Chipotle Mexican Grill’s (CMG) Buy Rating Reiterated at TD Cowen

Chipotle Mexican Grill (NYSE:CMG)‘s stock had its “buy” rating reissued by equities researchers at TD Cowen in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $2,900.00 target price on the restaurant operator’s stock. TD Cowen’s price target would suggest a potential downside of 3.03% from the stock’s current price.

Several other research firms have also recently commented on CMG. Wells Fargo & Company lifted their price target on Chipotle Mexican Grill from $2,600.00 to $2,800.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Robert W. Baird reaffirmed an “outperform” rating and set a $2,650.00 price target on shares of Chipotle Mexican Grill in a research report on Monday, January 22nd. Stephens increased their price target on shares of Chipotle Mexican Grill from $2,800.00 to $3,000.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. BMO Capital Markets boosted their price objective on shares of Chipotle Mexican Grill from $2,100.00 to $2,400.00 and gave the company a “market perform” rating in a research note on Wednesday, February 7th. Finally, Wedbush lifted their target price on Chipotle Mexican Grill from $2,400.00 to $2,850.00 and gave the company a “neutral” rating in a report on Friday, March 22nd. Nine investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2,702.22.

Chipotle Mexican Grill Stock Up 0.8 %

Shares of NYSE:CMG opened at $2,990.69 on Wednesday. The company has a market capitalization of $82.00 billion, a P/E ratio of 67.43, a P/E/G ratio of 2.51 and a beta of 1.28. Chipotle Mexican Grill has a 52-week low of $1,693.90 and a 52-week high of $3,023.98. The stock’s fifty day simple moving average is $2,740.18 and its 200-day simple moving average is $2,340.77.

Chipotle Mexican Grill shares are going to split on Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly created shares will be distributed to shareholders after the market closes on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings data on Tuesday, February 6th. The restaurant operator reported $10.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.73 by $0.63. The business had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Chipotle Mexican Grill had a return on equity of 44.41% and a net margin of 12.45%. The business’s revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the firm earned $8.29 earnings per share. On average, sell-side analysts anticipate that Chipotle Mexican Grill will post 53.12 earnings per share for the current year.

Insider Activity at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, CEO Brian R. Niccol sold 1,996 shares of the company’s stock in a transaction on Monday, January 29th. The shares were 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 $53,870,779.77. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Christopher W. Brandt sold 3,149 shares of the stock in a transaction dated 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 sale, the insider now owns 8,563 shares in the company, valued at $25,071,093.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Brian R. Niccol sold 1,996 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were 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 directly owns 22,447 shares in the company, valued at $53,870,779.77. The disclosure for this sale can be found here. Insiders sold 6,793 shares of company stock valued at $18,321,152 in the last three months. Corporate insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fortitude Family Office LLC bought a new stake in Chipotle Mexican Grill during the fourth quarter worth $32,000. Coppell Advisory Solutions LLC purchased a new position in shares of Chipotle Mexican Grill in the 2nd quarter worth about $32,000. IMA Wealth Inc. grew its position in Chipotle Mexican Grill by 185.7% during the first quarter. IMA Wealth Inc. now owns 20 shares of the restaurant operator’s stock valued at $34,000 after buying an additional 13 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new stake in Chipotle Mexican Grill during the fourth quarter worth about $37,000. Finally, ICA Group Wealth Management LLC bought a new stake in Chipotle Mexican Grill in the fourth quarter worth about $37,000. Hedge funds and other 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.