Chipotle Mexican Grill (NYSE:CMG) Sees Strong Trading Volume

Chipotle Mexican Grill, Inc. (NYSE:CMG) saw strong trading volume on Wednesday . 5,310,290 shares were traded during trading, a decline of 64% from the previous session’s volume of 14,912,903 shares.The stock last traded at $52.37 and had previously closed at $51.68.

Analyst Ratings Changes

Several research firms recently issued reports on CMG. Raymond James decreased their target price on shares of Chipotle Mexican Grill from $70.00 to $62.50 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Morgan Stanley raised their target price on shares of Chipotle Mexican Grill from $59.72 to $62.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. UBS Group raised their target price on shares of Chipotle Mexican Grill from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Guggenheim raised their target price on shares of Chipotle Mexican Grill from $54.50 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company raised their target price on shares of Chipotle Mexican Grill from $65.70 to $66.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.36.

Chipotle Mexican Grill Price Performance

The business’s 50-day moving average price is $122.74 and its 200 day moving average price is $80.24. The firm has a market capitalization of $72.06 billion, a price-to-earnings ratio of 56.72, a PEG ratio of 2.23 and a beta of 1.24.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. Chipotle Mexican Grill had a net margin of 13.23% and a return on equity of 44.01%. The business had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the previous year, the company posted $12.65 earnings per share. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. As a group, sell-side analysts expect that Chipotle Mexican Grill, Inc. will post 1.09 earnings per share for the current year.

Insider Transactions at Chipotle Mexican Grill

In other news, insider Curtis E. Garner sold 17,394 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $54.68, for a total transaction of $951,103.92. Following the transaction, the insider now directly owns 358,300 shares of the company’s stock, valued at $19,591,844. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.02% of the company’s stock.

Institutional Trading of Chipotle Mexican Grill

A number of hedge funds and other institutional investors have recently made changes to their positions in CMG. 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 worth $1,264,109,000 after buying an additional 19,759,754 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Chipotle Mexican Grill by 5,209.5% in 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 last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Chipotle Mexican Grill by 5,930.8% in 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 buying an additional 10,139,174 shares during the last quarter. Bank of New York Mellon Corp increased its stake 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 worth $523,514,000 after buying an additional 8,186,198 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in Chipotle Mexican Grill by 76,617.6% during 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. Institutional investors own 91.31% of the company’s stock.

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.