Chipotle Mexican Grill (NYSE:CMG) Price Target Increased to $3,600.00 by Analysts at TD Cowen

Chipotle Mexican Grill (NYSE:CMG) had its price objective lifted by TD Cowen from $3,500.00 to $3,600.00 in a report released on Thursday morning, Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

CMG has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Chipotle Mexican Grill from $3,400.00 to $3,600.00 and gave the company a buy rating in a research note on Thursday, April 25th. Jefferies Financial Group boosted their price objective on shares of Chipotle Mexican Grill from $2,350.00 to $2,700.00 and gave the company a hold rating in a research note on Tuesday, April 16th. Sanford C. Bernstein boosted their price target on shares of Chipotle Mexican Grill from $2,800.00 to $3,200.00 and gave the stock an outperform rating in a research note on Tuesday, March 26th. Barclays boosted their price target on shares of Chipotle Mexican Grill from $2,400.00 to $2,865.00 and gave the stock an equal weight rating in a research note on Thursday, April 25th. Finally, Wells Fargo & Company boosted their price target on shares of Chipotle Mexican Grill from $3,285.00 to $3,300.00 and gave the stock an overweight rating in a research note on Thursday, April 25th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, Chipotle Mexican Grill has an average rating of Moderate Buy and an average price target of $3,181.85.

Chipotle Mexican Grill Stock Up 0.2 %

NYSE CMG opened at $3,271.71 on Thursday. The company’s 50 day moving average is $3,102.52 and its 200-day moving average is $2,716.30. Chipotle Mexican Grill has a 12-month low of $1,768.64 and a 12-month high of $3,293.53. The firm has a market cap of $89.87 billion, a P/E ratio of 69.82, a price-to-earnings-growth ratio of 2.60 and a beta of 1.25.

Chipotle Mexican Grill shares are set 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 distributed to shareholders after the market closes on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Wednesday, April 24th. The restaurant operator reported $13.37 EPS for the quarter, beating the consensus estimate of $11.63 by $1.74. The company had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 43.74%. Equities analysts expect that Chipotle Mexican Grill will post 55.31 EPS for the current year.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, CEO Brian R. Niccol sold 6,406 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $3,185.92, for a total value of $20,409,003.52. Following the completion of the transaction, the chief executive officer now directly owns 22,669 shares in the company, valued at approximately $72,221,620.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Chipotle Mexican Grill news, insider Christopher W. Brandt sold 3,149 shares of the company’s stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian R. Niccol sold 6,406 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $3,185.92, for a total transaction of $20,409,003.52. Following the completion of the transaction, the chief executive officer now owns 22,669 shares of the company’s stock, valued at $72,221,620.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,164 shares of company stock worth $44,243,538. 1.02% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CMG. Steph & Co. purchased a new stake in Chipotle Mexican Grill during the 1st quarter valued at about $29,000. Semmax Financial Advisors Inc. boosted its holdings in shares of Chipotle Mexican Grill by 225.0% during the 1st quarter. Semmax Financial Advisors Inc. now owns 13 shares of the restaurant operator’s stock valued at $42,000 after acquiring an additional 9 shares during the last quarter. Fortitude Family Office LLC purchased a new stake in shares of Chipotle Mexican Grill during the 4th quarter valued at about $32,000. Crewe Advisors LLC purchased a new stake in shares of Chipotle Mexican Grill during the 1st quarter valued at about $44,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Chipotle Mexican Grill during the 4th quarter valued at about $37,000. 91.31% of the stock is currently owned by 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.