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

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

Several other brokerages have also recently weighed in on CMG. Evercore ISI raised their price target on shares of Chipotle Mexican Grill from $3,200.00 to $3,600.00 and gave the company an outperform rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft lifted their target price on Chipotle Mexican Grill from $3,100.00 to $3,300.00 and gave the company a buy rating in a research report on Wednesday, March 20th. TD Cowen boosted their price target on shares of Chipotle Mexican Grill from $3,400.00 to $3,500.00 and gave the stock a buy rating in a report on Thursday. KeyCorp increased their price objective on shares of Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the company an overweight rating in a research note on Tuesday, April 9th. Finally, Oppenheimer reaffirmed an outperform rating and set a $3,300.00 price target (up from $2,825.00) on shares of Chipotle Mexican Grill 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 company. Based on data from MarketBeat, Chipotle Mexican Grill has a consensus rating of Moderate Buy and a consensus price target of $3,137.12.

Chipotle Mexican Grill Stock Performance

Shares of NYSE:CMG opened at $3,186.97 on Thursday. The firm has a market cap of $87.55 billion, a P/E ratio of 68.01, a PEG 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 business’s 50 day simple moving average is $2,822.95 and its two-hundred day simple moving average is $2,434.49.

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

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share (EPS) for the quarter, beating 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 43.74%. The business had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.67 billion. On average, equities analysts forecast that Chipotle Mexican Grill will post 55.08 earnings per share for the current fiscal year.

Insider Transactions at Chipotle Mexican Grill

In related news, insider Roger E. Theodoredis sold 898 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $2,622.25, for a total transaction of $2,354,780.50. Following the completion of the sale, the insider now directly owns 1,529 shares in the company, valued at approximately $4,009,420.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Albert S. Baldocchi sold 750 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $2,608.51, for a total value of $1,956,382.50. Following the sale, the director now directly owns 37,271 shares of the company’s stock, valued at $97,221,776.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Roger E. Theodoredis sold 898 shares of the company’s 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 value of $2,354,780.50. Following the transaction, the insider now directly 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. Over the last quarter, insiders have sold 4,797 shares of company stock worth $13,530,931. Company insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Chipotle Mexican Grill

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Chipotle Mexican Grill by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 2,707,233 shares of the restaurant operator’s stock worth $6,191,334,000 after acquiring an additional 23,151 shares during the period. Capital World Investors lifted its position in shares of Chipotle Mexican Grill by 0.8% in the 4th quarter. Capital World Investors now owns 1,125,974 shares of the restaurant operator’s stock worth $2,575,057,000 after purchasing an additional 8,541 shares during the period. Artisan Partners Limited Partnership boosted its stake in shares of Chipotle Mexican Grill by 1.5% during the 3rd quarter. Artisan Partners Limited Partnership now owns 509,953 shares of the restaurant operator’s stock valued at $934,147,000 after purchasing an additional 7,677 shares in the last quarter. FMR LLC raised its stake in Chipotle Mexican Grill by 5.9% in the third quarter. FMR LLC now owns 449,942 shares of the restaurant operator’s stock worth $824,217,000 after buying an additional 24,991 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in Chipotle Mexican Grill by 3.5% in the third quarter. American Century Companies Inc. now owns 399,902 shares of the restaurant operator’s stock worth $732,552,000 after buying an additional 13,482 shares during the period. 91.31% of the stock is currently owned by institutional investors.

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.