Chipotle Mexican Grill (NYSE:CMG) PT Raised to $3,200.00

Chipotle Mexican Grill (NYSE:CMG) had its target price hoisted by Sanford C. Bernstein from $2,800.00 to $3,200.00 in a research note released on Tuesday, Benzinga reports. The brokerage currently has an outperform rating on the restaurant operator’s stock.

Several other analysts have also commented on the stock. Oppenheimer increased their price target on shares of Chipotle Mexican Grill from $2,225.00 to $2,525.00 and gave the company an outperform rating in a research report on Friday, January 5th. Citigroup raised their target price on shares of Chipotle Mexican Grill from $2,699.00 to $3,016.00 and gave the stock a buy rating in a research report on Wednesday, February 7th. Wedbush raised their target price on shares of Chipotle Mexican Grill from $2,400.00 to $2,850.00 and gave the stock a neutral rating in a research report on Friday, March 22nd. Royal Bank of Canada increased their price target on shares of Chipotle Mexican Grill from $2,185.00 to $2,425.00 and gave the stock an outperform rating in a research note on Friday, December 1st. Finally, Morgan Stanley increased their price target on shares of Chipotle Mexican Grill from $2,284.00 to $2,500.00 and gave the stock an equal weight rating in a research note on Wednesday, February 7th. Nine analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $2,566.37.

Chipotle Mexican Grill Stock Down 0.7 %

NYSE CMG opened at $2,902.19 on Tuesday. The stock has a market capitalization of $79.58 billion, a P/E ratio of 65.44, a P/E/G ratio of 2.53 and a beta of 1.29. Chipotle Mexican Grill has a 52-week low of $1,645.03 and a 52-week high of $3,023.98. The firm has a 50-day moving average price of $2,617.78 and a 200 day moving average price of $2,267.07.

Shares of Chipotle Mexican Grill 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 issued its earnings results on Tuesday, February 6th. The restaurant operator reported $10.36 earnings per share for the quarter, topping the consensus estimate of $9.73 by $0.63. The company had revenue of $2.52 billion for 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 for the quarter was up 15.4% compared to the same quarter last year. During the same period in the prior year, the business posted $8.29 earnings per share. On average, equities research analysts expect that Chipotle Mexican Grill will post 53.12 earnings per share for the current fiscal year.

Insider Activity at Chipotle Mexican Grill

In related news, 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 transaction of $2,354,780.50. Following the completion of the sale, the insider now directly owns 1,529 shares of the company’s stock, valued at approximately $4,009,420.25. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Chipotle Mexican Grill news, 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 transaction of $2,354,780.50. Following the completion of the transaction, the insider now directly owns 1,529 shares of the company’s stock, valued at approximately $4,009,420.25. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christopher W. Brandt sold 3,149 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $2,927.84, for a total transaction of $9,219,768.16. Following the transaction, the insider now directly owns 8,563 shares of the company’s stock, valued at $25,071,093.92. The disclosure for this sale can be found here. In the last three months, insiders sold 7,893 shares of company stock valued at $20,827,447. Corporate insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Fortitude Family Office LLC acquired a new position in Chipotle Mexican Grill during the 4th quarter worth $32,000. Coppell Advisory Solutions LLC acquired a new position in shares of Chipotle Mexican Grill in the 2nd quarter valued at about $32,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Chipotle Mexican Grill in the 4th quarter valued at about $37,000. ICA Group Wealth Management LLC acquired a new position in shares of Chipotle Mexican Grill in the 4th quarter valued at about $37,000. Finally, Cornerstone Planning Group LLC acquired a new position in shares of Chipotle Mexican Grill in the 2nd quarter valued at about $39,000. 91.31% of the stock is owned by institutional investors and hedge funds.

About Chipotle Mexican Grill

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.