Chipotle Mexican Grill (NYSE:CMG) Given Outperform Rating at Oppenheimer

Oppenheimer restated their outperform rating on shares of Chipotle Mexican Grill (NYSE:CMG) in a report released on Thursday, MarketBeat Ratings reports. They currently have a $3,300.00 price target on the restaurant operator’s stock, up from their previous price target of $2,825.00.

CMG has been the subject of several other research reports. TD Cowen boosted their price target on Chipotle Mexican Grill from $3,400.00 to $3,500.00 and gave the company a buy rating in a report on Thursday. Wedbush boosted their price objective on Chipotle Mexican Grill from $2,850.00 to $3,200.00 and gave the company a neutral rating in a research report on Thursday. Citigroup boosted their price objective on Chipotle Mexican Grill from $3,016.00 to $3,358.00 and gave the company a buy rating in a research report on Monday, April 8th. BMO Capital Markets boosted their price objective on Chipotle Mexican Grill from $2,100.00 to $2,400.00 and gave the company a market perform rating in a research report on Wednesday, February 7th. Finally, Morgan Stanley boosted their price objective on Chipotle Mexican Grill from $2,500.00 to $2,986.00 and gave the company an equal weight rating in a research report on Friday, April 12th. Eleven research 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 stock has an average rating of Moderate Buy and an average price target of $3,057.68.

Chipotle Mexican Grill Price Performance

Shares of CMG traded up $44.54 during trading hours on Thursday, hitting $3,156.51. The stock had a trading volume of 23,849 shares, compared to its average volume of 238,875. The stock has a fifty day moving average price of $2,811.11 and a 200 day moving average price of $2,416.65. Chipotle Mexican Grill has a 12 month low of $1,768.64 and a 12 month high of $3,175.00. The firm has a market capitalization of $86.71 billion, a PE ratio of 67.09, a PEG ratio of 2.48 and a beta of 1.28.

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 minted shares will be payable to shareholders after the market closes on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.63 by $1.74. Chipotle Mexican Grill had a return on equity of 45.46% and a net margin of 12.70%. The business had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.67 billion. As a group, analysts anticipate that Chipotle Mexican Grill will post 53.49 EPS for the current fiscal year.

Insider Buying and Selling

In related 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 value of $4,790,220.36. Following the transaction, the chief executive officer now owns 22,447 shares of the company’s stock, valued at $53,870,779.77. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 898 shares of the stock in a transaction on Thursday, February 8th. The stock was 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 of the company’s stock, valued at approximately $4,009,420.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian R. Niccol sold 1,996 shares of the 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. Insiders have sold a total of 6,793 shares of company stock valued at $18,321,152 over the last quarter. 0.96% of the stock is owned by corporate insiders.

Institutional Trading of Chipotle Mexican Grill

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Northern Trust Corp lifted its holdings in shares of Chipotle Mexican Grill by 5.0% during the 3rd quarter. Northern Trust Corp now owns 283,203 shares of the restaurant operator’s stock valued at $518,780,000 after purchasing an additional 13,513 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Chipotle Mexican Grill by 9.2% during the 3rd quarter. Covestor Ltd now owns 95 shares of the restaurant operator’s stock valued at $174,000 after purchasing an additional 8 shares during the last quarter. NewEdge Wealth LLC purchased a new stake in shares of Chipotle Mexican Grill during the 3rd quarter valued at $205,000. Laidlaw Wealth Management LLC lifted its holdings in shares of Chipotle Mexican Grill by 69.8% during the 3rd quarter. Laidlaw Wealth Management LLC now owns 270 shares of the restaurant operator’s stock valued at $495,000 after purchasing an additional 111 shares during the last quarter. Finally, Clearstead Advisors LLC lifted its holdings in shares of Chipotle Mexican Grill by 0.7% during the 3rd quarter. Clearstead Advisors LLC now owns 773 shares of the restaurant operator’s stock valued at $1,416,000 after purchasing an additional 5 shares during the last quarter. Institutional investors 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.