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

Chipotle Mexican Grill (NYSE:CMG)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Raymond James in a research report issued on Thursday, Benzinga reports. They currently have a $3,340.00 price target on the restaurant operator’s stock, up from their previous price target of $3,300.00. Raymond James’ target price indicates a potential upside of 4.72% from the stock’s current price.

CMG has been the subject of several other research reports. Truist Financial increased their price target on Chipotle Mexican Grill from $2,700.00 to $2,920.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Morgan Stanley lifted their target price on shares of Chipotle Mexican Grill from $2,500.00 to $2,986.00 and gave the stock an “equal weight” rating in a research note on Friday, April 12th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Chipotle Mexican Grill from $3,100.00 to $3,300.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. TD Cowen lifted their price objective on shares of Chipotle Mexican Grill from $3,400.00 to $3,500.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Evercore ISI boosted their target price on shares of Chipotle Mexican Grill from $3,200.00 to $3,600.00 and gave the company an “outperform” rating in a report on Thursday. Ten equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, Chipotle Mexican Grill has a consensus rating of “Moderate Buy” and a consensus target price of $3,137.12.

Chipotle Mexican Grill Stock Performance

Shares of CMG stock opened at $3,189.40 on Thursday. The firm has a market cap of $87.61 billion, a price-to-earnings ratio of 68.06, a P/E/G ratio of 2.60 and a beta of 1.28. Chipotle Mexican Grill has a 52 week low of $1,768.64 and a 52 week high of $3,199.99. The firm’s 50-day simple moving average is $2,822.95 and its two-hundred day simple moving average is $2,426.07.

Chipotle Mexican Grill shares are scheduled to split before the market opens on Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly minted shares will be payable to shareholders after the closing bell on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 EPS for the quarter, topping analysts’ consensus estimates of $11.63 by $1.74. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 43.74%. The company had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Analysts forecast that Chipotle Mexican Grill will post 54.07 earnings per share for the current year.

Insider Transactions at Chipotle Mexican Grill

In related news, insider Christopher W. Brandt sold 3,149 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $2,927.84, for a total value of $9,219,768.16. Following the transaction, the insider now owns 8,563 shares of the company’s stock, valued at $25,071,093.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Roger E. Theodoredis sold 898 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 1,529 shares in the company, valued at approximately $4,009,420.25. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 owns 8,563 shares in the company, valued at approximately $25,071,093.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,793 shares of company stock valued at $18,321,152. Insiders own 0.96% of the company’s stock.

Institutional Trading of Chipotle Mexican Grill

Several institutional investors have recently added to or reduced their stakes in the business. IFP Advisors Inc lifted its stake in shares of Chipotle Mexican Grill by 13.6% in the 3rd quarter. IFP Advisors Inc now owns 134 shares of the restaurant operator’s stock valued at $245,000 after acquiring an additional 16 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new position in Chipotle Mexican Grill in the 3rd quarter worth approximately $203,000. DAVENPORT & Co LLC increased its stake in Chipotle Mexican Grill by 9.4% in the 3rd quarter. DAVENPORT & Co LLC now owns 291 shares of the restaurant operator’s stock worth $533,000 after purchasing an additional 25 shares during the period. Meridian Wealth Management LLC lifted its position in Chipotle Mexican Grill by 291.2% in the third quarter. Meridian Wealth Management LLC now owns 442 shares of the restaurant operator’s stock valued at $810,000 after purchasing an additional 329 shares during the last quarter. Finally, Caprock Group LLC boosted its stake in shares of Chipotle Mexican Grill by 4.0% during the third quarter. Caprock Group LLC now owns 208 shares of the restaurant operator’s stock valued at $381,000 after purchasing an additional 8 shares during the period. 91.31% of the stock is currently 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.