Chipotle Mexican Grill (NYSE:CMG) Shares Up 2.8% – Here’s Why

Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) shot up 2.8% on Monday . The company traded as high as $61.21 and last traded at $61.10. 3,338,563 shares were traded during mid-day trading, a decline of 76% from the average session volume of 13,841,781 shares. The stock had previously closed at $59.44.

Wall Street Analyst Weigh In

Several research firms have commented on CMG. Wedbush restated an “outperform” rating and issued a $58.00 target price on shares of Chipotle Mexican Grill in a research report on Thursday, August 29th. Oppenheimer reaffirmed an “outperform” rating and set a $65.00 target price on shares of Chipotle Mexican Grill in a research note on Monday, September 30th. The Goldman Sachs Group lowered their price target on Chipotle Mexican Grill from $74.60 to $67.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Chipotle Mexican Grill in a report on Wednesday, August 14th. Finally, Piper Sandler boosted their price target on shares of Chipotle Mexican Grill from $56.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, Chipotle Mexican Grill has an average rating of “Moderate Buy” and a consensus target price of $63.32.

Chipotle Mexican Grill Price Performance

The stock has a market cap of $82.83 billion, a P/E ratio of 59.29, a P/E/G ratio of 2.41 and a beta of 1.25. The company’s 50 day simple moving average is $57.10 and its 200 day simple moving average is $81.50.

Insider Transactions at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 17,394 shares of Chipotle Mexican Grill stock in a transaction on 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 transaction, the insider now directly owns 358,300 shares of the company’s stock, valued at $19,591,844. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 17,394 shares of the 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 sale, the insider now directly owns 358,300 shares in the company, valued at $19,591,844. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Curtis E. Garner sold 15,750 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $57.05, for a total value of $898,537.50. Following the completion of the sale, the insider now directly owns 457,764 shares in the company, valued at $26,115,436.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,684 shares of company stock worth $2,817,127 in the last three months. Insiders own 1.02% of the company’s stock.

Institutional Investors Weigh In On Chipotle Mexican Grill

Institutional investors have recently modified their holdings of the company. Wealthcare Advisory Partners LLC purchased a new position in shares of Chipotle Mexican Grill during the first quarter valued at approximately $279,000. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Chipotle Mexican Grill by 0.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 71,834 shares of the restaurant operator’s stock valued at $208,805,000 after purchasing an additional 473 shares during the period. Valeo Financial Advisors LLC raised its stake in shares of Chipotle Mexican Grill by 84.1% during the 1st quarter. Valeo Financial Advisors LLC now owns 416 shares of the restaurant operator’s stock worth $1,210,000 after purchasing an additional 190 shares during the period. Valley National Advisers Inc. grew its position in Chipotle Mexican Grill by 9.8% during the first quarter. Valley National Advisers Inc. now owns 45 shares of the restaurant operator’s stock valued at $131,000 after buying an additional 4 shares during the period. Finally, Norden Group LLC purchased a new stake in Chipotle Mexican Grill during the first quarter worth about $2,163,000. 91.31% of the stock is owned by institutional investors.

Chipotle Mexican Grill Company Profile

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.