KeyCorp Raises Chipotle Mexican Grill (NYSE:CMG) Price Target to $3,400.00

Chipotle Mexican Grill (NYSE:CMG) had its target price raised by equities researchers at KeyCorp from $3,250.00 to $3,400.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the restaurant operator’s stock. KeyCorp’s price objective indicates a potential upside of 9.44% from the stock’s previous close.

A number of other brokerages also recently commented on CMG. Evercore ISI upped their target price on shares of Chipotle Mexican Grill from $3,200.00 to $3,600.00 and gave the stock an “outperform” rating in a research note on Thursday. UBS Group increased their price objective on shares of Chipotle Mexican Grill from $3,400.00 to $3,500.00 and gave the company a “buy” rating in a research note on Thursday. Stephens increased their price objective on shares of Chipotle Mexican Grill from $3,010.00 to $3,050.00 and gave the company an “equal weight” rating in a research note on Thursday. Wells Fargo & Company increased their price objective on shares of Chipotle Mexican Grill from $3,285.00 to $3,300.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Barclays increased their target price on shares of Chipotle Mexican Grill from $2,246.00 to $2,400.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. Eleven investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Chipotle Mexican Grill currently has an average rating of “Moderate Buy” and a consensus target price of $3,022.11.

Chipotle Mexican Grill Trading Up 6.2 %

Chipotle Mexican Grill stock traded up $180.02 during mid-day trading on Thursday, hitting $3,106.78. The stock had a trading volume of 402,700 shares, compared to its average volume of 237,534. The firm has a market capitalization of $85.19 billion, a P/E ratio of 69.85, a P/E/G ratio of 2.47 and a beta of 1.28. The firm’s 50 day moving average is $2,801.11 and its 200 day moving average is $2,411.76. Chipotle Mexican Grill has a one year low of $1,768.64 and a one year high of $3,107.63.

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

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share for the quarter, topping the consensus estimate of $11.63 by $1.74. The company had revenue of $2.70 billion during 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%. As a group, equities research analysts forecast that Chipotle Mexican Grill will post 53.49 earnings per share for the current year.

Insider Activity at Chipotle Mexican Grill

In related news, insider Roger E. Theodoredis sold 898 shares of the firm’s 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 sale, the insider now owns 1,529 shares in the company, valued at $4,009,420.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Roger E. Theodoredis sold 898 shares of Chipotle Mexican Grill stock in a transaction dated 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 document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $4,790,220.36. Following the completion of the sale, the chief executive officer now owns 22,447 shares in the company, valued at approximately $53,870,779.77. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,793 shares of company stock worth $18,321,152. 0.96% of the stock is owned by company insiders.

Institutional Trading of Chipotle Mexican Grill

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Chipotle Mexican Grill by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 2,707,233 shares of the restaurant operator’s stock worth $6,191,334,000 after acquiring an additional 23,151 shares during the last quarter. Capital World Investors boosted its position in Chipotle Mexican Grill by 0.8% during the fourth quarter. Capital World Investors now owns 1,125,974 shares of the restaurant operator’s stock worth $2,575,057,000 after acquiring an additional 8,541 shares during the last quarter. Artisan Partners Limited Partnership boosted its position in Chipotle Mexican Grill by 1.5% during the third quarter. Artisan Partners Limited Partnership now owns 509,953 shares of the restaurant operator’s stock worth $934,147,000 after acquiring an additional 7,677 shares during the last quarter. FMR LLC boosted its position in Chipotle Mexican Grill by 5.9% during the third quarter. FMR LLC now owns 449,942 shares of the restaurant operator’s stock worth $824,217,000 after acquiring an additional 24,991 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Chipotle Mexican Grill by 3.5% during the third quarter. American Century Companies Inc. now owns 399,902 shares of the restaurant operator’s stock worth $732,552,000 after acquiring an additional 13,482 shares during the last quarter. Institutional investors and hedge funds 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.