Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $3,200.00 at Wedbush

Chipotle Mexican Grill (NYSE:CMG) had its price objective lifted by investment analysts at Wedbush from $2,850.00 to $3,200.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the restaurant operator’s stock. Wedbush’s price objective indicates a potential upside of 9.46% from the company’s current price.

A number of other brokerages also recently commented on CMG. Morgan Stanley upped their target price on shares of Chipotle Mexican Grill from $2,500.00 to $2,986.00 and gave the stock an “equal weight” rating in a research note on Friday, April 12th. BTIG Research upped their target price on shares of Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Chipotle Mexican Grill from $3,100.00 to $3,300.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Robert W. Baird reiterated an “outperform” rating and set a $2,650.00 price objective on shares of Chipotle Mexican Grill in a research note on Monday, January 22nd. Finally, Stifel Nicolaus increased their price objective on shares of Chipotle Mexican Grill from $2,700.00 to $3,270.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Eleven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $2,824.86.

Chipotle Mexican Grill Trading Up 0.3 %

Shares of NYSE CMG opened at $2,923.32 on Thursday. The firm’s 50-day moving average price is $2,801.11 and its 200-day moving average price is $2,411.76. The stock has a market capitalization of $80.16 billion, a price-to-earnings ratio of 65.91, a P/E/G ratio of 2.47 and a beta of 1.28. Chipotle Mexican Grill has a 12-month low of $1,768.64 and a 12-month high of $3,023.98.

Chipotle Mexican Grill shares are going 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 quarterly earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 EPS for the quarter, beating the consensus estimate of $11.63 by $1.74. The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.67 billion. Chipotle Mexican Grill had a net margin of 12.45% and a return on equity of 44.41%. On average, equities analysts predict that Chipotle Mexican Grill will post 53.49 EPS for the current fiscal year.

Insider Activity

In other news, CEO Brian R. Niccol sold 1,996 shares of Chipotle Mexican Grill stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $2,399.91, for a total value of $4,790,220.36. Following the sale, the chief executive officer now owns 22,447 shares in the company, valued at $53,870,779.77. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, 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 value of $4,790,220.36. Following the transaction, the chief executive officer now directly owns 22,447 shares of the company’s stock, valued at $53,870,779.77. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Albert S. Baldocchi sold 750 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $2,608.51, for a total transaction of $1,956,382.50. Following the completion of the transaction, the director now directly owns 37,271 shares in the company, valued at $97,221,776.21. The disclosure for this sale can be found here. Insiders have sold a total of 6,793 shares of company stock worth $18,321,152 over the last 90 days. 0.96% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

Several hedge funds and other institutional investors have recently modified their holdings of CMG. IFP Advisors Inc lifted its stake in shares of Chipotle Mexican Grill by 13.6% in the third quarter. IFP Advisors Inc now owns 134 shares of the restaurant operator’s stock worth $245,000 after buying an additional 16 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new position in Chipotle Mexican Grill during the third quarter worth about $203,000. DAVENPORT & Co LLC raised its stake in Chipotle Mexican Grill by 9.4% during the third quarter. DAVENPORT & Co LLC now owns 291 shares of the restaurant operator’s stock worth $533,000 after purchasing an additional 25 shares during the period. Meridian Wealth Management LLC raised its stake in Chipotle Mexican Grill by 291.2% during the third quarter. Meridian Wealth Management LLC now owns 442 shares of the restaurant operator’s stock worth $810,000 after purchasing an additional 329 shares during the period. Finally, Caprock Group LLC raised its stake in Chipotle Mexican Grill by 4.0% during the third quarter. Caprock Group LLC now owns 208 shares of the restaurant operator’s stock worth $381,000 after purchasing an additional 8 shares during the period. 91.31% of the stock is 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.