Chipotle Mexican Grill (NYSE:CMG) Price Target Increased to $3,350.00 by Analysts at BTIG Research

Chipotle Mexican Grill (NYSE:CMG) had its price target increased by BTIG Research from $3,250.00 to $3,350.00 in a report published on Thursday, Benzinga reports. The firm currently has a buy rating on the restaurant operator’s stock.

CMG has been the subject of several other reports. Stifel Nicolaus increased their price objective on Chipotle Mexican Grill from $2,700.00 to $3,270.00 and gave the company a buy rating in a report on Thursday, April 11th. Stephens increased their price objective on Chipotle Mexican Grill from $3,010.00 to $3,050.00 and gave the company an equal weight rating in a report on Thursday. Deutsche Bank Aktiengesellschaft increased their price objective on Chipotle Mexican Grill from $3,400.00 to $3,600.00 and gave the company a buy rating in a report on Thursday. Wells Fargo & Company increased their price objective on Chipotle Mexican Grill from $3,285.00 to $3,300.00 and gave the company an overweight rating in a report on Thursday. Finally, UBS Group increased their price objective on Chipotle Mexican Grill from $3,400.00 to $3,500.00 and gave the company a buy rating in a report on Thursday. Ten analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $3,137.12.

Chipotle Mexican Grill Stock Up 2.4 %

Shares of Chipotle Mexican Grill stock opened at $3,186.97 on Thursday. The firm has a market capitalization of $87.55 billion, a P/E ratio of 68.01, a P/E/G ratio of 2.67 and a beta of 1.28. Chipotle Mexican Grill has a 52 week low of $1,768.64 and a 52 week high of $3,199.99. The firm’s 50 day moving average is $2,822.95 and its two-hundred day moving average is $2,434.49.

Chipotle Mexican Grill shares are scheduled 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 market closes 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 the consensus estimate of $11.63 by $1.74. The company had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.67 billion. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 43.74%. As a group, research analysts expect that Chipotle Mexican Grill will post 55.08 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Roger E. Theodoredis sold 898 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $2,622.25, for a total value of $2,354,780.50. Following the completion of the transaction, the insider now owns 1,529 shares in the company, valued at $4,009,420.25. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Christopher W. Brandt sold 3,149 shares of Chipotle Mexican Grill stock in a transaction dated 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 completion of the sale, the insider now owns 8,563 shares in the company, valued at approximately $25,071,093.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Roger E. Theodoredis sold 898 shares of Chipotle Mexican Grill stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $2,622.25, for a total value of $2,354,780.50. Following the sale, the insider now owns 1,529 shares of the company’s stock, valued at approximately $4,009,420.25. The disclosure for this sale can be found here. Insiders sold a total of 4,797 shares of company stock worth $13,530,931 over the last 90 days. 0.96% of the stock is currently owned by corporate insiders.

Institutional Trading of Chipotle Mexican Grill

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CMG. Steph & Co. purchased a new stake in Chipotle Mexican Grill during the 1st quarter worth about $29,000. Fortitude Family Office LLC purchased a new stake in Chipotle Mexican Grill during the 4th quarter worth about $32,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Chipotle Mexican Grill in the 4th quarter valued at about $37,000. ICA Group Wealth Management LLC purchased a new stake in Chipotle Mexican Grill in the 4th quarter valued at about $37,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Chipotle Mexican Grill in the 3rd quarter valued at about $38,000. Hedge funds and other 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.