Chipotle Mexican Grill (NYSE:CMG) Shares Up 0% – Here’s What Happened

Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) rose 0% during mid-day trading on Wednesday . The stock traded as high as $61.26 and last traded at $60.52. Approximately 1,650,406 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 13,877,239 shares. The stock had previously closed at $60.49.

Analysts Set New Price Targets

Several analysts have commented on the company. Stephens reaffirmed an “equal weight” rating and set a $65.00 price objective on shares of Chipotle Mexican Grill in a research report on Tuesday. Guggenheim increased their price target on shares of Chipotle Mexican Grill from $54.50 to $55.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Truist Financial boosted their target price on Chipotle Mexican Grill from $71.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company raised their price objective on Chipotle Mexican Grill from $66.00 to $67.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Piper Sandler boosted their price objective on shares of Chipotle Mexican Grill from $59.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $64.47.

Chipotle Mexican Grill Stock Performance

The firm’s fifty day simple moving average is $57.66 and its 200-day simple moving average is $81.40. The stock has a market cap of $81.28 billion, a P/E ratio of 56.47, a price-to-earnings-growth ratio of 2.44 and a beta of 1.26.

Chipotle Mexican Grill (NYSE:CMG) last announced its earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 EPS for the quarter, beating the consensus estimate of $0.25 by $0.02. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.82 billion. Chipotle Mexican Grill had a return on equity of 43.20% and a net margin of 13.51%. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.23 EPS. Analysts predict that Chipotle Mexican Grill, Inc. will post 1.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Curtis E. Garner sold 15,750 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $57.05, for a total value of $898,537.50. Following the transaction, the insider now owns 457,764 shares of the company’s stock, valued at $26,115,436.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Robin S. Hickenlooper sold 1,790 shares of Chipotle Mexican Grill stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $56.38, for a total value of $100,920.20. Following the transaction, the director now owns 41,510 shares in the company, valued at $2,340,333.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Curtis E. Garner sold 15,750 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $57.05, for a total transaction of $898,537.50. Following the sale, the insider now owns 457,764 shares of the company’s stock, valued at approximately $26,115,436.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,290 shares of company stock valued at $1,866,023 in the last quarter. Corporate insiders own 1.02% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CMG. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Chipotle Mexican Grill in the second quarter valued at $25,000. Riverview Trust Co lifted its holdings in shares of Chipotle Mexican Grill by 4,900.0% during 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 grew its stake in shares of Chipotle Mexican Grill by 4,900.0% in the 2nd quarter. RiverPark Advisors LLC now owns 400 shares of the restaurant operator’s stock worth $25,000 after buying an additional 392 shares during the last quarter. Archer Investment Corp bought a new position in Chipotle Mexican Grill during the 2nd quarter valued at approximately $25,000. Finally, Oliver Lagore Vanvalin Investment Group increased its position in Chipotle Mexican Grill by 4,900.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the restaurant operator’s stock valued at $25,000 after buying an additional 392 shares in the last quarter. 91.31% of the stock is owned by hedge funds and other institutional investors.

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.