Chipotle Mexican Grill (NYSE:CMG) Announces Earnings Results, Beats Expectations By $0.01 EPS

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) issued its earnings results on Wednesday. The restaurant operator reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.01, Zacks reports. Chipotle Mexican Grill had a net margin of 13.32% and a return on equity of 43.32%. The company had revenue of $3.06 billion for the quarter, compared to analysts' expectations of $3.11 billion. During the same period in the prior year, the company earned $0.34 earnings per share. The firm's revenue was up 3.0% compared to the same quarter last year.

Chipotle Mexican Grill Price Performance

CMG traded up $1.01 during trading on Friday, reaching $46.75. 33,787,342 shares of the stock traded hands, compared to its average volume of 13,460,047. The stock has a market cap of $62.98 billion, a price-to-earnings ratio of 41.74, a price-to-earnings-growth ratio of 2.64 and a beta of 1.08. Chipotle Mexican Grill has a fifty-two week low of $44.46 and a fifty-two week high of $66.74. The stock's 50-day simple moving average is $52.86 and its two-hundred day simple moving average is $52.70.

Analysts Set New Price Targets

A number of brokerages have issued reports on CMG. Raymond James Financial reissued an "outperform" rating and issued a $60.00 target price (down previously from $62.00) on shares of Chipotle Mexican Grill in a report on Thursday. Barclays dropped their price target on Chipotle Mexican Grill from $55.00 to $53.00 and set an "equal weight" rating on the stock in a research report on Thursday. Royal Bank Of Canada dropped their price target on Chipotle Mexican Grill from $65.00 to $60.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. KeyCorp dropped their price target on Chipotle Mexican Grill from $60.00 to $58.00 and set an "overweight" rating on the stock in a research report on Thursday. Finally, Wells Fargo & Company dropped their price target on Chipotle Mexican Grill from $65.00 to $60.00 and set an "overweight" rating on the stock in a research report on Thursday. Nine equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.93.

Insider Transactions at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 113,875 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $49.70, for a total value of $5,659,587.50. Following the completion of the sale, the insider owned 109,815 shares of the company's stock, valued at $5,457,805.50. The trade was a 50.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.81% of the company's stock.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several institutional investors and hedge funds have recently added to or reduced their stakes in CMG. Revolve Wealth Partners LLC increased its stake in shares of Chipotle Mexican Grill by 4.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator's stock worth $290,000 after purchasing an additional 214 shares during the period. Bison Wealth LLC acquired a new position in shares of Chipotle Mexican Grill during the 4th quarter worth about $224,000. Finally, Empowered Funds LLC lifted its position in shares of Chipotle Mexican Grill by 5.5% during the 1st quarter. Empowered Funds LLC now owns 26,460 shares of the restaurant operator's stock worth $1,329,000 after purchasing an additional 1,368 shares during the last quarter. 91.31% of the stock is currently 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.