Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $3,100.00

Chipotle Mexican Grill (NYSE:CMG) had its price target hoisted by Morgan Stanley from $2,986.00 to $3,100.00 in a research note published on Thursday, Benzinga reports. They currently have an equal weight rating on the restaurant operator’s stock.

Other equities research analysts also recently issued reports about the company. Evercore ISI boosted their price target on Chipotle Mexican Grill from $3,200.00 to $3,600.00 and gave the company an outperform rating in a report on Thursday. Oppenheimer restated an outperform rating and set a $3,300.00 price objective (up previously from $2,825.00) on shares of Chipotle Mexican Grill in a research report on Thursday. Wedbush boosted their price objective on Chipotle Mexican Grill from $2,850.00 to $3,200.00 and gave the company a neutral rating in a research report on Thursday. KeyCorp boosted their price objective on Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the company an overweight rating in a research report on Tuesday, April 9th. Finally, Wells Fargo & Company boosted their price target on Chipotle Mexican Grill from $3,285.00 to $3,300.00 and gave the stock an overweight rating in a research report on Thursday. Eleven equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, Chipotle Mexican Grill presently has an average rating of Moderate Buy and an average price target of $3,057.68.

Chipotle Mexican Grill Trading Up 1.4 %

CMG stock traded up $44.54 during midday trading on Thursday, hitting $3,156.51. 23,849 shares of the company’s stock were exchanged, compared to its average volume of 238,875. Chipotle Mexican Grill has a 12-month low of $1,768.64 and a 12-month high of $3,175.00. The firm has a 50 day moving average price of $2,811.11 and a 200-day moving average price of $2,416.65. The stock has a market capitalization of $86.71 billion, a price-to-earnings ratio of 67.09, a price-to-earnings-growth ratio of 2.48 and a beta of 1.28.

Chipotle Mexican Grill shares are going to split before the market opens on 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.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share for the quarter, beating analysts’ consensus estimates of $11.63 by $1.74. Chipotle Mexican Grill had a return on equity of 45.46% and a net margin of 12.70%. The business had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.67 billion. On average, sell-side analysts forecast that Chipotle Mexican Grill will post 53.49 EPS for the current fiscal year.

Insider Activity at Chipotle Mexican Grill

In related news, insider Christopher W. Brandt sold 3,149 shares of the company’s 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 transaction, the insider now directly 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 Securities & Exchange Commission, which can be accessed through this link. In other Chipotle Mexican Grill news, CEO Brian R. Niccol sold 1,996 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $2,399.91, for a total value of $4,790,220.36. Following the transaction, the chief executive officer now owns 22,447 shares in the company, valued at $53,870,779.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher W. Brandt sold 3,149 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $2,927.84, for a total value of $9,219,768.16. Following the sale, the insider now owns 8,563 shares of the company’s stock, valued at approximately $25,071,093.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,793 shares of company stock valued at $18,321,152. Company insiders own 0.96% of the company’s stock.

Institutional Trading of Chipotle Mexican Grill

Several large investors have recently made changes to their positions in CMG. IFP Advisors Inc boosted its stake in shares of Chipotle Mexican Grill by 13.6% during the 3rd quarter. IFP Advisors Inc now owns 134 shares of the restaurant operator’s stock worth $245,000 after acquiring an additional 16 shares in the last quarter. Flagship Harbor Advisors LLC bought a new stake in shares of Chipotle Mexican Grill during the 3rd quarter worth about $203,000. DAVENPORT & Co LLC boosted its stake in shares of Chipotle Mexican Grill by 9.4% during the 3rd quarter. DAVENPORT & Co LLC now owns 291 shares of the restaurant operator’s stock worth $533,000 after acquiring an additional 25 shares in the last quarter. Meridian Wealth Management LLC boosted its stake in 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 during the period. Finally, Caprock Group LLC boosted its stake in 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 during the period. Institutional investors 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.