Chipotle Mexican Grill (NYSE:CMG) Price Target Increased to $3,500.00 by Analysts at TD Cowen

Chipotle Mexican Grill (NYSE:CMG) had its price target lifted by TD Cowen from $3,400.00 to $3,500.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a buy rating on the restaurant operator’s stock.

Several other equities research analysts have also issued reports on the company. Argus upped their price target on Chipotle Mexican Grill from $3,265.00 to $3,366.00 and gave the company a buy rating in a research report on Thursday, April 4th. Wells Fargo & Company upped their price target on Chipotle Mexican Grill from $2,600.00 to $2,800.00 and gave the company an overweight rating in a research report on Wednesday, February 7th. Evercore ISI upped their price target on Chipotle Mexican Grill from $2,900.00 to $3,200.00 and gave the company an outperform rating in a research report on Thursday, April 18th. BTIG Research upped their price target 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. Finally, Stephens upped their price objective 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. Eleven analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Chipotle Mexican Grill has a consensus rating of Moderate Buy and an average target price of $3,057.68.

Chipotle Mexican Grill Stock Up 6.5 %

Shares of CMG opened at $3,116.02 on Thursday. The business’s 50 day moving average is $2,811.11 and its two-hundred day moving average is $2,416.65. Chipotle Mexican Grill has a 52-week low of $1,768.64 and a 52-week high of $3,145.69. The firm has a market cap of $85.60 billion, a price-to-earnings ratio of 66.50, a PEG ratio of 2.48 and a beta of 1.28.

Shares of Chipotle Mexican Grill 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 announced its earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.63 by $1.74. Chipotle Mexican Grill had a return on equity of 45.46% and a net margin of 12.70%. The company had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.67 billion. On average, equities analysts expect that Chipotle Mexican Grill will post 53.49 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Brian R. Niccol sold 1,996 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $2,399.91, for a total transaction of $4,790,220.36. Following the completion of the sale, the chief executive officer now directly owns 22,447 shares of the company’s stock, valued at $53,870,779.77. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Brian R. Niccol sold 1,996 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $2,399.91, for a total transaction of $4,790,220.36. Following the completion of the sale, the chief executive officer now directly owns 22,447 shares of the company’s stock, valued at $53,870,779.77. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 value of $2,354,780.50. Following the sale, the insider now directly owns 1,529 shares of the company’s stock, valued at $4,009,420.25. The disclosure for this sale can be found here. Insiders sold a total of 6,793 shares of company stock valued at $18,321,152 over the last three months. Insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several hedge funds have recently modified their holdings of CMG. Vanguard Group Inc. lifted its stake in Chipotle Mexican Grill by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 2,707,233 shares of the restaurant operator’s stock worth $6,191,334,000 after acquiring an additional 23,151 shares in the last quarter. Capital World Investors lifted its stake in Chipotle Mexican Grill by 0.8% in the 4th quarter. Capital World Investors now owns 1,125,974 shares of the restaurant operator’s stock worth $2,575,057,000 after acquiring an additional 8,541 shares in the last quarter. Artisan Partners Limited Partnership lifted its stake in Chipotle Mexican Grill by 1.5% in the 3rd quarter. Artisan Partners Limited Partnership now owns 509,953 shares of the restaurant operator’s stock worth $934,147,000 after acquiring an additional 7,677 shares in the last quarter. FMR LLC lifted its stake in Chipotle Mexican Grill by 5.9% in the 3rd quarter. FMR LLC now owns 449,942 shares of the restaurant operator’s stock worth $824,217,000 after acquiring an additional 24,991 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Chipotle Mexican Grill by 3.5% in the 3rd quarter. American Century Companies Inc. now owns 399,902 shares of the restaurant operator’s stock worth $732,552,000 after acquiring an additional 13,482 shares in the last quarter. 91.31% of the stock is owned by hedge funds and other 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.