Chipotle Mexican Grill (NYSE:CMG) Trading 0.5% Higher on Analyst Upgrade

Chipotle Mexican Grill, Inc. (NYSE:CMG - Get Free Report)'s stock price rose 0.5% during trading on Monday after Morgan Stanley raised their price target on the stock from $2,500.00 to $2,986.00. Morgan Stanley currently has an equal weight rating on the stock. Chipotle Mexican Grill traded as high as $2,982.90 and last traded at $2,973.00. Approximately 43,382 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 231,084 shares. The stock had previously closed at $2,957.60.

Several other brokerages also recently weighed in on CMG. Truist Financial lifted their price target on shares of Chipotle Mexican Grill from $2,700.00 to $2,920.00 and gave the company a "buy" rating in a report on Wednesday, February 7th. TD Cowen reissued a "buy" rating and issued a $2,900.00 target price on shares of Chipotle Mexican Grill in a report on Wednesday, April 10th. Robert W. Baird reissued an "outperform" rating and issued a $2,650.00 target price on shares of Chipotle Mexican Grill in a report on Monday, January 22nd. Oppenheimer boosted their target price on shares of Chipotle Mexican Grill from $2,225.00 to $2,525.00 and gave the stock an "outperform" rating in a report on Friday, January 5th. Finally, Stifel Nicolaus upped their price target on shares of Chipotle Mexican Grill from $2,700.00 to $3,270.00 and gave the company a "buy" rating in a research note on Thursday. Ten investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $2,720.59.

Insider Buying and Selling at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Christopher W. Brandt sold 3,149 shares of the company's stock in a transaction dated 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 transaction, the insider now owns 8,563 shares of the company's stock, valued at $25,071,093.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Roger E. Theodoredis sold 898 shares of the company's stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $2,622.25, for a total transaction of $2,354,780.50. Following the sale, the insider now directly owns 1,529 shares in the company, valued at $4,009,420.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher W. Brandt sold 3,149 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $2,927.84, for a total transaction of $9,219,768.16. Following the completion of the transaction, the insider now owns 8,563 shares in the company, valued at $25,071,093.92. The disclosure for this sale can be found here. Insiders have sold 6,793 shares of company stock valued at $18,321,152 over the last 90 days. 0.96% of the stock is owned by insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

Several hedge funds have recently added to or reduced their stakes in the stock. Brookstone Capital Management increased its stake in Chipotle Mexican Grill by 22.9% in the first quarter. Brookstone Capital Management now owns 188 shares of the restaurant operator's stock valued at $547,000 after purchasing an additional 35 shares during the last quarter. CFM Wealth Partners LLC lifted its holdings in shares of Chipotle Mexican Grill by 0.7% during the first quarter. CFM Wealth Partners LLC now owns 1,879 shares of the restaurant operator's stock worth $5,462,000 after purchasing an additional 13 shares during the period. Mechanics Bank Trust Department acquired a new stake in shares of Chipotle Mexican Grill during the first quarter worth $770,000. Global Assets Advisory LLC acquired a new stake in shares of Chipotle Mexican Grill during the first quarter worth $167,256,000. Finally, Traynor Capital Management Inc. lifted its holdings in shares of Chipotle Mexican Grill by 65.6% during the first quarter. Traynor Capital Management Inc. now owns 346 shares of the restaurant operator's stock worth $1,006,000 after purchasing an additional 137 shares during the period. 91.31% of the stock is currently owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Price Performance

The company has a 50-day simple moving average of $2,759.02 and a 200-day simple moving average of $2,363.48. The stock has a market cap of $80.52 billion, a PE ratio of 66.21, a PEG ratio of 2.53 and a beta of 1.28.

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

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The restaurant operator reported $10.36 EPS for the quarter, topping analysts' consensus estimates of $9.73 by $0.63. The firm had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.49 billion. Chipotle Mexican Grill had a return on equity of 44.41% and a net margin of 12.45%. The firm's quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the business posted $8.29 EPS. On average, equities analysts expect that Chipotle Mexican Grill, Inc. will post 53.31 EPS for the current fiscal year.

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.