Chipotle Mexican Grill (NYSE:CMG) Reaches New 52-Week High After Strong Earnings

Chipotle Mexican Grill, Inc. (NYSE:CMG - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday following a stronger than expected earnings report. The company traded as high as $3,026.00 and last traded at $3,026.00, with a volume of 4855 shares traded. The stock had previously closed at $2,926.76.

The restaurant operator reported $13.37 earnings per share for the quarter, beating the consensus estimate of $11.63 by $1.74. Chipotle Mexican Grill had a return on equity of 44.41% and a net margin of 12.45%. The firm had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.67 billion.

Analysts Set New Price Targets

Several brokerages recently weighed in on CMG. Jefferies Financial Group increased their target price on Chipotle Mexican Grill from $2,350.00 to $2,700.00 and gave the company a "hold" rating in a research note on Tuesday, April 16th. Stifel Nicolaus increased their target price on Chipotle Mexican Grill from $2,700.00 to $3,270.00 and gave the company a "buy" rating in a research note on Thursday, April 11th. Wells Fargo & Company upped their price target on Chipotle Mexican Grill from $3,285.00 to $3,300.00 and gave the company an "overweight" rating in a report on Thursday. Evercore ISI upped their price target on Chipotle Mexican Grill from $3,200.00 to $3,600.00 and gave the company an "outperform" rating in a report on Thursday. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $3,300.00 price target (up previously from $2,825.00) on shares of Chipotle Mexican Grill in a report on Thursday. Eleven research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $3,057.68.

Insider Activity at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 898 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $2,622.25, for a total value of $2,354,780.50. Following the transaction, the insider now directly owns 1,529 shares in the company, valued at approximately $4,009,420.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Christopher W. Brandt sold 3,149 shares of the firm's stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $2,927.84, for a total value of $9,219,768.16. Following the transaction, the insider now directly owns 8,563 shares in the company, valued at approximately $25,071,093.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Roger E. Theodoredis sold 898 shares of the firm's stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $2,622.25, for a total value of $2,354,780.50. Following the completion of the transaction, the insider now owns 1,529 shares in the company, valued at $4,009,420.25. The disclosure for this sale can be found here. Insiders sold 6,793 shares of company stock valued at $18,321,152 in the last three months. Corporate insiders own 0.96% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Byrne Asset Management LLC lifted its holdings in Chipotle Mexican Grill by 11.8% during the first quarter. Byrne Asset Management LLC now owns 38 shares of the restaurant operator's stock worth $110,000 after acquiring an additional 4 shares in the last quarter. Evermay Wealth Management LLC raised its stake in shares of Chipotle Mexican Grill by 1.8% in the 4th quarter. Evermay Wealth Management LLC now owns 231 shares of the restaurant operator's stock valued at $528,000 after purchasing an additional 4 shares during the period. Peloton Wealth Strategists raised its stake in shares of Chipotle Mexican Grill by 0.3% in the 4th quarter. Peloton Wealth Strategists now owns 1,451 shares of the restaurant operator's stock valued at $3,318,000 after purchasing an additional 4 shares during the period. Diversified Trust Co raised its stake in shares of Chipotle Mexican Grill by 0.9% in the 1st quarter. Diversified Trust Co now owns 474 shares of the restaurant operator's stock valued at $1,378,000 after purchasing an additional 4 shares during the period. Finally, Valley National Advisers Inc. raised its stake in shares of Chipotle Mexican Grill by 9.8% in the 1st quarter. Valley National Advisers Inc. now owns 45 shares of the restaurant operator's stock valued at $131,000 after purchasing an additional 4 shares during the period. 91.31% of the stock is currently owned by institutional investors.

Chipotle Mexican Grill Trading Up 6.5 %

The company has a 50 day simple moving average of $2,811.11 and a 200-day simple moving average of $2,416.65. The stock has a market cap of $85.44 billion, a price-to-earnings ratio of 70.26, a P/E/G ratio of 2.47 and a beta of 1.28.

Shares of Chipotle Mexican Grill are set to split on the morning of Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly minted shares will be payable to shareholders after the market closes on Tuesday, June 25th.

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.