Wedbush Comments on Chipotle Mexican Grill, Inc.’s Q3 2024 Earnings (NYSE:CMG)

Chipotle Mexican Grill, Inc. (NYSE:CMG) – Wedbush lifted their Q3 2024 EPS estimates for shares of Chipotle Mexican Grill in a report issued on Thursday, April 25th. Wedbush analyst N. Setyan now expects that the restaurant operator will post earnings of $13.81 per share for the quarter, up from their prior estimate of $13.61. Wedbush currently has a “Neutral” rating and a $3,200.00 target price on the stock. The consensus estimate for Chipotle Mexican Grill’s current full-year earnings is $55.08 per share. Wedbush also issued estimates for Chipotle Mexican Grill’s FY2024 earnings at $56.08 EPS, Q1 2025 earnings at $15.74 EPS, Q3 2025 earnings at $17.25 EPS and Q4 2025 earnings at $16.98 EPS.

Other research analysts have also issued reports about the stock. Citigroup increased their price target on shares of Chipotle Mexican Grill from $3,358.00 to $3,369.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Robert W. Baird lifted their target price on shares of Chipotle Mexican Grill from $3,250.00 to $3,500.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. UBS Group upped their price target on Chipotle Mexican Grill from $3,400.00 to $3,500.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Barclays lifted their price objective on Chipotle Mexican Grill from $2,400.00 to $2,865.00 and gave the company an “equal weight” rating in a research note on Thursday, April 25th. Finally, KeyCorp increased their target price on Chipotle Mexican Grill from $3,250.00 to $3,400.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Ten equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $3,137.12.

Chipotle Mexican Grill Stock Down 1.7 %

Shares of CMG stock opened at $3,156.12 on Monday. The business’s fifty day moving average is $2,846.57 and its 200 day moving average is $2,454.12. The stock has a market cap of $86.70 billion, a price-to-earnings ratio of 67.35, a PEG ratio of 2.58 and a beta of 1.28. Chipotle Mexican Grill has a twelve month low of $1,768.64 and a twelve month high of $3,241.42.

Shares of Chipotle Mexican Grill are going to split on Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly issued shares will be distributed to shareholders after the market closes on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share for the quarter, topping analysts’ consensus estimates of $11.63 by $1.74. The firm had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.67 billion. Chipotle Mexican Grill had a return on equity of 43.74% and a net margin of 12.70%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Steph & Co. purchased a new stake in shares of Chipotle Mexican Grill during the first quarter valued at $29,000. Fortitude Family Office LLC purchased a new stake in Chipotle Mexican Grill in the 4th quarter valued at about $32,000. Turtle Creek Wealth Advisors LLC bought a new position in Chipotle Mexican Grill in the 4th quarter worth about $37,000. ICA Group Wealth Management LLC bought a new position in Chipotle Mexican Grill in the 4th quarter worth about $37,000. Finally, Keener Financial Planning LLC purchased a new position in shares of Chipotle Mexican Grill during the fourth quarter worth approximately $43,000. Institutional investors own 91.31% of the company’s stock.

Insider Buying and Selling

In other Chipotle Mexican Grill news, Director Albert S. Baldocchi sold 750 shares of Chipotle Mexican Grill stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $2,608.51, for a total value of $1,956,382.50. Following the sale, the director now directly owns 37,271 shares in the company, valued at approximately $97,221,776.21. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Brian R. Niccol sold 6,406 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 22,669 shares of the company’s stock, valued at approximately $72,221,620.48. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Albert S. Baldocchi sold 750 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $2,608.51, for a total transaction of $1,956,382.50. Following the transaction, the director now owns 37,271 shares in the company, valued at approximately $97,221,776.21. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,812 shares of company stock worth $48,554,701. 0.96% of the stock is owned by insiders.

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.