Chipotle Mexican Grill (NYSE:CMG) Stock Price Up 1.4% - Still a Buy?

Key Points

• Chipotle Mexican Grill's stock price increased by 1.4% to $43.78, though trading volume significantly decreased by 69% from the average session.
• Analysts have updated their price targets for Chipotle, with variations ranging from $58.00 to $65.00. The overall rating is categorized as a "Moderate Buy."
• The company reported a quarterly earnings per share of $0.33, which exceeded estimates, and revenue was up 3.0% year-over-year.

Chipotle Mexican Grill, Inc. (NYSE:CMG - Get Free Report)'s share price traded up 1.4% on Friday . The company traded as high as $43.78 and last traded at $43.78. 4,371,951 shares traded hands during trading, a decline of 69% from the average session volume of 14,083,933 shares. The stock had previously closed at $43.17.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. TD Cowen cut their price objective on Chipotle Mexican Grill from $61.00 to $58.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. KeyCorp cut their price objective on Chipotle Mexican Grill from $60.00 to $58.00 and set an "overweight" rating on the stock in a research report on Thursday, July 24th. Truist Financial dropped their target price on Chipotle Mexican Grill from $64.00 to $60.00 and set a "buy" rating on the stock in a report on Friday, July 25th. Stephens reissued an "equal weight" rating and issued a $60.00 target price on shares of Chipotle Mexican Grill in a report on Thursday, July 24th. Finally, BMO Capital Markets upgraded shares of Chipotle Mexican Grill from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $56.00 to $65.00 in a research report on Friday, July 18th. Eight investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $60.37.

Chipotle Mexican Grill Stock Performance

The stock has a 50-day moving average of $50.54 and a two-hundred day moving average of $51.25. The company has a market cap of $58.82 billion, a P/E ratio of 39.19, a P/E/G ratio of 2.21 and a beta of 1.05.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. Chipotle Mexican Grill had a return on equity of 43.50% and a net margin of 13.32%. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter in the previous year, the company posted $0.34 earnings per share. The business's revenue was up 3.0% on a year-over-year basis. As a group, sell-side analysts forecast that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Chipotle Mexican Grill

Several institutional investors and hedge funds have recently modified their holdings of CMG. Revolve Wealth Partners LLC increased its holdings in shares of Chipotle Mexican Grill by 4.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator's stock valued at $290,000 after acquiring an additional 214 shares in the last quarter. Bank Pictet & Cie Europe AG increased its holdings in Chipotle Mexican Grill by 22.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,518,593 shares of the restaurant operator's stock worth $91,571,000 after buying an additional 279,267 shares in the last quarter. Insigneo Advisory Services LLC increased its holdings in Chipotle Mexican Grill by 9.7% in the 4th quarter. Insigneo Advisory Services LLC now owns 23,822 shares of the restaurant operator's stock worth $1,436,000 after buying an additional 2,104 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Chipotle Mexican Grill by 8.7% in the 4th quarter. NewEdge Advisors LLC now owns 132,724 shares of the restaurant operator's stock worth $8,003,000 after buying an additional 10,622 shares in the last quarter. Finally, GKV Capital Management Co. Inc. bought a new stake in Chipotle Mexican Grill in the 4th quarter worth about $60,000. 91.31% of the stock is currently owned by institutional investors.

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.

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