Chipotle Mexican Grill (NYSE:CMG) Shares Up 1.8% – Time to Buy?

Chipotle Mexican Grill, Inc. (NYSE:CMG)’s stock price was up 1.8% during trading on Thursday . The company traded as high as $60.48 and last traded at $60.33. Approximately 1,727,809 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 13,856,396 shares. The stock had previously closed at $59.27.

Analysts Set New Price Targets

A number of analysts have issued reports on CMG shares. Truist Financial lifted their price target on Chipotle Mexican Grill from $71.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Barclays raised their price target on Chipotle Mexican Grill from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Robert W. Baird upped their price target on shares of Chipotle Mexican Grill from $62.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Oppenheimer reaffirmed an “outperform” rating and set a $65.00 price objective on shares of Chipotle Mexican Grill in a research note on Monday, September 30th. Finally, Stephens reiterated an “equal weight” rating and issued a $65.00 target price on shares of Chipotle Mexican Grill in a research note on Tuesday. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.47.

Chipotle Mexican Grill Price Performance

The company has a 50-day moving average of $57.78 and a two-hundred day moving average of $81.24. The stock has a market capitalization of $82.01 billion, a PE ratio of 56.15, a P/E/G ratio of 2.44 and a beta of 1.26.

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

Insider Transactions at Chipotle Mexican Grill

In other news, Director Robin S. Hickenlooper sold 1,790 shares of the business’s stock in a transaction on 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 owns 41,510 shares of the company’s stock, valued at approximately $2,340,333.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Robin S. Hickenlooper sold 1,790 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $56.38, for a total value of $100,920.20. Following the sale, the director now directly owns 41,510 shares in the company, valued at $2,340,333.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Curtis E. Garner sold 15,750 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $57.05, for a total value of $898,537.50. Following the transaction, the insider now directly owns 457,764 shares in the company, valued at $26,115,436.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,290 shares of company stock valued at $1,866,023. 1.02% of the stock is currently owned by corporate insiders.

Institutional Trading of Chipotle Mexican Grill

A number of institutional investors have recently made changes to their positions in CMG. American Century Companies Inc. boosted its position 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 valued at $1,264,109,000 after purchasing an additional 19,759,754 shares in the last quarter. Legal & General Group Plc boosted its position 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 period. Massachusetts Financial Services Co. MA grew its holdings in shares of 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 valued at $645,930,000 after buying an additional 10,139,174 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Chipotle Mexican Grill by 4,816.1% in 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 acquiring an additional 8,186,198 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in 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 acquiring an additional 5,897,255 shares during the period. 91.31% of the stock is owned by institutional investors and hedge funds.

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.