TD Cowen Increases Chipotle Mexican Grill (NYSE:CMG) Price Target to $3,500.00

Chipotle Mexican Grill (NYSE:CMG) had its price target upped by TD Cowen from $3,400.00 to $3,500.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. TD Cowen’s price target indicates a potential upside of 9.74% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft lifted their price target on Chipotle Mexican Grill from $3,100.00 to $3,300.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Morgan Stanley lifted their price target on Chipotle Mexican Grill from $2,500.00 to $2,986.00 and gave the company an “equal weight” rating in a report on Friday, April 12th. KeyCorp lifted their price target on 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. Barclays lifted their price target 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. Finally, Wells Fargo & Company lifted their price target on 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. Ten analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Chipotle Mexican Grill presently has a consensus rating of “Moderate Buy” and an average price target of $3,137.12.

Chipotle Mexican Grill Trading Up 2.5 %

Chipotle Mexican Grill stock opened at $3,189.40 on Thursday. The stock has a market cap of $87.60 billion, a PE ratio of 68.06, a P/E/G ratio of 2.48 and a beta of 1.28. The stock has a 50-day moving average price of $2,822.95 and a 200 day moving average price of $2,426.07. Chipotle Mexican Grill has a 52 week low of $1,768.64 and a 52 week high of $3,199.99.

Chipotle Mexican Grill’s stock is set to split on the morning of 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 posted its quarterly earnings data on Wednesday, April 24th. The restaurant operator reported $13.37 EPS for the quarter, topping analysts’ consensus estimates of $11.63 by $1.74. The firm had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Chipotle Mexican Grill had a return on equity of 45.46% and a net margin of 12.70%. On average, equities analysts predict that Chipotle Mexican Grill will post 53.49 EPS for the current year.

Insider Buying and Selling

In related news, insider Christopher W. Brandt sold 3,149 shares of the business’s 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 transaction, 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 is accessible through this hyperlink. In other news, CEO Brian R. Niccol sold 1,996 shares of the stock in a transaction that occurred 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 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 document filed with the SEC, which is accessible through this link. Also, insider Christopher W. Brandt sold 3,149 shares of the 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 $25,071,093.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,793 shares of company stock valued at $18,321,152. Corporate insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

Institutional investors and hedge funds have recently made changes to their positions in the business. Steph & Co. purchased a new position in shares of Chipotle Mexican Grill during the 1st quarter valued at approximately $29,000. Fortitude Family Office LLC purchased a new position in shares of Chipotle Mexican Grill during the 4th quarter valued at approximately $32,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Chipotle Mexican Grill during the 4th quarter valued at approximately $37,000. ICA Group Wealth Management LLC bought a new position in Chipotle Mexican Grill during the fourth quarter worth $37,000. Finally, Keener Financial Planning LLC bought a new position in Chipotle Mexican Grill during the fourth quarter worth $43,000. 91.31% of the stock is currently owned by hedge funds and other institutional investors.

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.