BMO Capital Markets Increases Chipotle Mexican Grill (NYSE:CMG) Price Target to $2,850.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective lifted by equities researchers at BMO Capital Markets from $2,400.00 to $2,850.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “market perform” rating on the restaurant operator’s stock. BMO Capital Markets’ price target would suggest a potential downside of 10.64% from the stock’s previous close.

A number of other analysts have also recently weighed in on CMG. Wedbush boosted their price target on Chipotle Mexican Grill from $2,850.00 to $3,200.00 and gave the stock a “neutral” rating in a research report on Thursday. Morgan Stanley lifted their price objective on Chipotle Mexican Grill from $2,986.00 to $3,100.00 and gave the stock an “equal weight” rating in a research note on Thursday. Stifel Nicolaus lifted their price objective on Chipotle Mexican Grill from $2,700.00 to $3,270.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Robert W. Baird lifted their price objective on Chipotle Mexican Grill from $3,250.00 to $3,500.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Evercore ISI lifted their price objective on Chipotle Mexican Grill from $3,200.00 to $3,600.00 and gave the stock an “outperform” rating in a research note on Thursday. Ten investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Chipotle Mexican Grill has a consensus rating of “Moderate Buy” and a consensus target price of $3,137.12.

Chipotle Mexican Grill Trading Up 2.5 %

CMG opened at $3,189.40 on Thursday. The stock has a market cap of $87.61 billion, a price-to-earnings ratio of 68.06, a PEG ratio of 2.60 and a beta of 1.28. Chipotle Mexican Grill has a 1 year low of $1,768.64 and a 1 year high of $3,199.99. The stock has a fifty day moving average price of $2,822.95 and a 200 day moving average price of $2,426.07.

Chipotle Mexican Grill shares are set to split on the morning of Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly created shares will be payable to shareholders after the closing bell 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 earnings per share for the quarter, topping analysts’ consensus estimates of $11.63 by $1.74. Chipotle Mexican Grill had a return on equity of 43.74% and a net margin of 12.70%. The company had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.67 billion. As a group, sell-side analysts forecast that Chipotle Mexican Grill will post 54.07 earnings per share for the current fiscal year.

Insider Transactions at Chipotle Mexican Grill

In other news, CEO Brian R. Niccol sold 1,996 shares of the business’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 value of $4,790,220.36. Following the transaction, the chief executive officer now directly owns 22,447 shares of the company’s stock, valued at approximately $53,870,779.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 898 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were 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 owns 1,529 shares in the company, valued at approximately $4,009,420.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian R. Niccol sold 1,996 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $2,399.91, for a total transaction of $4,790,220.36. Following the sale, the chief executive officer now owns 22,447 shares of the company’s stock, valued at approximately $53,870,779.77. The disclosure for this sale can be found here. Insiders have sold 6,793 shares of company stock valued at $18,321,152 in the last three months. 0.96% of the stock is owned by corporate insiders.

Institutional Trading of Chipotle Mexican Grill

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