2,340,333.80. The disclosure for this sale can be found here. Insiders sold a total of 34,934 shares of company stock valued at $1,918,589 over the last three months. 1.02% of the stock is currently owned by company insiders.

Institutional Trading of Chipotle Mexican Grill

A number of institutional investors have recently added to or reduced their stakes in CMG. American Century Companies Inc. increased its position in shares of Chipotle Mexican Grill by 4,732.3% in the second quarter. American Century Companies Inc. now owns 20,177,309 shares of the restaurant operator’s stock valued at $1,264,109,000 after buying an additional 19,759,754 shares in the last quarter. Legal & General Group Plc increased its holdings in Chipotle Mexican Grill by 5,209.5% during the 2nd quarter. Legal & General Group Plc now owns 10,935,669 shares of the restaurant operator’s stock valued at $685,128,000 after acquiring an additional 10,729,706 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Chipotle Mexican Grill by 5,930.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 10,310,132 shares of the restaurant operator’s stock worth $645,930,000 after acquiring an additional 10,139,174 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Chipotle Mexican Grill by 4,816.1% in the second quarter. Bank of New York Mellon Corp now owns 8,356,173 shares of the restaurant operator’s stock valued at $523,514,000 after purchasing an additional 8,186,198 shares in the last quarter. Finally, Marshall Wace LLP grew its position in shares of Chipotle Mexican Grill by 76,617.6% in the second quarter. Marshall Wace LLP now owns 5,904,952 shares of the restaurant operator’s stock valued at $369,945,000 after purchasing an additional 5,897,255 shares during the last quarter. Hedge funds and other institutional investors own 91.31% of the company’s stock.

About Chipotle Mexican Grill

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.