Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $2,850.00 at BMO Capital Markets

Chipotle Mexican Grill (NYSE:CMG) had its target price upped by BMO Capital Markets from $2,400.00 to $2,850.00 in a report issued on Thursday morning, Benzinga reports. They currently have a market perform rating on the restaurant operator’s stock.

Other research analysts have also recently issued reports about the company. Citigroup lifted their price target on Chipotle Mexican Grill from $3,016.00 to $3,358.00 and gave the company a buy rating in a report on Monday, April 8th. Morgan Stanley boosted their price objective on Chipotle Mexican Grill from $2,986.00 to $3,100.00 and gave the stock an equal weight rating in a report on Thursday. Wells Fargo & Company boosted their price objective on Chipotle Mexican Grill from $3,285.00 to $3,300.00 and gave the stock an overweight rating in a report on Thursday. KeyCorp boosted their price objective on Chipotle Mexican Grill from $3,250.00 to $3,400.00 and gave the stock an overweight rating in a report on Thursday. Finally, Argus boosted their price objective on Chipotle Mexican Grill from $3,265.00 to $3,366.00 and gave the stock a buy rating in a report on Thursday, April 4th. Eleven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $3,057.68.

Chipotle Mexican Grill Stock Up 2.3 %

CMG traded up $71.82 during trading on Thursday, reaching $3,183.79. 228,919 shares of the company’s stock were exchanged, compared to its average volume of 241,128. Chipotle Mexican Grill has a fifty-two week low of $1,768.64 and a fifty-two week high of $3,199.99. The business has a 50 day moving average price of $2,811.11 and a 200 day moving average price of $2,416.65. The company has a market capitalization of $87.46 billion, a P/E ratio of 67.09, a PEG ratio of 2.48 and a beta of 1.28.

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

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 EPS for the quarter, beating the consensus estimate of $11.63 by $1.74. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 45.46%. The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.67 billion. As a group, research analysts forecast that Chipotle Mexican Grill will post 53.49 EPS for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of institutional investors have recently modified their holdings of CMG. IFP Advisors Inc grew its stake in Chipotle Mexican Grill by 13.6% during the third quarter. IFP Advisors Inc now owns 134 shares of the restaurant operator’s stock worth $245,000 after buying an additional 16 shares during the period. Flagship Harbor Advisors LLC bought a new position in Chipotle Mexican Grill in the 3rd quarter valued at about $203,000. DAVENPORT & Co LLC grew its position in Chipotle Mexican Grill by 9.4% in the 3rd quarter. DAVENPORT & Co LLC now owns 291 shares of the restaurant operator’s stock valued at $533,000 after buying an additional 25 shares in the last quarter. Meridian Wealth Management LLC boosted its position in shares of Chipotle Mexican Grill by 291.2% during the 3rd quarter. Meridian Wealth Management LLC now owns 442 shares of the restaurant operator’s stock valued at $810,000 after purchasing an additional 329 shares in the last quarter. Finally, Caprock Group LLC boosted its position in shares of Chipotle Mexican Grill by 4.0% during the 3rd quarter. Caprock Group LLC now owns 208 shares of the restaurant operator’s stock valued at $381,000 after purchasing an additional 8 shares in the last quarter. Institutional investors and hedge funds own 91.31% of the company’s stock.

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.