Chipotle Mexican Grill (NYSE:CMG) Trading 0.7% Higher

Chipotle Mexican Grill, Inc. (NYSE:CMG)’s share price traded up 0.7% on Thursday . The stock traded as high as $56.24 and last traded at $56.16. 2,050,550 shares changed hands during trading, a decline of 86% from the average session volume of 14,846,371 shares. The stock had previously closed at $55.79.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CMG. Wedbush reiterated an “outperform” rating and set a $58.00 target price on shares of Chipotle Mexican Grill in a research report on Thursday, August 29th. Piper Sandler reduced their target price on shares of Chipotle Mexican Grill from $61.00 to $56.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. StockNews.com lowered shares of Chipotle Mexican Grill from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. Stifel Nicolaus reiterated a “buy” rating and set a $70.00 target price on shares of Chipotle Mexican Grill in a research report on Wednesday, August 14th. Finally, BMO Capital Markets reduced their target price on shares of Chipotle Mexican Grill from $57.00 to $55.00 and set a “market perform” rating on the stock in a research report on Thursday, July 25th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $62.36.

Chipotle Mexican Grill Price Performance

The company’s 50-day moving average price is $54.54 and its 200-day moving average price is $80.85. The company has a market cap of $77.15 billion, a P/E ratio of 59.59, a P/E/G ratio of 2.24 and a beta of 1.25.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.94 billion. Chipotle Mexican Grill had a net margin of 13.23% and a return on equity of 44.01%. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter last year, the firm earned $12.65 earnings per share. On average, equities research analysts predict that Chipotle Mexican Grill, Inc. will post 1.08 EPS for the current year.

Insider Activity

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 completion of the transaction, the insider now owns 358,300 shares of the company’s stock, valued at approximately $19,591,844. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

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