Chipotle Mexican Grill (NYSE:CMG) Reaches New 12-Month High After Better-Than-Expected Earnings

Chipotle Mexican Grill, Inc. (NYSE:CMG)’s share price reached a new 52-week high during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $3,026.00 and last traded at $3,026.00, with a volume of 4855 shares traded. The stock had previously closed at $2,926.76.

The restaurant operator reported $13.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.63 by $1.74. Chipotle Mexican Grill had a return on equity of 45.46% and a net margin of 12.70%. The firm had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.67 billion.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CMG shares. Stifel Nicolaus boosted their price target on Chipotle Mexican Grill from $2,700.00 to $3,270.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Jefferies Financial Group increased their target price on Chipotle Mexican Grill from $2,350.00 to $2,700.00 and gave the company a “hold” rating in a research note on Tuesday, April 16th. Morgan Stanley increased their target price on Chipotle Mexican Grill from $2,986.00 to $3,100.00 and gave the company an “equal weight” rating in a research note on Thursday. Argus increased their target price on Chipotle Mexican Grill from $3,265.00 to $3,366.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Finally, Wedbush increased their target price on Chipotle Mexican Grill from $2,850.00 to $3,200.00 and gave the company a “neutral” rating in a research note on Thursday. Ten research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $3,137.12.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, insider Christopher W. Brandt sold 3,149 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $2,927.84, for a total transaction of $9,219,768.16. Following the transaction, the insider now owns 8,563 shares of the company’s stock, valued at approximately $25,071,093.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Christopher W. Brandt sold 3,149 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was 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 document filed with the SEC, which is available at the SEC website. Also, insider Roger E. Theodoredis sold 898 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $2,622.25, for a total value of $2,354,780.50. Following the completion of the sale, the insider now directly owns 1,529 shares in the company, valued at approximately $4,009,420.25. The disclosure for this sale can be found here. Insiders have sold a total of 6,793 shares of company stock valued at $18,321,152 in the last quarter. Insiders own 0.96% of the company’s stock.

Institutional Trading of Chipotle Mexican Grill

Several hedge funds have recently made changes to their positions in the stock. Northwest Bancshares Inc. bought a new stake in Chipotle Mexican Grill during the 1st quarter valued at $331,000. SlateStone Wealth LLC bought a new stake in Chipotle Mexican Grill during the 1st quarter valued at $265,000. Mesirow Financial Investment Management Inc. bought a new stake in Chipotle Mexican Grill during the 1st quarter valued at $230,000. Emerald Advisors LLC bought a new stake in Chipotle Mexican Grill during the 1st quarter valued at $872,000. Finally, Meridian Wealth Management LLC raised its stake in Chipotle Mexican Grill by 4.0% during the 1st quarter. Meridian Wealth Management LLC now owns 234 shares of the restaurant operator’s stock valued at $680,000 after acquiring an additional 9 shares in the last quarter. Institutional investors own 91.31% of the company’s stock.

Chipotle Mexican Grill Stock Performance

The firm has a 50 day simple moving average of $2,822.95 and a two-hundred day simple moving average of $2,426.07. The stock has a market cap of $87.60 billion, a P/E ratio of 68.06, a P/E/G ratio of 2.48 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 minted shares will be issued to shareholders after the market closes on Tuesday, June 25th.

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.