Chipotle Mexican Grill (NYSE:CMG) Shares Up 3.1% – Here’s What Happened

06 Nov 2024, 22:30 by Teresa Graham · The Cerbat Gem

Chipotle Mexican Grill, Inc. (NYSE:CMG – Get Free Report)’s share price rose 3.1% during trading on Wednesday . The stock traded as high as $58.08 and last traded at $57.92. Approximately 2,710,853 shares traded hands during trading, a decline of 81% from the average daily volume of 13,947,182 shares. The stock had previously closed at $56.18.

Wall Street Analyst Weigh In

CMG has been the subject of several analyst reports. Oppenheimer restated an “outperform” rating and set a $65.00 price target on shares of Chipotle Mexican Grill in a research note on Monday, September 30th. Guggenheim upped their price target on Chipotle Mexican Grill from $54.50 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Truist Financial upped their price target on Chipotle Mexican Grill from $71.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. BMO Capital Markets increased their price objective on Chipotle Mexican Grill from $55.00 to $56.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Finally, Stephens cut their price objective on Chipotle Mexican Grill from $66.00 to $65.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Chipotle Mexican Grill has an average rating of “Moderate Buy” and a consensus price target of $64.47.

Read Our Latest Stock Report on CMG

Chipotle Mexican Grill Stock Performance

The firm has a market cap of $79.01 billion, a PE ratio of 53.70, a PEG ratio of 2.37 and a beta of 1.26. The stock has a fifty day moving average price of $57.35 and a 200-day moving average price of $81.28.

Chipotle Mexican Grill (NYSE:CMG – Get Free Report) last issued its earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Chipotle Mexican Grill had a return on equity of 43.20% and a net margin of 13.51%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.23 EPS. As a group, equities analysts predict that Chipotle Mexican Grill, Inc. will post 1.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 15,750 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was 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 of the company’s stock, valued at $26,115,436.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Robin S. Hickenlooper sold 1,790 shares of the business’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 completion of the sale, the director now directly owns 41,510 shares in the company, valued at approximately $2,340,333.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Curtis E. Garner sold 15,750 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 457,764 shares of the company’s stock, 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. In the last ninety days, insiders have sold 33,290 shares of company stock valued at $1,866,023. Corporate insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Shellback Capital LP grew its stake in Chipotle Mexican Grill by 4,900.0% during the 2nd quarter. Shellback Capital LP now owns 125,000 shares of the restaurant operator’s stock worth $7,831,000 after buying an additional 122,500 shares during the last quarter. Swedbank AB bought a new position in shares of Chipotle Mexican Grill in the first quarter worth $53,979,000. Optas LLC grew its stake in shares of Chipotle Mexican Grill by 318.5% in the third quarter. Optas LLC now owns 17,160 shares of the restaurant operator’s stock worth $989,000 after purchasing an additional 13,060 shares in the last quarter. Pathway Financial Advisers LLC grew its stake in shares of Chipotle Mexican Grill by 5,662.0% in the third quarter. Pathway Financial Advisers LLC now owns 8,643 shares of the restaurant operator’s stock worth $498,000 after purchasing an additional 8,493 shares in the last quarter. Finally, Transform Wealth LLC grew its stake in shares of Chipotle Mexican Grill by 4,760.7% in the second quarter. Transform Wealth LLC now owns 9,527 shares of the restaurant operator’s stock worth $597,000 after purchasing an additional 9,331 shares in the last quarter. 91.31% of the stock is currently owned by institutional investors.

About Chipotle Mexican Grill

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