Chipotle Mexican Grill (NYSE:CMG) Shares Gap Up After Analyst Upgrade

Chipotle Mexican Grill, Inc. (NYSE:CMG)’s stock price gapped up prior to trading on Wednesday after Truist Financial raised their price target on the stock from $72.00 to $74.00. The stock had previously closed at $60.94, but opened at $62.99. Truist Financial currently has a buy rating on the stock. Chipotle Mexican Grill shares last traded at $63.37, with a volume of 3,295,363 shares.

Other analysts also recently issued reports about the company. Wells Fargo & Company lifted their price objective on Chipotle Mexican Grill from $66.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Stephens reaffirmed an “equal weight” rating and set a $65.00 target price on shares of Chipotle Mexican Grill in a research report on Tuesday, November 12th. Loop Capital increased their price objective on Chipotle Mexican Grill from $53.00 to $58.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Robert W. Baird lifted their price objective on shares of Chipotle Mexican Grill from $62.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $65.00 price objective on shares of Chipotle Mexican Grill in a report on Monday, September 30th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, Chipotle Mexican Grill presently has an average rating of “Moderate Buy” and an average target price of $65.34.

Insider Transactions at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 15,750 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $57.05, for a total transaction of $898,537.50. Following the sale, the insider now directly owns 457,764 shares of the company’s stock, valued at approximately $26,115,436.20. This represents a 3.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robin S. Hickenlooper sold 1,790 shares of Chipotle Mexican Grill stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $56.38, for a total transaction of $100,920.20. Following the completion of the transaction, the director now directly owns 41,510 shares of the company’s stock, valued at $2,340,333.80. This trade represents a 4.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,290 shares of company stock valued at $1,866,023 over the last quarter. Company insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

Several institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its position in Chipotle Mexican Grill by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 28,080,978 shares of the restaurant operator’s stock valued at $1,612,682,000 after purchasing an additional 438,007 shares during the last quarter. American Century Companies Inc. increased its stake 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 purchasing an additional 19,759,754 shares during the period. Franklin Resources Inc. raised its holdings in shares of Chipotle Mexican Grill by 2.9% during the third quarter. Franklin Resources Inc. now owns 13,661,937 shares of the restaurant operator’s stock valued at $805,692,000 after buying an additional 381,873 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Chipotle Mexican Grill by 5,209.5% during the second 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 period. Finally, Massachusetts Financial Services Co. MA grew its holdings in Chipotle Mexican Grill by 5,930.8% in 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 in the last quarter. 91.31% of the stock is owned by institutional investors.

Chipotle Mexican Grill Trading Up 4.0 %

The firm has a 50-day moving average of $59.00 and a 200 day moving average of $81.07. The stock has a market capitalization of $86.35 billion, a price-to-earnings ratio of 56.69, a PEG ratio of 2.44 and a beta of 1.27.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. Chipotle Mexican Grill had a net margin of 13.51% and a return on equity of 43.20%. The company’s revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.23 earnings per share. Equities research analysts predict that Chipotle Mexican Grill, Inc. will post 1.11 EPS for the current fiscal year.

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.