Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $3,200.00 at Evercore ISI

Chipotle Mexican Grill (NYSE:CMG) had its target price hoisted by Evercore ISI from $2,900.00 to $3,200.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an outperform rating on the restaurant operator’s stock.

Several other equities research analysts have also commented on CMG. Citigroup boosted their price target on shares of Chipotle Mexican Grill from $3,016.00 to $3,358.00 and gave the stock a buy rating in a report on Monday, April 8th. Robert W. Baird reaffirmed an outperform rating and set a $2,650.00 target price on shares of Chipotle Mexican Grill in a report on Monday, January 22nd. Barclays upped their target price on shares of Chipotle Mexican Grill from $2,246.00 to $2,400.00 and gave the stock an equal weight rating in a report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Chipotle Mexican Grill from $3,100.00 to $3,300.00 and gave the stock a buy rating in a report on Wednesday, March 20th. Finally, BMO Capital Markets upped their price objective on shares of Chipotle Mexican Grill from $2,100.00 to $2,400.00 and gave the company a market perform rating in a report on Wednesday, February 7th. Eleven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $2,759.14.

Chipotle Mexican Grill Price Performance

CMG opened at $2,907.97 on Thursday. The firm has a fifty day moving average price of $2,778.61 and a 200 day moving average price of $2,378.70. Chipotle Mexican Grill has a 1 year low of $1,768.64 and a 1 year high of $3,023.98. The stock has a market cap of $79.74 billion, a P/E ratio of 65.57, a P/E/G ratio of 2.46 and a beta of 1.28.

Chipotle Mexican Grill shares are going to split 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 issued its quarterly earnings results on Tuesday, February 6th. The restaurant operator reported $10.36 EPS for the quarter, topping the consensus estimate of $9.73 by $0.63. The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.49 billion. Chipotle Mexican Grill had a net margin of 12.45% and a return on equity of 44.41%. The firm’s revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.29 EPS. Equities analysts expect that Chipotle Mexican Grill will post 53.36 EPS for the current year.

Insider Buying and Selling at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, 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 value of $4,790,220.36. Following the transaction, the chief executive officer now directly owns 22,447 shares in the company, valued at $53,870,779.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Albert S. Baldocchi sold 750 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $2,608.51, for a total transaction of $1,956,382.50. Following the transaction, the director now directly owns 37,271 shares in the company, valued at $97,221,776.21. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian R. Niccol sold 1,996 shares of the firm’s 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 transaction, the chief executive officer now owns 22,447 shares in the company, valued at $53,870,779.77. The disclosure for this sale can be found here. Insiders have sold 6,793 shares of company stock worth $18,321,152 over the last three months. Insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of hedge funds have recently modified their holdings of CMG. Norges Bank purchased a new position in shares of Chipotle Mexican Grill during the fourth quarter worth approximately $805,529,000. International Assets Investment Management LLC lifted its holdings in shares of Chipotle Mexican Grill by 220,249.6% during the fourth quarter. International Assets Investment Management LLC now owns 301,879 shares of the restaurant operator’s stock worth $6,903,850,000 after purchasing an additional 301,742 shares during the period. Moneta Group Investment Advisors LLC acquired a new stake in shares of Chipotle Mexican Grill during the fourth quarter worth $248,604,000. Morgan Stanley lifted its holdings in shares of Chipotle Mexican Grill by 65.8% during the fourth quarter. Morgan Stanley now owns 375,736 shares of the restaurant operator’s stock worth $521,332,000 after purchasing an additional 149,115 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of Chipotle Mexican Grill by 41.6% during the third quarter. Wellington Management Group LLP now owns 397,182 shares of the restaurant operator’s stock worth $727,570,000 after purchasing an additional 116,723 shares during the period. 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.