Chipotle Mexican Grill (NYSE:CMG) PT Raised to $3,400.00 at KeyCorp

Chipotle Mexican Grill (NYSE:CMG) had its price target upped by equities research analysts at KeyCorp from $3,250.00 to $3,400.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the restaurant operator’s stock. KeyCorp’s target price indicates a potential upside of 6.60% from the company’s previous close.

Several other equities research analysts also recently commented on the company. Morgan Stanley increased their price objective on Chipotle Mexican Grill from $2,986.00 to $3,100.00 and gave the company an “equal weight” rating in a report on Thursday. Stephens increased their price objective on Chipotle Mexican Grill from $3,010.00 to $3,050.00 and gave the company an “equal weight” rating in a report on Thursday. Robert W. Baird increased their price objective on Chipotle Mexican Grill from $3,250.00 to $3,500.00 and gave the company an “outperform” rating in a report on Thursday. BTIG Research increased their price objective on Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Finally, Argus increased their price objective on Chipotle Mexican Grill from $3,265.00 to $3,366.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Ten research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, Chipotle Mexican Grill has an average rating of “Moderate Buy” and an average target price of $3,137.12.

Chipotle Mexican Grill Stock Performance

NYSE:CMG opened at $3,189.40 on Thursday. The company has a market cap of $87.61 billion, a PE ratio of 68.06, a PEG ratio of 2.60 and a beta of 1.28. Chipotle Mexican Grill has a 52-week low of $1,768.64 and a 52-week high of $3,199.99. The stock has a 50-day simple moving average of $2,822.95 and a 200 day simple moving average of $2,426.07.

Chipotle Mexican Grill’s stock is going 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 issued to shareholders after the closing bell on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.63 by $1.74. The business had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.67 billion. Chipotle Mexican Grill had a return on equity of 43.74% and a net margin of 12.70%. On average, research analysts predict that Chipotle Mexican Grill will post 54.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $4,790,220.36. Following the transaction, the chief executive officer now owns 22,447 shares in the company, valued at approximately $53,870,779.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 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. Insiders have sold 6,793 shares of company stock worth $18,321,152 in the last 90 days. Company insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CMG. Norges Bank bought a new position in shares of Chipotle Mexican Grill in the fourth quarter worth $805,529,000. International Assets Investment Management LLC increased its position in shares of Chipotle Mexican Grill by 220,249.6% in the fourth quarter. International Assets Investment Management LLC now owns 301,879 shares of the restaurant operator’s stock worth $6,903,850,000 after purchasing an additional 301,742 shares during the period. Wellington Management Group LLP increased its position in shares of Chipotle Mexican Grill by 41.6% in the third quarter. Wellington Management Group LLP now owns 397,182 shares of the restaurant operator’s stock worth $727,570,000 after purchasing an additional 116,723 shares during the period. Global Assets Advisory LLC bought a new position in shares of Chipotle Mexican Grill in the first quarter worth $167,256,000. Finally, 1832 Asset Management L.P. bought a new position in shares of Chipotle Mexican Grill in the fourth quarter worth $100,535,000. 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.