Share price of Chipotle Mexican Grill (NYSE:CMG) rose 1.6%

VaselineAugust 9, 2024

0 3 minutes read

Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG – Get Your Free Report ) was up 1.6% during mid-day trading on Wednesday. The company traded as high as $55.30 and last traded at $54.95. About 2,809,629 shares were traded during trading, down 80% from the average daily volume of 14,388,941 shares. Shares previously closed at $54.08.

Changes in Analyst Ratings

CMG has been the subject of several recent analyst reports. Morgan Stanley upped their target price on shares of Chipotle Mexican Grill from $59.72 to $62.00 and gave the company an “equal weight” rating in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft decreased their price target on Chipotle Mexican Grill from $72.00 to $67.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. BMO Capital Markets cut their price target on shares of Chipotle Mexican Grill from $57.00 to $55.00 and set a “market perform” rating for the company in a research note on Thursday, July 25th. JPMorgan Chase & Co. boosted their price target on Chipotle Mexican Grill from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, June 3rd. Finally, Piper Sandler reduced their price objective on shares of Chipotle Mexican Grill from $61.00 to $56.00 and set a “neutral” rating for the company in a research note on Thursday, 25 July. Eleven investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company has an average rating of “Moderate Buy” and an average price target of $62.88, according to MarketBeat.

Check out the latest stock report on CMG

Chipotle Mexican Grill Price Performance

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The stock’s 50-day simple moving average is $123.62, and its two-hundred-day simple moving average is $79.98. The company has a market cap of $74.60 billion, a P/E ratio of 57.79, a P/E/G ratio of 2.23 and a beta of 1.24.

Chipotle Mexican Grill (NYSE:CMG – Get Your Free Report ) last issued its quarterly earnings data on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.02. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.94 billion. Chipotle Mexican Grill had a return on equity of 44.01% and a net margin of 13.23%. The company’s revenue for the quarter was up 18.2% compared to the same quarter last year. In the same quarter in the previous year, the business earned $12.65 EPS. As a group, equities research analysts expect Chipotle Mexican Grill, Inc. to post 1.09 earnings per share for the current year.

Insiders place their bets

In related news, insider Curtis E. Garner sold 17,394 shares of Chipotle Mexican Grill stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $54.68, for a total transaction of $951,103.92. Following the completion of the sale, the insider now directly owns 358,300 shares of the company’s stock, valued at $19,591,844. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC’s website. Company insiders own 1.02% of the company’s shares.

Institutional investors weigh in on Chipotle Mexican Grill

Several large investors have recently made changes to their positions in CMG. Thurston Springer Miller Herd & Titak Inc. bought a new position in Chipotle Mexican Grill in the second quarter valued at approximately $25,000. Riverview Trust Co boosted its holdings in shares of Chipotle Mexican Grill by 4,900.0% in the second quarter. Riverview Trust Co now owns 400 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 392 shares during the last quarter. RiverPark Advisors LLC raised its stake in shares of Chipotle Mexican Grill by 4,900.0% in the second quarter. RiverPark Advisors LLC now owns 400 shares of the restaurant operator’s stock valued at $25,000 after buying an additional 392 shares during the last quarter. Archer Investment Corp bought a new position in Chipotle Mexican Grill in the second quarter valued at about $25,000. Finally, Chilton Capital Management LLC acquired a new stake in Chipotle Mexican Grill in the second quarter valued at approximately $27,000. Institutional investors own 91.31% of the company’s shares.

About Chipotle Mexican Grill

(Get a free report)

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. Sell food and beverages by offering burritos, burrito bowls, quesadillas, tacos and salads. The company also offers delivery and related services, its app and website. It has operations in the United States, Canada, France, Germany and the United Kingdom.