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

Chipotle Mexican Grill (NYSE:CMG) had its price objective lifted by stock analysts at BTIG Research from $3,250.00 to $3,350.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the restaurant operator’s stock. BTIG Research’s price target would indicate a potential upside of 7.83% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Raymond James reiterated an “outperform” rating and set a $3,340.00 price target (up from $3,300.00) on shares of Chipotle Mexican Grill in a research report on Thursday. Jefferies Financial Group lifted their target price on shares of Chipotle Mexican Grill from $2,350.00 to $2,700.00 and gave the company a “hold” rating in a report on Tuesday, April 16th. Citigroup boosted their price objective 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. Barclays boosted their price objective 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. Finally, BMO Capital Markets upped their target price on shares of Chipotle Mexican Grill from $2,400.00 to $2,850.00 and gave the company a “market perform” rating in a research note on Thursday. Eleven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $3,022.11.

Chipotle Mexican Grill Trading Up 6.2 %

Shares of NYSE:CMG traded up $180.02 on Thursday, reaching $3,106.78. The company had a trading volume of 402,700 shares, compared to its average volume of 237,534. Chipotle Mexican Grill has a 52-week low of $1,768.64 and a 52-week high of $3,107.63. The firm’s 50 day simple moving average is $2,801.11 and its 200-day simple moving average is $2,411.76. The firm has a market capitalization of $85.19 billion, a PE ratio of 69.85, a PEG ratio of 2.47 and a beta of 1.28.

Chipotle Mexican Grill’s stock is going to split on the morning of Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly minted shares will be payable to shareholders after the market closes 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 analysts’ consensus estimates of $11.63 by $1.74. Chipotle Mexican Grill had a return on equity of 44.41% and a net margin of 12.45%. The business had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.67 billion. As a group, equities research analysts predict that Chipotle Mexican Grill will post 53.49 earnings per share for the current year.

Insider Buying and Selling

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 898 shares of the stock in a transaction 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 sale, the insider now directly owns 1,529 shares in the company, valued at $4,009,420.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 898 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 1,529 shares in the company, valued at $4,009,420.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher W. Brandt sold 3,149 shares of the company’s 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 completion of the transaction, the insider now directly owns 8,563 shares in the company, valued at approximately $25,071,093.92. The disclosure for this sale can be found here. Insiders sold a total of 6,793 shares of company stock valued at $18,321,152 over the last ninety days. Insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

Several institutional investors and hedge funds have recently made changes to their positions in CMG. IFP Advisors Inc grew its position in Chipotle Mexican Grill by 13.6% during the third quarter. IFP Advisors Inc now owns 134 shares of the restaurant operator’s stock worth $245,000 after buying an additional 16 shares in the last quarter. Flagship Harbor Advisors LLC bought a new position in shares of Chipotle Mexican Grill in the 3rd quarter valued at $203,000. DAVENPORT & Co LLC lifted its stake in shares of Chipotle Mexican Grill by 9.4% in the 3rd quarter. DAVENPORT & Co LLC now owns 291 shares of the restaurant operator’s stock valued at $533,000 after acquiring an additional 25 shares during the last quarter. Meridian Wealth Management LLC raised its position in Chipotle Mexican Grill by 291.2% during the 3rd quarter. Meridian Wealth Management LLC now owns 442 shares of the restaurant operator’s stock worth $810,000 after purchasing an additional 329 shares during the last quarter. Finally, Caprock Group LLC raised its position in Chipotle Mexican Grill by 4.0% during the 3rd quarter. Caprock Group LLC now owns 208 shares of the restaurant operator’s stock worth $381,000 after purchasing an additional 8 shares during the last quarter. Institutional investors and hedge funds 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.