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

Chipotle Mexican Grill (NYSE:CMG) had its target price upped by equities researchers at BMO Capital Markets from $2,400.00 to $2,850.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “market perform” rating on the restaurant operator’s stock. BMO Capital Markets’ target price indicates a potential downside of 8.27% from the company’s previous close.

A number of other equities analysts have also recently commented on CMG. BTIG Research lifted their target price on Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Wells Fargo & Company increased their target price on Chipotle Mexican Grill from $3,285.00 to $3,300.00 and gave the company an “overweight” rating in a research report on Thursday. Raymond James restated an “outperform” rating and issued a $3,340.00 target price (up from $3,300.00) on shares of Chipotle Mexican Grill in a research note on Thursday. Evercore ISI increased their price objective on shares of Chipotle Mexican Grill from $3,200.00 to $3,600.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, UBS Group increased their price objective on Chipotle Mexican Grill from $3,400.00 to $3,500.00 and gave the company a “buy” rating in a report on Thursday. Eleven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, Chipotle Mexican Grill has an average rating of “Moderate Buy” and a consensus price target of $3,022.11.

Chipotle Mexican Grill Trading Up 6.2 %

NYSE:CMG traded up $180.02 during trading hours on Thursday, hitting $3,106.78. 402,700 shares of the company were exchanged, compared to its average volume of 237,534. The company has a fifty day simple moving average of $2,801.11 and a 200 day simple moving average of $2,411.76. Chipotle Mexican Grill has a one year low of $1,768.64 and a one year high of $3,107.63. The stock has a market capitalization of $85.19 billion, a price-to-earnings ratio of 69.85, a price-to-earnings-growth ratio of 2.47 and a beta of 1.28.

Chipotle Mexican Grill’s stock is going to split on the morning of Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly created shares will be payable to shareholders after the market closes on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 EPS for the quarter, topping the consensus estimate 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 net margin of 12.45% and a return on equity of 44.41%. Equities research analysts predict that Chipotle Mexican Grill will post 53.49 earnings per share for the current fiscal year.

Insider Transactions at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, CEO Brian R. Niccol sold 1,996 shares of the stock in a transaction that occurred 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 directly owns 22,447 shares of the company’s stock, valued at approximately $53,870,779.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Chipotle Mexican Grill news, CEO Brian R. Niccol sold 1,996 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 22,447 shares in the company, valued at approximately $53,870,779.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Roger E. Theodoredis sold 898 shares of the stock in a transaction dated 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 completion of the sale, the insider now directly owns 1,529 shares in the company, valued at $4,009,420.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,793 shares of company stock worth $18,321,152. Insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. L.M. Kohn & Company boosted its position in shares of Chipotle Mexican Grill by 42.5% in the first quarter. L.M. Kohn & Company now owns 228 shares of the restaurant operator’s stock worth $663,000 after buying an additional 68 shares during the period. Argus Investors Counsel Inc. lifted its position in Chipotle Mexican Grill by 9.9% during the 1st quarter. Argus Investors Counsel Inc. now owns 111 shares of the restaurant operator’s stock worth $323,000 after acquiring an additional 10 shares in the last quarter. Summit Financial LLC boosted its holdings in Chipotle Mexican Grill by 28.6% in the 1st quarter. Summit Financial LLC now owns 29,171 shares of the restaurant operator’s stock worth $84,792,000 after acquiring an additional 6,495 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in Chipotle Mexican Grill by 15.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,734 shares of the restaurant operator’s stock valued at $13,761,000 after acquiring an additional 646 shares in the last quarter. Finally, Private Trust Co. NA lifted its position in shares of Chipotle Mexican Grill by 46.4% during the first quarter. Private Trust Co. NA now owns 284 shares of the restaurant operator’s stock worth $826,000 after purchasing an additional 90 shares in 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.