Stifel Nicolaus Boosts Chipotle Mexican Grill (NYSE:CMG) Price Target to $3,270.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective raised by Stifel Nicolaus from $2,700.00 to $3,270.00 in a research note published on Thursday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the restaurant operator’s stock.

Several other brokerages also recently issued reports on CMG. KeyCorp raised their price target on Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the company an overweight rating in a research report on Tuesday, April 9th. TD Cowen reaffirmed a buy rating and issued a $2,900.00 price target on shares of Chipotle Mexican Grill in a research report on Wednesday, April 10th. Robert W. Baird reaffirmed an outperform rating and issued a $2,650.00 price target on shares of Chipotle Mexican Grill in a research report on Monday, January 22nd. Morgan Stanley raised their price target on Chipotle Mexican Grill from $2,284.00 to $2,500.00 and gave the company an equal weight rating in a research report on Wednesday, February 7th. Finally, Oppenheimer raised their price target on 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. Ten research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $2,720.59.

Chipotle Mexican Grill Price Performance

NYSE CMG opened at $2,957.60 on Thursday. Chipotle Mexican Grill has a fifty-two week low of $1,706.14 and a fifty-two week high of $3,023.98. The stock’s 50-day moving average is $2,749.70 and its two-hundred day moving average is $2,355.75. The firm has a market cap of $81.10 billion, a P/E ratio of 66.69, a price-to-earnings-growth ratio of 2.53 and a beta of 1.28.

Shares of Chipotle Mexican Grill are going 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 market closes on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Tuesday, February 6th. The restaurant operator reported $10.36 earnings per share for the quarter, beating the consensus estimate of $9.73 by $0.63. Chipotle Mexican Grill had a return on equity of 44.41% and a net margin of 12.45%. The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period last year, the company earned $8.29 earnings per share. The business’s revenue was up 15.4% compared to the same quarter last year. On average, equities analysts expect that Chipotle Mexican Grill will post 53.31 EPS for the current year.

Insider Activity

In related news, insider Christopher W. Brandt sold 3,149 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 8,563 shares of the company’s stock, valued at approximately $25,071,093.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Christopher W. Brandt sold 3,149 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 8,563 shares of the company’s stock, valued at approximately $25,071,093.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Roger E. Theodoredis sold 898 shares of the company’s 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 completion of the transaction, 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. Over the last 90 days, insiders sold 6,793 shares of company stock worth $18,321,152. Insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Chipotle Mexican Grill

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Northern Trust Corp lifted its position in Chipotle Mexican Grill by 5.0% during the 3rd quarter. Northern Trust Corp now owns 283,203 shares of the restaurant operator’s stock worth $518,780,000 after buying an additional 13,513 shares in the last quarter. Covestor Ltd lifted its position in Chipotle Mexican Grill by 9.2% during the 3rd quarter. Covestor Ltd now owns 95 shares of the restaurant operator’s stock worth $174,000 after buying an additional 8 shares in the last quarter. NewEdge Wealth LLC bought a new stake in Chipotle Mexican Grill during the 3rd quarter worth about $205,000. Laidlaw Wealth Management LLC lifted its position in Chipotle Mexican Grill by 69.8% during the 3rd quarter. Laidlaw Wealth Management LLC now owns 270 shares of the restaurant operator’s stock worth $495,000 after buying an additional 111 shares in the last quarter. Finally, Clearstead Advisors LLC raised its holdings in shares of Chipotle Mexican Grill by 0.7% in the 3rd quarter. Clearstead Advisors LLC now owns 773 shares of the restaurant operator’s stock valued at $1,416,000 after purchasing an additional 5 shares during the period. 91.31% of the stock is owned by 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.