Chipotle Mexican Grill (NYSE:CMG) Rating Reiterated by Raymond James

Chipotle Mexican Grill (NYSE:CMG)‘s stock had its “outperform” rating reaffirmed by stock analysts at Raymond James in a report released on Thursday, Benzinga reports. They presently have a $3,340.00 price target on the restaurant operator’s stock, up from their prior price target of $3,300.00. Raymond James’ target price suggests a potential upside of 4.72% from the company’s previous close.

A number of other equities analysts have also recently commented on CMG. BMO Capital Markets lifted their target price on Chipotle Mexican Grill from $2,100.00 to $2,400.00 and gave the stock a “market perform” rating in a report on Wednesday, February 7th. Argus lifted their price objective on shares of Chipotle Mexican Grill from $3,265.00 to $3,366.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Truist Financial increased their target price on shares of Chipotle Mexican Grill from $2,700.00 to $2,920.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. BTIG Research lifted their price target on shares of Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Finally, Wells Fargo & Company increased their price objective on shares of Chipotle Mexican Grill from $3,285.00 to $3,300.00 and gave the stock an “overweight” rating in a research report on Thursday. Ten research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $3,137.12.

Chipotle Mexican Grill Stock Performance

CMG stock opened at $3,189.40 on Thursday. The firm has a market cap of $87.61 billion, a PE ratio of 68.06, a price-to-earnings-growth ratio of 2.60 and a beta of 1.28. The firm has a fifty day moving average price of $2,822.95 and a 200 day moving average price of $2,426.07. Chipotle Mexican Grill has a fifty-two week low of $1,768.64 and a fifty-two week high of $3,199.99.

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

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 EPS for the quarter, beating analysts’ consensus estimates of $11.63 by $1.74. The firm had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.67 billion. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 43.74%. On average, equities analysts predict that Chipotle Mexican Grill will post 54.07 EPS for the current year.

Insider Buying and Selling

In other Chipotle Mexican Grill news, CEO Brian R. Niccol sold 1,996 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 22,447 shares of the company’s stock, valued at approximately $53,870,779.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other 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 transaction, the insider now owns 8,563 shares of the company’s stock, valued at approximately $25,071,093.92. The sale 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 the 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 transaction 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 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 over the last 90 days. Corporate insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

Large investors have recently made changes to their positions in the business. Steph & Co. acquired a new stake in shares of Chipotle Mexican Grill in the 1st quarter worth $29,000. Fortitude Family Office LLC purchased a new stake in Chipotle Mexican Grill in the fourth quarter valued at about $32,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Chipotle Mexican Grill in the fourth quarter worth about $37,000. ICA Group Wealth Management LLC purchased a new stake in shares of Chipotle Mexican Grill during the fourth quarter worth about $37,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Chipotle Mexican Grill during the third quarter worth about $38,000. 91.31% of the stock is owned by institutional investors and hedge funds.

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.