BTIG Research Boosts Chipotle Mexican Grill (NYSE:CMG) Price Target to $3,250.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective lifted by equities researchers at BTIG Research from $2,750.00 to $3,250.00 in a report released on Thursday, Briefing.com reports. The firm presently has a “buy” rating on the restaurant operator’s stock. BTIG Research’s target price points to a potential upside of 11.17% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. TD Cowen increased their target price on Chipotle Mexican Grill from $2,650.00 to $2,900.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Barclays increased their target price on Chipotle Mexican Grill from $2,246.00 to $2,400.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Oppenheimer increased their target price on Chipotle Mexican Grill from $2,225.00 to $2,525.00 and gave the company an “outperform” rating in a report on Friday, January 5th. Citigroup raised their price objective on Chipotle Mexican Grill from $2,699.00 to $3,016.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Finally, Stifel Nicolaus raised their price objective on Chipotle Mexican Grill from $2,450.00 to $2,560.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Nine research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2,566.37.

Chipotle Mexican Grill Stock Down 1.1 %

NYSE:CMG opened at $2,923.46 on Thursday. The stock has a market capitalization of $80.16 billion, a price-to-earnings ratio of 65.92, a price-to-earnings-growth ratio of 2.53 and a beta of 1.29. Chipotle Mexican Grill has a 52 week low of $1,633.71 and a 52 week high of $3,023.98. The stock’s fifty day moving average is $2,605.55 and its two-hundred day moving average is $2,262.45.

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

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Tuesday, February 6th. The restaurant operator reported $10.36 EPS for the quarter, beating the consensus estimate of $9.73 by $0.63. The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates 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 for the quarter 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. On average, sell-side analysts expect that Chipotle Mexican Grill will post 53.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other Chipotle Mexican Grill 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 value of $9,219,768.16. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Chipotle Mexican Grill news, CEO Brian R. Niccol sold 1,100 shares of Chipotle Mexican Grill stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $2,278.45, for a total value of $2,506,295.00. Following the completion of the sale, the chief executive officer now directly owns 22,447 shares of the company’s stock, valued at approximately $51,144,367.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher W. Brandt sold 3,149 shares of Chipotle Mexican Grill stock in a transaction that occurred 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 directly owns 8,563 shares of the company’s stock, valued at $25,071,093.92. The disclosure for this sale can be found here. In the last three months, insiders sold 7,893 shares of company stock valued at $20,827,447. Company insiders own 0.96% of the company’s stock.

Institutional Trading of Chipotle Mexican Grill

Several institutional investors have recently made changes to their positions in CMG. Panagora Asset Management Inc. grew its stake in shares of Chipotle Mexican Grill by 79.5% during the 1st quarter. Panagora Asset Management Inc. now owns 948 shares of the restaurant operator’s stock valued at $1,500,000 after buying an additional 420 shares during the period. Cibc World Market Inc. grew its stake in shares of Chipotle Mexican Grill by 15.5% during the 1st quarter. Cibc World Market Inc. now owns 171 shares of the restaurant operator’s stock valued at $271,000 after buying an additional 23 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of Chipotle Mexican Grill by 7.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 3,032 shares of the restaurant operator’s stock valued at $4,796,000 after buying an additional 205 shares during the period. Cetera Investment Advisers grew its stake in shares of Chipotle Mexican Grill by 6.1% during the 1st quarter. Cetera Investment Advisers now owns 777 shares of the restaurant operator’s stock valued at $1,229,000 after buying an additional 45 shares during the period. Finally, Sequoia Financial Advisors LLC grew its stake in shares of Chipotle Mexican Grill by 38.9% during the 1st quarter. Sequoia Financial Advisors LLC now owns 218 shares of the restaurant operator’s stock valued at $345,000 after buying an additional 61 shares during the period. 91.31% of the stock is owned by hedge funds and other 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.