Chipotle Mexican Grill (NYSE:CMG) Stock Price Up 0.5% Following Analyst Upgrade

Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) were up 0.5% during trading on Friday after Citigroup raised their price target on the stock from $67.38 to $71.00. Citigroup currently has a buy rating on the stock. Chipotle Mexican Grill traded as high as $58.67 and last traded at $57.84. Approximately 3,112,396 shares traded hands during trading, a decline of 77% from the average daily volume of 13,598,791 shares. The stock had previously closed at $57.55.

CMG has been the topic of a number of other research reports. UBS Group lifted their price target on Chipotle Mexican Grill from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Jefferies Financial Group lifted their price target on Chipotle Mexican Grill from $47.00 to $54.00 and gave the company a “hold” rating in a report on Tuesday, April 16th. Raymond James reaffirmed an “outperform” rating and set a $70.00 price target (up previously from $67.00) on shares of Chipotle Mexican Grill in a report on Friday, June 28th. JPMorgan Chase & Co. lifted their price target on Chipotle Mexican Grill from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, June 3rd. Finally, Sanford C. Bernstein lifted their price target on Chipotle Mexican Grill from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. Nine research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $64.90.

Insider Activity at Chipotle Mexican Grill

In related news, CEO Brian R. Niccol sold 320,300 shares of Chipotle Mexican Grill stock in a transaction on Friday, April 26th. The shares were sold at an average price of $63.72, for a total value of $20,409,003.52. Following the completion of the sale, the chief executive officer now owns 1,133,450 shares of the company’s stock, valued at approximately $72,221,620.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Albert S. Baldocchi sold 50,000 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $63.32, for a total transaction of $3,166,010.00. Following the completion of the transaction, the director now owns 1,362,500 shares of the company’s stock, valued at $86,273,772.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian R. Niccol sold 320,300 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $63.72, for a total transaction of $20,409,003.52. Following the transaction, the chief executive officer now directly owns 1,133,450 shares of the company’s stock, valued at approximately $72,221,620.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 550,750 shares of company stock valued at $35,023,769. Insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Steph & Co. acquired a new position in Chipotle Mexican Grill in the first quarter worth about $29,000. Semmax Financial Advisors Inc. raised its position in Chipotle Mexican Grill by 225.0% in the first quarter. Semmax Financial Advisors Inc. now owns 13 shares of the restaurant operator’s stock worth $42,000 after purchasing an additional 9 shares in the last quarter. Crewe Advisors LLC bought a new stake in Chipotle Mexican Grill during the first quarter worth about $44,000. Turtle Creek Wealth Advisors LLC bought a new stake in Chipotle Mexican Grill during the fourth quarter worth about $37,000. Finally, ICA Group Wealth Management LLC bought a new stake in Chipotle Mexican Grill during the fourth quarter worth about $37,000. Institutional investors and hedge funds own 91.31% of the company’s stock.

Chipotle Mexican Grill Price Performance

The stock has a market capitalization of $72.68 billion, a P/E ratio of 57.37, a PEG ratio of 2.14 and a beta of 1.24. The company’s 50 day simple moving average is $126.34 and its two-hundred day simple moving average is $79.82.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Wednesday, April 24th. The restaurant operator reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.04. The firm had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 43.74%. On average, research analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.1 earnings per share 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.