Chipotle Mexican Grill (NYSE:CMG) Given New $3,050.00 Price Target at Stephens

Chipotle Mexican Grill (NYSE:CMG) had its price objective lifted by Stephens from $3,010.00 to $3,050.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have an equal weight rating on the restaurant operator’s stock.

Several other research analysts have also recently issued reports on the company. Evercore ISI lifted their target price 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. Stifel Nicolaus lifted their price objective on shares of Chipotle Mexican Grill from $2,700.00 to $3,270.00 and gave the stock a buy rating in a report on Thursday, April 11th. Sanford C. Bernstein increased their target price on shares of Chipotle Mexican Grill from $2,800.00 to $3,200.00 and gave the company an outperform rating in a report on Tuesday, March 26th. KeyCorp boosted their price target on shares of Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the stock an overweight rating in a report on Tuesday, April 9th. Finally, Wedbush increased their price objective on shares of Chipotle Mexican Grill from $2,850.00 to $3,200.00 and gave the company a neutral rating in a research note on Thursday. Ten research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $3,137.12.

Chipotle Mexican Grill Price Performance

Shares of Chipotle Mexican Grill stock opened at $3,186.97 on Thursday. Chipotle Mexican Grill has a one year low of $1,768.64 and a one year high of $3,199.99. The firm has a market capitalization of $87.55 billion, a price-to-earnings ratio of 68.01, a PEG ratio of 2.67 and a beta of 1.28. The business has a 50-day simple moving average of $2,822.95 and a 200 day simple moving average of $2,434.49.

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

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 EPS for the quarter, beating analysts’ consensus estimates of $11.63 by $1.74. Chipotle Mexican Grill had a return on equity of 43.74% and a net margin of 12.70%. The business had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.67 billion. On average, sell-side analysts expect that Chipotle Mexican Grill will post 55.08 EPS for the current year.

Insider Buying and Selling

In related news, insider Roger E. Theodoredis sold 898 shares of the firm’s stock in a transaction that occurred 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 owns 1,529 shares in the company, valued at $4,009,420.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Roger E. Theodoredis sold 898 shares of Chipotle Mexican Grill stock in a transaction on Thursday, February 8th. The shares were 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 filing with the SEC, which can be accessed through this link. Also, Director Albert S. Baldocchi sold 750 shares of Chipotle Mexican Grill stock in a transaction on Wednesday, February 14th. The shares were 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 in the company, valued at approximately $97,221,776.21. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,797 shares of company stock worth $13,530,931. 0.96% of the stock is owned by insiders.

Institutional Trading of Chipotle Mexican Grill

Hedge funds have recently made changes to their positions in the business. IFP Advisors Inc grew its holdings in Chipotle Mexican Grill by 13.6% during the 3rd quarter. IFP Advisors Inc now owns 134 shares of the restaurant operator’s stock valued at $245,000 after purchasing an additional 16 shares during the last quarter. Flagship Harbor Advisors LLC bought a new position in Chipotle Mexican Grill in the 3rd quarter worth about $203,000. DAVENPORT & Co LLC grew its stake in Chipotle Mexican Grill by 9.4% in the 3rd quarter. DAVENPORT & Co LLC now owns 291 shares of the restaurant operator’s stock worth $533,000 after acquiring an additional 25 shares in the last quarter. Meridian Wealth Management LLC grew its stake in Chipotle Mexican Grill by 291.2% in the 3rd quarter. Meridian Wealth Management LLC now owns 442 shares of the restaurant operator’s stock worth $810,000 after acquiring an additional 329 shares in the last quarter. Finally, Caprock Group LLC grew its stake in Chipotle Mexican Grill by 4.0% in the 3rd quarter. Caprock Group LLC now owns 208 shares of the restaurant operator’s stock worth $381,000 after acquiring an additional 8 shares in the last quarter. 91.31% of the stock is currently 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.