Chipotle Mexican Grill (NYSE:CMG) Shares Up 4.4% - Here's What Happened

Key Points

• Chipotle shares rose 4.4% to about $32.71 in Monday trading, although volume was 59% below the average daily level.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $43.84; 23 analysts rate the stock a Buy versus 10 Holds.
• Chipotle slightly exceeded quarterly expectations, reporting $0.33 EPS versus $0.32 expected and $3.35 billion in revenue, up 9.3% year over year. Institutional investors own 91.3% of the company, while an insider recently sold 2,675 shares.

Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Get Free Report) were up 4.4% on Monday. The stock traded as high as $32.43 and last traded at $32.71. Approximately 7,091,482 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 17,291,025 shares. The stock had previously closed at $31.33.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CMG. Piper Sandler dropped their target price on shares of Chipotle Mexican Grill from $42.00 to $39.00 and set an "overweight" rating on the stock in a report on Thursday, July 30th. Evercore restated an "outperform" rating and issued a $47.00 price target on shares of Chipotle Mexican Grill in a report on Thursday, July 30th. Seaport Research Partners began coverage on shares of Chipotle Mexican Grill in a research report on Wednesday, September 16th. They issued a "neutral" rating for the company. Morgan Stanley increased their price objective on shares of Chipotle Mexican Grill from $37.00 to $39.00 and gave the company an "equal weight" rating in a research note on Thursday, July 30th. Finally, Guggenheim reissued a "neutral" rating and set a $36.00 price objective (up from $35.00) on shares of Chipotle Mexican Grill in a report on Friday, July 31st. Twenty-three research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $43.84.

Chipotle Mexican Grill Trading Up 4.2%

The stock has a 50-day moving average price of $34.83 and a two-hundred day moving average price of $33.66. The stock has a market cap of $41.31 billion, a price-to-earnings ratio of 29.99, a PEG ratio of 1.92 and a beta of 0.94.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last announced its earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. The company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.33 billion. Chipotle Mexican Grill had a return on equity of 54.65% and a net margin of 11.43%.The firm's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.33 EPS. Research analysts predict that Chipotle Mexican Grill, Inc. will post 1.15 earnings per share for the current fiscal year.

Insider Activity at Chipotle Mexican Grill

In related news, insider Matthew R. Bush sold 2,675 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $35.75, for a total value of $95,631.25. Following the completion of the transaction, the insider directly owned 21,415 shares of the company's stock, valued at $765,586.25. This trade represents a 11.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.45% of the stock is owned by insiders.

Institutional Trading of Chipotle Mexican Grill

Several large investors have recently bought and sold shares of the stock. EP Wealth Advisors LLC acquired a new position in shares of Chipotle Mexican Grill in the 2nd quarter valued at about $948,000. Callan Family Office LLC acquired a new stake in Chipotle Mexican Grill during the second quarter worth about $1,406,000. Norges Bank acquired a new stake in Chipotle Mexican Grill during the fourth quarter worth about $711,837,000. PensionDanmark Pensionsforsikringsaktieselskab raised its position in Chipotle Mexican Grill by 40.2% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 268,771 shares of the restaurant operator's stock valued at $9,138,000 after acquiring an additional 77,002 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new position in Chipotle Mexican Grill during the second quarter valued at approximately $2,888,000. Hedge funds and other institutional investors own 91.30% of the company's stock.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc is a fast-casual restaurant company that operates restaurants under the Chipotle Mexican Grill brand. Its menu centers on customizable Mexican-inspired food, including burritos, bowls, tacos and salads, along with sides, beverages and children's meals.

The company emphasizes cooking with responsibly sourced ingredients and preparing food in its restaurants. Customers can order meals in person, through digital ordering channels, for pickup or delivery. Chipotle serves customers primarily in the United States, with additional restaurants in Canada, the United Kingdom, France and Germany.

Chipotle was founded in 1993 by Steve Ells in Denver, Colorado.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.