Chipotle Mexican Grill (NYSE:CMG) Given New $3,100.00 Price Target at Morgan Stanley

Chipotle Mexican Grill (NYSE:CMG) had its price objective hoisted by investment analysts at Morgan Stanley from $2,986.00 to $3,100.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the restaurant operator’s stock. Morgan Stanley’s price objective suggests a potential downside of 0.22% from the stock’s current price.

Several other equities research analysts also recently weighed in on the company. BMO Capital Markets raised their price target on Chipotle Mexican Grill from $2,100.00 to $2,400.00 and gave the stock a “market perform” rating in a report on Wednesday, February 7th. Jefferies Financial Group raised their price target on Chipotle Mexican Grill from $2,350.00 to $2,700.00 and gave the stock a “hold” rating in a report on Tuesday, April 16th. Wells Fargo & Company lifted their target price on Chipotle Mexican Grill from $3,285.00 to $3,300.00 and gave the stock an “overweight” rating in a report on Thursday. Sanford C. Bernstein lifted 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, Stephens lifted their target price on Chipotle Mexican Grill from $3,010.00 to $3,050.00 and gave the stock an “equal weight” rating in a report on Thursday. Eleven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $3,022.11.

Chipotle Mexican Grill Stock Up 6.2 %

CMG stock traded up $180.02 during midday trading on Thursday, hitting $3,106.78. The company’s stock had a trading volume of 402,700 shares, compared to its average volume of 237,534. Chipotle Mexican Grill has a 12 month low of $1,768.64 and a 12 month high of $3,107.63. The firm 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. The company has a 50 day moving average of $2,801.11 and a two-hundred day moving average of $2,411.76.

Shares of Chipotle Mexican Grill are set to split before the market opens on 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 earnings per share (EPS) 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 the consensus estimate of $2.67 billion. Chipotle Mexican Grill had a return on equity of 44.41% and a net margin of 12.45%. On average, analysts anticipate that Chipotle Mexican Grill will post 53.49 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Brian R. Niccol sold 1,996 shares of the company’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 transaction, 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 filing with the SEC, which is accessible through the SEC website. In related news, insider Roger E. Theodoredis sold 898 shares of the stock in a transaction dated 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 transaction, the insider now owns 1,529 shares of the company’s stock, valued at approximately $4,009,420.25. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Brian R. Niccol sold 1,996 shares of the company’s stock in a transaction dated 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 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 in the last quarter. Insiders own 0.96% of the company’s stock.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several large investors have recently bought and sold shares of CMG. Steph & Co. purchased a new position in shares of Chipotle Mexican Grill in the 1st quarter valued at about $29,000. Fortitude Family Office LLC purchased a new position in shares of Chipotle Mexican Grill in the 4th quarter valued at about $32,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Chipotle Mexican Grill in the 4th quarter valued at about $37,000. ICA Group Wealth Management LLC purchased a new position in shares of Chipotle Mexican Grill in the 4th quarter valued at about $37,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Chipotle Mexican Grill in the 3rd quarter valued at about $38,000. Hedge funds and other 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.