Evercore ISI Raises Chipotle Mexican Grill (NYSE:CMG) Price Target to $3,600.00

Chipotle Mexican Grill (NYSE:CMG) had its price target hoisted by Evercore ISI from $3,200.00 to $3,600.00 in a research note released on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the restaurant operator’s stock.

Several other research firms also recently weighed in on CMG. Argus lifted their target price on shares of Chipotle Mexican Grill from $3,265.00 to $3,366.00 and gave the stock a buy rating in a research report on Thursday, April 4th. KeyCorp lifted their price objective on shares of Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the stock an overweight rating in a research report on Tuesday, April 9th. Morgan Stanley increased their target price on Chipotle Mexican Grill from $2,500.00 to $2,986.00 and gave the company an equal weight rating in a report on Friday, April 12th. Piper Sandler lifted their price target on Chipotle Mexican Grill from $2,442.00 to $3,070.00 and gave the company a neutral rating in a report on Thursday. Finally, Stephens upped their price target on Chipotle Mexican Grill from $3,010.00 to $3,050.00 and gave the company an equal weight rating in a research report on Thursday. Ten investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $3,137.12.

Chipotle Mexican Grill Stock Up 2.4 %

CMG opened at $3,186.97 on Thursday. The firm has a market cap of $87.55 billion, a PE ratio of 68.01, a P/E/G ratio of 2.67 and a beta of 1.28. The business has a fifty day simple moving average of $2,822.95 and a 200-day simple moving average of $2,430.22. Chipotle Mexican Grill has a fifty-two week low of $1,768.64 and a fifty-two week high of $3,199.99.

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 issued shares will be payable 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 earnings per share for the quarter, topping analysts’ consensus estimates of $11.63 by $1.74. The firm had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Chipotle Mexican Grill had a return on equity of 43.74% and a net margin of 12.70%. On average, equities research analysts anticipate that Chipotle Mexican Grill will post 55.08 EPS for the current fiscal year.

Insider Activity

In related news, insider Christopher W. Brandt sold 3,149 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $2,927.84, for a total value of $9,219,768.16. Following the completion of the sale, the insider now directly owns 8,563 shares in the company, valued at $25,071,093.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Chipotle Mexican Grill news, insider Christopher W. Brandt sold 3,149 shares of the company’s 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 completion of the sale, the insider now owns 8,563 shares of the company’s stock, valued at $25,071,093.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian R. Niccol sold 1,996 shares of the business’s stock in a transaction on Monday, January 29th. The stock was 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 of the company’s stock, valued at $53,870,779.77. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,793 shares of company stock worth $18,321,152. 0.96% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several hedge funds and other institutional investors have recently made changes to their positions in CMG. Vanguard Group Inc. grew its holdings in Chipotle Mexican Grill by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 2,707,233 shares of the restaurant operator’s stock valued at $6,191,334,000 after buying an additional 23,151 shares during the last quarter. Capital World Investors grew its stake in shares of Chipotle Mexican Grill by 0.8% in 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 increased 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 period. FMR LLC boosted its holdings in Chipotle Mexican Grill by 5.9% in the 3rd quarter. FMR LLC now owns 449,942 shares of the restaurant operator’s stock valued at $824,217,000 after purchasing an additional 24,991 shares during the period. Finally, American Century Companies Inc. grew its position in Chipotle Mexican Grill by 3.5% in the 3rd quarter. American Century Companies Inc. now owns 399,902 shares of the restaurant operator’s stock worth $732,552,000 after purchasing an additional 13,482 shares during the last quarter. 91.31% of the stock is owned by institutional investors and hedge funds.

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.