Chipotle Mexican Grill (NYSE:CMG) Shares Up 1.7% Following Analyst Upgrade

Chipotle Mexican Grill, Inc. (NYSE:CMG - Get Free Report) shares rose 1.7% during trading on Friday after Argus raised their price target on the stock from $3,265.00 to $3,366.00. Argus currently has a buy rating on the stock. Chipotle Mexican Grill traded as high as $2,905.58 and last traded at $2,905.58. Approximately 47,962 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 230,039 shares. The stock had previously closed at $2,856.03.

Several other research firms also recently commented on CMG. TD Cowen raised their price objective on shares of Chipotle Mexican Grill from $2,650.00 to $2,900.00 and gave the stock an "outperform" rating in a report on Wednesday, February 7th. Stephens raised their price objective on shares of Chipotle Mexican Grill from $2,800.00 to $3,000.00 and gave the stock an "overweight" rating in a report on Wednesday, February 7th. Piper Sandler increased their target price on shares of Chipotle Mexican Grill from $1,930.00 to $2,226.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 16th. Raymond James increased their target price on shares of Chipotle Mexican Grill from $2,450.00 to $2,550.00 and gave the stock an "outperform" rating in a research note on Thursday, January 25th. Finally, KeyCorp increased their target price on shares of Chipotle Mexican Grill from $2,250.00 to $2,750.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 7th. Nine investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, Chipotle Mexican Grill has an average rating of "Moderate Buy" and a consensus target price of $2,602.15.

Insider Buying and Selling

In related news, CEO Brian R. Niccol sold 1,996 shares of Chipotle Mexican Grill stock in a transaction on Monday, January 29th. The shares were sold at an average price of $2,399.91, for a total value of $4,790,220.36. Following the transaction, the chief executive officer now owns 22,447 shares in the company, valued at approximately $53,870,779.77. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Chipotle Mexican Grill news, insider Christopher W. Brandt sold 3,149 shares of the firm's stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $2,927.84, for a total value of $9,219,768.16. Following the sale, the insider now owns 8,563 shares of the company's stock, valued at approximately $25,071,093.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Brian R. Niccol sold 1,996 shares of the firm's stock in a transaction on Monday, January 29th. The stock was sold at an average price of $2,399.91, for a total transaction of $4,790,220.36. Following the completion of the sale, the chief executive officer now directly owns 22,447 shares in the company, valued at approximately $53,870,779.77. The disclosure for this sale can be found here. Insiders have sold a total of 6,793 shares of company stock worth $18,321,152 in the last 90 days. 0.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

Large investors have recently modified their holdings of the stock. Fortitude Family Office LLC bought a new stake in shares of Chipotle Mexican Grill during the 4th quarter valued at about $32,000. Coppell Advisory Solutions LLC bought a new stake in shares of Chipotle Mexican Grill during the 2nd quarter valued at about $32,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Chipotle Mexican Grill during the 4th quarter valued at about $37,000. ICA Group Wealth Management LLC bought a new stake in shares of Chipotle Mexican Grill during the 4th quarter valued at about $37,000. Finally, Cornerstone Planning Group LLC bought a new stake in shares of Chipotle Mexican Grill during the 2nd quarter valued at about $39,000. Institutional investors own 91.31% of the company's stock.

Chipotle Mexican Grill Stock Performance

The company has a market capitalization of $79.67 billion, a PE ratio of 65.51, a PEG ratio of 2.48 and a beta of 1.28. The business's 50-day moving average is $2,685.72 and its 200-day moving average is $2,304.68.

Chipotle Mexican Grill shares 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 distributed to shareholders after the market closes on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The restaurant operator reported $10.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.73 by $0.63. Chipotle Mexican Grill had a net margin of 12.45% and a return on equity of 44.41%. The company had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.49 billion. During the same period last year, the company posted $8.29 EPS. Chipotle Mexican Grill's revenue was up 15.4% on a year-over-year basis. Analysts expect that Chipotle Mexican Grill, Inc. will post 53.12 EPS for the current year.

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.