Evercore ISI Increases Chipotle Mexican Grill (NYSE:CMG) Price Target to $3,600.00

Chipotle Mexican Grill (NYSE:CMG) had its price target hoisted by Evercore ISI from $3,200.00 to $3,600.00 in a research report report published on Thursday, Benzinga reports. They currently have an outperform rating on the restaurant operator’s stock.

CMG has been the topic of a number of other reports. Wedbush increased their price objective on shares of Chipotle Mexican Grill from $2,850.00 to $3,200.00 and gave the company a neutral rating in a research report on Thursday. UBS Group upped their target price on shares of Chipotle Mexican Grill from $2,900.00 to $3,400.00 and gave the company a buy rating in a report on Thursday, April 11th. Wells Fargo & Company upped their target price on shares of Chipotle Mexican Grill from $2,600.00 to $2,800.00 and gave the company an overweight rating in a report on Wednesday, February 7th. Citigroup upped their target price on shares of 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. Finally, KeyCorp upped their target price on shares of Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the company an overweight rating in a report on Tuesday, April 9th. Eleven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Chipotle Mexican Grill currently has a consensus rating of Moderate Buy and an average target price of $3,057.68.

Chipotle Mexican Grill Stock Up 1.4 %

NYSE:CMG traded up $44.54 on Thursday, hitting $3,156.51. The stock had a trading volume of 23,849 shares, compared to its average volume of 238,875. The stock has a market cap of $86.71 billion, a price-to-earnings ratio of 67.09, a PEG ratio of 2.48 and a beta of 1.28. The company has a fifty day moving average price of $2,811.11 and a two-hundred day moving average price of $2,416.65. Chipotle Mexican Grill has a 1-year low of $1,768.64 and a 1-year high of $3,175.00.

Chipotle Mexican Grill’s stock is going to split before the market opens on Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly issued shares will be payable to shareholders after the closing bell on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last announced its earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share for the quarter, topping 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 firm had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.67 billion. As a group, analysts anticipate that Chipotle Mexican Grill will post 53.49 earnings per share for the current year.

Insider Activity

In other Chipotle Mexican Grill news, CEO Brian R. Niccol sold 1,996 shares of the firm’s 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 transaction, the chief executive officer now directly owns 22,447 shares in the company, valued at approximately $53,870,779.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Brian R. Niccol sold 1,996 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $2,399.91, for a total value of $4,790,220.36. Following the sale, the chief executive officer now directly owns 22,447 shares of the company’s stock, valued at $53,870,779.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Roger E. Theodoredis sold 898 shares of Chipotle Mexican Grill stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $2,622.25, for a total transaction of $2,354,780.50. Following the transaction, the insider now directly owns 1,529 shares in the company, valued at $4,009,420.25. The disclosure for this sale can be found here. Insiders sold 6,793 shares of company stock worth $18,321,152 in the last 90 days. 0.96% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Steph & Co. purchased a new stake in shares of Chipotle Mexican Grill during the first quarter valued at approximately $29,000. Fortitude Family Office LLC purchased a new stake in shares of Chipotle Mexican Grill during the fourth quarter valued at approximately $32,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Chipotle Mexican Grill during the fourth quarter valued at approximately $37,000. ICA Group Wealth Management LLC purchased a new stake in shares of Chipotle Mexican Grill during the fourth quarter valued at approximately $37,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Chipotle Mexican Grill during the third quarter valued at approximately $38,000. 91.31% of the stock is owned by institutional investors and hedge funds.

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.