Chipotle Mexican Grill (NYSE:CMG) Stock Rating Reaffirmed by Raymond James

Raymond James reiterated their outperform rating on shares of Chipotle Mexican Grill (NYSE:CMG) in a report published on Thursday morning, Benzinga reports. They currently have a $3,340.00 price objective on the restaurant operator’s stock, up from their previous price objective of $3,300.00.

Other equities research analysts have also issued reports about the company. Stephens boosted their price objective on Chipotle Mexican Grill from $3,010.00 to $3,050.00 and gave the stock an equal weight rating in a research note on Thursday. Wedbush upped their price target 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. Argus upped their price target on Chipotle Mexican Grill from $3,265.00 to $3,366.00 and gave the company a buy rating in a research report on Thursday, April 4th. BTIG Research upped their price target on Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the company a buy rating in a research report on Thursday, March 28th. Finally, Stifel Nicolaus upped their price target on Chipotle Mexican Grill from $2,700.00 to $3,270.00 and gave the company a buy rating in a research report on Thursday, April 11th. Eleven equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $3,057.68.

Chipotle Mexican Grill Stock Up 2.2 %

Shares of CMG stock traded up $69.27 on Thursday, hitting $3,181.24. The company had a trading volume of 156,099 shares, compared to its average volume of 240,293. The firm has a market cap of $87.39 billion, a P/E ratio of 67.09, a price-to-earnings-growth ratio of 2.48 and a beta of 1.28. The company has a 50-day moving average price of $2,811.11 and a 200-day moving average price of $2,416.65. Chipotle Mexican Grill has a twelve month low of $1,768.64 and a twelve month high of $3,182.21.

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

Insider Transactions at Chipotle Mexican Grill

In other news, insider Christopher W. Brandt sold 3,149 shares of the company’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 completion of the sale, the insider now directly owns 8,563 shares in the company, valued at approximately $25,071,093.92. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Albert S. Baldocchi sold 750 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $2,608.51, for a total value of $1,956,382.50. Following the completion of the sale, the director now directly owns 37,271 shares in the company, valued at approximately $97,221,776.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Christopher W. Brandt sold 3,149 shares of the 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 owns 8,563 shares of the company’s stock, valued at $25,071,093.92. The disclosure for this sale can be found here. Insiders sold a total of 6,793 shares of company stock worth $18,321,152 in the last ninety days. Insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Chipotle Mexican Grill

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Steph & Co. purchased a new position in Chipotle Mexican Grill in the 1st quarter valued at about $29,000. Fortitude Family Office LLC purchased a new position in Chipotle Mexican Grill in the 4th quarter valued at about $32,000. Turtle Creek Wealth Advisors LLC purchased a new position in Chipotle Mexican Grill in the 4th quarter valued at about $37,000. ICA Group Wealth Management LLC purchased a new position in Chipotle Mexican Grill in the 4th quarter valued at about $37,000. Finally, Keener Financial Planning LLC purchased a new position in Chipotle Mexican Grill in the 4th quarter valued at about $43,000. 91.31% of the stock is owned by hedge funds and other institutional investors.

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.