Evercore ISI Boosts Chipotle Mexican Grill (NYSE:CMG) Price Target to $3,200.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective lifted by research analysts at Evercore ISI from $2,900.00 to $3,200.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the restaurant operator’s stock. Evercore ISI’s price target would indicate a potential upside of 9.17% from the company’s previous close.

A number of other brokerages have also recently issued reports on CMG. Sanford C. Bernstein upped 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. BTIG Research upped their price objective on Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the company a “buy” rating in a research report on Thursday, March 28th. BMO Capital Markets boosted their target price on Chipotle Mexican Grill from $2,100.00 to $2,400.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 7th. Truist Financial lifted their price target on shares of Chipotle Mexican Grill from $2,700.00 to $2,920.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Finally, UBS Group increased their price objective on shares of Chipotle Mexican Grill from $2,900.00 to $3,400.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Eleven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, Chipotle Mexican Grill presently has an average rating of “Moderate Buy” and an average target price of $2,759.14.

Chipotle Mexican Grill Stock Performance

Shares of CMG traded up $28.17 on Thursday, reaching $2,931.13. The stock had a trading volume of 33,768 shares, compared to its average volume of 228,900. The company has a 50-day simple moving average of $2,772.86 and a 200-day simple moving average of $2,375.00. The firm has a market capitalization of $80.37 billion, a price-to-earnings ratio of 66.10, a price-to-earnings-growth ratio of 2.51 and a beta of 1.28. Chipotle Mexican Grill has a 12-month low of $1,768.64 and a 12-month high of $3,023.98.

Chipotle Mexican Grill shares are scheduled 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 distributed to shareholders after the closing bell on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last announced its earnings results on Tuesday, February 6th. The restaurant operator reported $10.36 earnings per share for the quarter, beating analysts’ consensus estimates of $9.73 by $0.63. Chipotle Mexican Grill had a net margin of 12.45% and a return on equity of 44.41%. The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter last year, the firm earned $8.29 earnings per share. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, analysts expect that Chipotle Mexican Grill will post 53.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Albert S. Baldocchi sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $2,608.51, for a total transaction of $1,956,382.50. Following the transaction, the director now owns 37,271 shares of the company’s stock, valued at approximately $97,221,776.21. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Albert S. Baldocchi sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $2,608.51, for a total transaction of $1,956,382.50. Following the transaction, the director now owns 37,271 shares of the company’s stock, valued at $97,221,776.21. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brian R. Niccol sold 1,996 shares of the business’s stock in a transaction on Monday, January 29th. The shares were 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 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 over the last ninety days. 0.96% of the stock is owned by insiders.

Institutional Trading of Chipotle Mexican Grill

Hedge funds have recently added to or reduced their stakes in the business. Evermay Wealth Management LLC increased its holdings in Chipotle Mexican Grill by 1.8% during the fourth quarter. Evermay Wealth Management LLC now owns 231 shares of the restaurant operator’s stock valued at $528,000 after buying an additional 4 shares during the period. Peloton Wealth Strategists boosted its position in shares of Chipotle Mexican Grill by 0.3% in the 4th quarter. Peloton Wealth Strategists now owns 1,451 shares of the restaurant operator’s stock worth $3,318,000 after purchasing an additional 4 shares in the last quarter. Diversified Trust Co grew its stake in Chipotle Mexican Grill by 0.9% during the 1st quarter. Diversified Trust Co now owns 474 shares of the restaurant operator’s stock worth $1,378,000 after buying an additional 4 shares during the last quarter. Coldstream Capital Management Inc. raised its position in shares of Chipotle Mexican Grill by 1.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 382 shares of the restaurant operator’s stock valued at $700,000 after purchasing an additional 5 shares during the last quarter. Finally, Clearstead Advisors LLC grew its position in Chipotle Mexican Grill by 0.7% during the 3rd quarter. Clearstead Advisors LLC now owns 773 shares of the restaurant operator’s stock worth $1,416,000 after purchasing an additional 5 shares during the last quarter. 91.31% of the stock is owned by hedge funds and other institutional investors.

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.