Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $3,350.00 at BTIG Research

Chipotle Mexican Grill (NYSE:CMG) had its price target boosted by BTIG Research from $3,250.00 to $3,350.00 in a report released on Thursday, Benzinga reports. BTIG Research currently has a buy rating on the restaurant operator’s stock.

Other equities research analysts have also issued research reports about the stock. Robert W. Baird lifted their price objective on shares of Chipotle Mexican Grill from $3,250.00 to $3,500.00 and gave the company an outperform rating in a report on Thursday. KeyCorp lifted their price objective on shares of Chipotle Mexican Grill from $3,250.00 to $3,400.00 and gave the stock an overweight rating in a research report on Thursday. Wedbush boosted their target price on shares of Chipotle Mexican Grill from $2,850.00 to $3,200.00 and gave the stock a neutral rating in a research report on Thursday. Stephens lifted their price objective on shares of Chipotle Mexican Grill from $3,010.00 to $3,050.00 and gave the company an equal weight rating in a research note on Thursday. Finally, Wells Fargo & Company boosted their target price on shares of Chipotle Mexican Grill from $3,285.00 to $3,300.00 and gave the company an overweight rating in a research note on Thursday. Eleven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, Chipotle Mexican Grill presently has an average rating of Moderate Buy and a consensus price target of $3,057.68.

Chipotle Mexican Grill Stock Up 2.3 %

NYSE:CMG traded up $71.82 during trading hours on Thursday, hitting $3,183.79. 228,919 shares of the stock traded hands, compared to its average volume of 241,128. The stock has a 50 day moving average price of $2,811.11 and a 200 day moving average price of $2,416.65. The company has a market cap of $87.46 billion, a price-to-earnings ratio of 67.09, a price-to-earnings-growth ratio of 2.48 and a beta of 1.28. Chipotle Mexican Grill has a 1 year low of $1,768.64 and a 1 year high of $3,199.99.

Shares of Chipotle Mexican Grill are scheduled to split on 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 earnings per share for the quarter, beating the consensus estimate of $11.63 by $1.74. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 45.46%. The company had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Equities analysts forecast that Chipotle Mexican Grill will post 53.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Roger E. Theodoredis sold 898 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $2,622.25, for a total value of $2,354,780.50. Following the sale, the insider now owns 1,529 shares in the company, valued at $4,009,420.25. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Chipotle Mexican Grill news, insider Christopher W. Brandt sold 3,149 shares of Chipotle Mexican Grill 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 transaction, the insider now directly 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 SEC, which can be accessed through this hyperlink. Also, insider Roger E. Theodoredis sold 898 shares of Chipotle Mexican Grill stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $2,622.25, for a total value of $2,354,780.50. Following the transaction, the insider now directly owns 1,529 shares of the company’s stock, valued at $4,009,420.25. The disclosure for this sale can be found here. Over the last quarter, 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

A number of hedge funds and other institutional investors have recently made changes to their positions in CMG. Norges Bank bought a new position in shares of Chipotle Mexican Grill during the fourth quarter valued at $805,529,000. International Assets Investment Management LLC raised its holdings in shares of Chipotle Mexican Grill by 220,249.6% in the fourth quarter. International Assets Investment Management LLC now owns 301,879 shares of the restaurant operator’s stock valued at $6,903,850,000 after buying an additional 301,742 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Chipotle Mexican Grill by 41.6% in the third quarter. Wellington Management Group LLP now owns 397,182 shares of the restaurant operator’s stock valued at $727,570,000 after buying an additional 116,723 shares during the last quarter. Global Assets Advisory LLC bought a new position in shares of Chipotle Mexican Grill in the first quarter valued at about $167,256,000. Finally, 1832 Asset Management L.P. bought a new position in shares of Chipotle Mexican Grill in the fourth quarter valued at about $100,535,000. 91.31% of the stock is owned by 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.