JPMorgan Chase & Co. Increases Chipotle Mexican Grill (NYSE:CMG) Price Target to $2,750.00

Chipotle Mexican Grill (NYSE:CMG) had its price target increased by JPMorgan Chase & Co. from $2,500.00 to $2,750.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the restaurant operator’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 13.78% from the stock’s previous close.

CMG has been the subject of several other reports. Wedbush upped 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 note on Thursday. Morgan Stanley upped their price target 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. UBS Group upped their price target on Chipotle Mexican Grill from $3,400.00 to $3,500.00 and gave the stock a “buy” rating in a research note on Thursday. Stephens upped their price target on Chipotle Mexican Grill from $3,010.00 to $3,050.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Robert W. Baird upped their price target 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. Ten equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $3,137.12.

Chipotle Mexican Grill Trading Up 2.5 %

Chipotle Mexican Grill stock opened at $3,189.40 on Thursday. The firm has a 50 day moving average of $2,822.95 and a 200 day moving average of $2,426.07. The firm has a market capitalization of $87.61 billion, a price-to-earnings ratio of 68.06, a P/E/G ratio of 2.60 and a beta of 1.28. Chipotle Mexican Grill has a 12-month low of $1,768.64 and a 12-month high of $3,199.99.

Shares of Chipotle Mexican Grill are going to split before the market opens 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 released its earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.63 by $1.74. The company had revenue of $2.70 billion during 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%. On average, analysts predict that Chipotle Mexican Grill will post 54.07 EPS for the current year.

Insider Activity at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 898 shares of the 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 sale, the insider now owns 1,529 shares in the company, valued at $4,009,420.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Chipotle Mexican Grill news, CEO Brian R. Niccol sold 1,996 shares of the stock in a transaction 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 sale, the chief executive officer now owns 22,447 shares in the company, valued at $53,870,779.77. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Roger E. Theodoredis sold 898 shares of the firm’s 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 transaction, the insider now owns 1,529 shares in the company, valued at approximately $4,009,420.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,793 shares of company stock worth $18,321,152. Company insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

Several institutional investors have recently made changes to their positions in CMG. Norges Bank purchased a new position in shares of Chipotle Mexican Grill during the fourth quarter valued at $805,529,000. International Assets Investment Management LLC increased its stake 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 valued at $6,903,850,000 after buying an additional 301,742 shares during the period. Wellington Management Group LLP increased its stake 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 valued at $727,570,000 after buying an additional 116,723 shares during the period. Global Assets Advisory LLC purchased a new position in shares of Chipotle Mexican Grill during the first quarter valued at $167,256,000. Finally, 1832 Asset Management L.P. purchased a new position in shares of Chipotle Mexican Grill during the fourth quarter valued at $100,535,000. 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.