TD Cowen Boosts Chipotle Mexican Grill (NYSE:CMG) Price Target to $3,500.00

Chipotle Mexican Grill (NYSE:CMG) had its target price hoisted by TD Cowen from $3,400.00 to $3,500.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

A number of other analysts have also commented on the company. Robert W. Baird boosted their price target on Chipotle Mexican Grill from $3,250.00 to $3,500.00 and gave the company an outperform rating in a report on Thursday. Stifel Nicolaus boosted their price target on Chipotle Mexican Grill from $2,700.00 to $3,270.00 and gave the company a buy rating in a report on Thursday, April 11th. Evercore ISI upped their target price on Chipotle Mexican Grill from $2,900.00 to $3,200.00 and gave the stock an outperform rating in a report on Thursday, April 18th. Sanford C. Bernstein upped their target price on Chipotle Mexican Grill from $2,800.00 to $3,200.00 and gave the stock an outperform rating in a report on Tuesday, March 26th. Finally, Raymond James upped their target price on Chipotle Mexican Grill from $2,450.00 to $2,550.00 and gave the stock an outperform rating in a report on Thursday, January 25th. Eleven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $3,057.68.

Chipotle Mexican Grill Price Performance

Shares of Chipotle Mexican Grill stock opened at $3,116.02 on Thursday. The firm has a market cap of $85.60 billion, a price-to-earnings ratio of 66.50, a price-to-earnings-growth ratio of 2.48 and a beta of 1.28. The stock’s 50-day moving average is $2,811.11 and its 200-day moving average is $2,416.65. Chipotle Mexican Grill has a one year low of $1,768.64 and a one year high of $3,145.69.

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 analysts’ consensus estimates of $11.63 by $1.74. The company had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.67 billion. Chipotle Mexican Grill had a return on equity of 45.46% and a net margin of 12.70%. On average, equities analysts expect that Chipotle Mexican Grill will post 53.49 EPS for the current year.

Insider Buying and Selling at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, CEO Brian R. Niccol sold 1,996 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was 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 of the company’s stock, valued at approximately $53,870,779.77. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Christopher W. Brandt sold 3,149 shares of the firm’s stock in a transaction 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 owns 8,563 shares of the company’s stock, valued at approximately $25,071,093.92. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian R. Niccol sold 1,996 shares of the firm’s stock in a transaction 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 approximately $53,870,779.77. The disclosure for this sale can be found here. In the last quarter, 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 Investors Weigh In On Chipotle Mexican Grill

Several hedge funds have recently modified their holdings of CMG. Norges Bank acquired a new stake in shares of Chipotle Mexican Grill during the 4th quarter valued at $805,529,000. International Assets Investment Management LLC boosted its holdings in shares of Chipotle Mexican Grill by 220,249.6% during the 4th quarter. International Assets Investment Management LLC now owns 301,879 shares of the restaurant operator’s stock valued at $6,903,850,000 after acquiring an additional 301,742 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Chipotle Mexican Grill by 41.6% during the 3rd quarter. Wellington Management Group LLP now owns 397,182 shares of the restaurant operator’s stock valued at $727,570,000 after acquiring an additional 116,723 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in shares of Chipotle Mexican Grill during the 1st quarter valued at $167,256,000. Finally, 1832 Asset Management L.P. acquired a new stake in shares of Chipotle Mexican Grill during the 4th quarter valued at $100,535,000. 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.