Chipotle Mexican Grill (NYSE:CMG) Issues Earnings Results, Beats Estimates By $1.74 EPS

Chipotle Mexican Grill (NYSE:CMG) released its quarterly earnings data on Wednesday. The restaurant operator reported $13.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.63 by $1.74, reports. The business had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 43.74%.

Chipotle Mexican Grill Price Performance

Shares of CMG stock traded up $75.00 on Friday, hitting $3,186.97. The stock had a trading volume of 336,557 shares, compared to its average volume of 254,209. The business has a 50 day moving average of $2,822.95 and a 200 day moving average of $2,426.07. The stock has a market cap of $87.55 billion, a price-to-earnings ratio of 68.01, a price-to-earnings-growth ratio of 2.60 and a beta of 1.28. Chipotle Mexican Grill has a 12-month low of $1,768.64 and a 12-month high of $3,199.99.

Chipotle Mexican Grill’s stock is going to split on the morning of Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly minted shares will be payable to shareholders after the closing bell on Tuesday, June 25th.

Insider Buying and Selling

In related news, insider Christopher W. Brandt sold 3,149 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $2,927.84, for a total transaction of $9,219,768.16. Following the completion of the sale, the insider now owns 8,563 shares in the company, valued at $25,071,093.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Christopher W. Brandt sold 3,149 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $2,927.84, for a total transaction of $9,219,768.16. Following the completion of the sale, the insider now owns 8,563 shares in the company, valued at $25,071,093.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Albert S. Baldocchi sold 750 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $2,608.51, for a total transaction of $1,956,382.50. Following the sale, the director now owns 37,271 shares of the company’s stock, valued at approximately $97,221,776.21. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,793 shares of company stock worth $18,321,152. Insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CMG. CWM LLC boosted its position in Chipotle Mexican Grill by 2.6% during the third quarter. CWM LLC now owns 476 shares of the restaurant operator’s stock worth $872,000 after purchasing an additional 12 shares during the period. AE Wealth Management LLC boosted its position in shares of Chipotle Mexican Grill by 8.7% in the third quarter. AE Wealth Management LLC now owns 1,013 shares of the restaurant operator’s stock valued at $1,856,000 after acquiring an additional 81 shares during the period. IFP Advisors Inc boosted its position in shares of Chipotle Mexican Grill by 13.6% in the third quarter. IFP Advisors Inc now owns 134 shares of the restaurant operator’s stock valued at $245,000 after acquiring an additional 16 shares during the period. Global Retirement Partners LLC boosted its position in shares of Chipotle Mexican Grill by 4.5% in the third quarter. Global Retirement Partners LLC now owns 140 shares of the restaurant operator’s stock valued at $260,000 after acquiring an additional 6 shares during the period. Finally, PFG Advisors boosted its position in shares of Chipotle Mexican Grill by 7.5% in the third quarter. PFG Advisors now owns 129 shares of the restaurant operator’s stock valued at $237,000 after acquiring an additional 9 shares during the period. Institutional investors own 91.31% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Wedbush upped their price objective on shares of Chipotle Mexican Grill from $2,850.00 to $3,200.00 and gave the stock a “neutral” rating in a research report on Thursday. BMO Capital Markets upped their price target on shares of Chipotle Mexican Grill from $2,400.00 to $2,850.00 and gave the company a “market perform” rating in a research report on Thursday. Sanford C. Bernstein upped their price target on shares of Chipotle Mexican Grill from $2,800.00 to $3,200.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Morgan Stanley upped their price target on shares of Chipotle Mexican Grill from $2,986.00 to $3,100.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Citigroup upped their price target on shares of Chipotle Mexican Grill from $3,358.00 to $3,369.00 and gave the company a “buy” rating in a research report on Thursday. Ten research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, Chipotle Mexican Grill currently has a consensus rating of “Moderate Buy” and an average target price of $3,137.12.

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.