Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $2,850.00 at BMO Capital Markets

Chipotle Mexican Grill (NYSE:CMG) had its target price increased by BMO Capital Markets from $2,400.00 to $2,850.00 in a research note published on Thursday morning, Benzinga reports. The brokerage currently has a market perform rating on the restaurant operator’s stock.

CMG has been the subject of several other reports. Raymond James reissued an outperform rating and set a $3,340.00 price objective (up from $3,300.00) on shares of Chipotle Mexican Grill in a report on Thursday. BTIG Research increased their price objective on Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the company a buy rating in a report on Thursday, March 28th. Stephens increased their price objective on Chipotle Mexican Grill from $3,010.00 to $3,050.00 and gave the company an equal weight rating in a report on Thursday. Morgan Stanley increased their price objective on Chipotle Mexican Grill from $2,986.00 to $3,100.00 and gave the company an equal weight rating in a report on Thursday. Finally, Argus increased their price objective on Chipotle Mexican Grill from $3,265.00 to $3,366.00 and gave the company a buy rating in a report on Thursday, April 4th. Eleven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Chipotle Mexican Grill has a consensus rating of Moderate Buy and a consensus target price of $3,057.68.

Chipotle Mexican Grill Trading Up 2.3 %

Shares of CMG traded up $71.82 on Thursday, reaching $3,183.79. 228,919 shares of the company’s stock traded hands, compared to its average volume of 241,128. The stock has a market cap of $87.46 billion, a PE ratio of 67.09, a PEG ratio of 2.48 and a beta of 1.28. The stock’s 50 day simple moving average is $2,811.11 and its two-hundred day simple moving average is $2,416.65. Chipotle Mexican Grill has a 52-week low of $1,768.64 and a 52-week high of $3,199.99.

Chipotle Mexican Grill shares are set to split before the market opens on Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly issued shares will be distributed 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 analysts’ consensus estimates 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 return on equity of 45.46% and a net margin of 12.70%. Analysts forecast that Chipotle Mexican Grill will post 53.49 earnings per share for the current year.

Insider Buying and Selling at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Christopher W. Brandt sold 3,149 shares of Chipotle Mexican Grill stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $2,927.84, for a total transaction of $9,219,768.16. Following the sale, the insider now directly owns 8,563 shares of the company’s stock, valued at approximately $25,071,093.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Chipotle Mexican Grill news, insider Christopher W. Brandt sold 3,149 shares of Chipotle Mexican Grill stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $2,927.84, for a total transaction of $9,219,768.16. Following the sale, the insider now directly owns 8,563 shares of the company’s stock, valued at approximately $25,071,093.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian R. Niccol sold 1,996 shares of Chipotle Mexican Grill stock in a transaction that occurred on 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 directly owns 22,447 shares in the company, valued at $53,870,779.77. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,793 shares of company stock valued at $18,321,152. 0.96% of the stock is currently owned by corporate insiders.

Institutional Trading of Chipotle Mexican Grill

A number of hedge funds have recently made changes to their positions in the stock. Mesirow Financial Investment Management Inc. bought a new stake in shares of Chipotle Mexican Grill in the 1st quarter worth approximately $230,000. Emerald Advisors LLC purchased a new position in Chipotle Mexican Grill in the 1st quarter worth approximately $872,000. Meridian Wealth Management LLC raised its holdings in Chipotle Mexican Grill by 4.0% in the 1st quarter. Meridian Wealth Management LLC now owns 234 shares of the restaurant operator’s stock worth $680,000 after acquiring an additional 9 shares during the last quarter. Lindbrook Capital LLC raised its holdings in Chipotle Mexican Grill by 5.1% in the 1st quarter. Lindbrook Capital LLC now owns 348 shares of the restaurant operator’s stock worth $1,012,000 after acquiring an additional 17 shares during the last quarter. Finally, Strategy Asset Managers LLC raised its holdings in Chipotle Mexican Grill by 10.1% in the 1st quarter. Strategy Asset Managers LLC now owns 196 shares of the restaurant operator’s stock worth $570,000 after acquiring an additional 18 shares during the last quarter. 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.