Chipotle Mexican Grill, Inc. (NYSE:CMG) Sees Significant Growth in Short Interest

Chipotle Mexican Grill, Inc. (NYSE:CMGGet Free Report) was the target of a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 870,500 shares, a growth of 12.2% from the May 15th total of 776,100 shares. Based on an average trading volume of 261,000 shares, the short-interest ratio is currently 3.3 days. Currently, 3.2% of the shares of the company are sold short.

Insider Activity

In related news, CEO Brian R. Niccol sold 6,406 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $3,185.92, for a total transaction of $20,409,003.52. Following the completion of the transaction, the chief executive officer now directly owns 22,669 shares in the company, valued at $72,221,620.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Christopher W. Brandt sold 3,149 shares of Chipotle Mexican Grill stock in a transaction that occurred on 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 transaction, the insider now directly owns 8,563 shares of the company’s stock, valued at approximately $25,071,093.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Brian R. Niccol sold 6,406 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $3,185.92, for a total transaction of $20,409,003.52. Following the sale, the chief executive officer now directly owns 22,669 shares in the company, valued at $72,221,620.48. The disclosure for this sale can be found here. Insiders have sold 14,164 shares of company stock valued at $44,243,538 in the last ninety days. Insiders own 1.02% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

Hedge funds have recently bought and sold shares of the company. Byrne Asset Management LLC increased its stake in Chipotle Mexican Grill by 11.8% during the first quarter. Byrne Asset Management LLC now owns 38 shares of the restaurant operator’s stock worth $110,000 after purchasing an additional 4 shares during the period. Evermay Wealth Management LLC boosted its position in Chipotle Mexican Grill by 1.8% in the 4th quarter. Evermay Wealth Management LLC now owns 231 shares of the restaurant operator’s stock valued at $528,000 after buying an additional 4 shares during the period. Peloton Wealth Strategists grew its stake in shares of Chipotle Mexican Grill by 0.3% in the fourth quarter. Peloton Wealth Strategists now owns 1,451 shares of the restaurant operator’s stock worth $3,318,000 after acquiring an additional 4 shares in the last quarter. Hazlett Burt & Watson Inc. increased its position in shares of Chipotle Mexican Grill by 19.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 25 shares of the restaurant operator’s stock worth $73,000 after acquiring an additional 4 shares during the period. Finally, Diversified Trust Co increased its position in shares of Chipotle Mexican Grill by 0.9% during the first quarter. Diversified Trust Co now owns 474 shares of the restaurant operator’s stock worth $1,378,000 after acquiring an additional 4 shares during the period. Institutional investors and hedge funds own 91.31% of the company’s stock.

Chipotle Mexican Grill Price Performance

CMG traded up $62.36 during trading hours on Tuesday, reaching $3,427.82. The company’s stock had a trading volume of 693,944 shares, compared to its average volume of 250,278. The stock has a market cap of $94.16 billion, a PE ratio of 73.15, a P/E/G ratio of 2.60 and a beta of 1.25. Chipotle Mexican Grill has a fifty-two week low of $1,768.64 and a fifty-two week high of $3,463.07. The business’s 50-day moving average is $3,121.24 and its 200-day moving average is $2,732.93.

Shares of Chipotle Mexican Grill are scheduled to split on the morning of Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly created shares will be payable to shareholders after the closing bell on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMGGet Free Report) last released its quarterly earnings results on Wednesday, April 24th. 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 net margin of 12.70% and a return on equity of 43.74%. The business had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.67 billion. Analysts expect that Chipotle Mexican Grill will post 55.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CMG shares. Jefferies Financial Group increased their target price on shares of Chipotle Mexican Grill from $2,350.00 to $2,700.00 and gave the stock a “hold” rating in a research note on Tuesday, April 16th. Morgan Stanley boosted their price objective on 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, April 25th. The Goldman Sachs Group initiated coverage on Chipotle Mexican Grill in a research report on Thursday, June 13th. They set a “buy” rating and a $3,730.00 target price on the stock. Piper Sandler boosted their price target on shares of Chipotle Mexican Grill from $2,442.00 to $3,070.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Finally, KeyCorp increased their price objective on shares of Chipotle Mexican Grill from $3,250.00 to $3,400.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $3,201.19.

Get Our Latest Analysis on Chipotle Mexican Grill

Chipotle Mexican Grill Company Profile

(Get Free Report)

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.

Further Reading

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