William Blair Analysts Boost Earnings Estimates for Chipotle Mexican Grill, Inc. (NYSE:CMG)

Chipotle Mexican Grill, Inc. (NYSE:CMG) – Equities researchers at William Blair lifted their Q1 2024 earnings per share estimates for shares of Chipotle Mexican Grill in a research report issued to clients and investors on Tuesday, April 16th. William Blair analyst S. Zackfia now anticipates that the restaurant operator will post earnings of $12.19 per share for the quarter, up from their prior estimate of $11.47. The consensus estimate for Chipotle Mexican Grill’s current full-year earnings is $53.36 per share. William Blair also issued estimates for Chipotle Mexican Grill’s Q2 2024 earnings at $14.65 EPS, Q3 2024 earnings at $13.40 EPS, Q4 2024 earnings at $12.68 EPS, FY2024 earnings at $52.92 EPS and FY2025 earnings at $65.62 EPS.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Tuesday, February 6th. The restaurant operator reported $10.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.73 by $0.63. The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.49 billion. Chipotle Mexican Grill had a return on equity of 44.41% and a net margin of 12.45%. Chipotle Mexican Grill’s revenue was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $8.29 earnings per share.

Several other research analysts have also recently weighed in on the stock. Stephens assumed coverage on shares of Chipotle Mexican Grill in a report on Friday, April 12th. They set an “equal weight” rating and a $3,010.00 price target on the stock. Evercore ISI upped their target price on Chipotle Mexican Grill from $2,900.00 to $3,200.00 and gave the company an “outperform” rating in a report on Thursday. Piper Sandler lifted their price target on Chipotle Mexican Grill from $1,930.00 to $2,226.00 and gave the stock a “neutral” rating in a report on Tuesday, January 16th. Citigroup upped their price objective on Chipotle Mexican Grill from $3,016.00 to $3,358.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, KeyCorp lifted their target price on Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. Eleven research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2,759.14.

Chipotle Mexican Grill Price Performance

CMG opened at $2,870.07 on Thursday. Chipotle Mexican Grill has a 1 year low of $1,768.64 and a 1 year high of $3,023.98. The company has a market capitalization of $78.70 billion, a price-to-earnings ratio of 64.71, a P/E/G ratio of 2.46 and a beta of 1.28. The firm’s fifty day moving average price is $2,783.24 and its two-hundred day moving average price is $2,385.67.

Chipotle Mexican Grill shares are set 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 issued to shareholders after the market closes on Tuesday, June 25th.

Insiders Place Their Bets

In related news, insider Christopher W. Brandt sold 3,149 shares of Chipotle Mexican Grill stock in a transaction 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 completion of the sale, the insider now owns 8,563 shares of the company’s stock, valued at $25,071,093.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Christopher W. Brandt sold 3,149 shares of the firm’s stock in a transaction 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 sale, the insider now owns 8,563 shares in the company, valued at approximately $25,071,093.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Brian R. Niccol sold 1,996 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $2,399.91, for a total transaction of $4,790,220.36. Following the completion of the transaction, the chief executive officer now owns 22,447 shares of the company’s stock, valued at $53,870,779.77. The disclosure for this sale can be found here. Insiders have sold 6,793 shares of company stock worth $18,321,152 in the last three months. 0.96% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Northern Trust Corp boosted its holdings in Chipotle Mexican Grill by 5.0% during the 3rd quarter. Northern Trust Corp now owns 283,203 shares of the restaurant operator’s stock valued at $518,780,000 after acquiring an additional 13,513 shares during the period. Covestor Ltd increased its stake in shares of Chipotle Mexican Grill by 9.2% in the third quarter. Covestor Ltd now owns 95 shares of the restaurant operator’s stock worth $174,000 after buying an additional 8 shares during the period. NewEdge Wealth LLC purchased a new position in shares of Chipotle Mexican Grill in the third quarter worth $205,000. Laidlaw Wealth Management LLC raised its holdings in Chipotle Mexican Grill by 69.8% during the 3rd quarter. Laidlaw Wealth Management LLC now owns 270 shares of the restaurant operator’s stock valued at $495,000 after buying an additional 111 shares during the last quarter. Finally, Clearstead Advisors LLC grew its holdings in Chipotle Mexican Grill by 0.7% in the 3rd quarter. Clearstead Advisors LLC now owns 773 shares of the restaurant operator’s stock worth $1,416,000 after acquiring an additional 5 shares during the last quarter. 91.31% of the stock is currently owned by 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.