Chipotle Mexican Grill (NYSE:CMG) Rating Reiterated by Piper Jaffray Companies

Piper Jaffray Companies restated their overweight rating on shares of Chipotle Mexican Grill (NYSE:CMG) in a research note released on Monday, BenzingaRatingsTable reports. They currently have a $824.00 target price on the restaurant operator’s stock, up from their prior target price of $792.00.

Other analysts also recently issued research reports about the company. Morgan Stanley set a $60.00 price objective on Berry Global Group and gave the stock a hold rating in a report on Wednesday, April 17th. TheStreet upgraded Viacom from a c+ rating to a b- rating in a report on Wednesday, April 24th. Argus boosted their price objective on Chipotle Mexican Grill from $770.00 to $840.00 in a report on Thursday, April 25th. Robert W. Baird assumed coverage on The Medicines in a report on Wednesday, March 27th. They set an outperform rating and a $80.00 price objective on the stock. Finally, JPMorgan Chase & Co. restated an overweight rating on shares of in a report on Friday, June 28th. Six research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $667.10.

Shares of Chipotle Mexican Grill stock opened at $764.04 on Monday. The company has a current ratio of 1.44, a quick ratio of 1.41 and a debt-to-equity ratio of 1.69. The business has a 50-day simple moving average of $723.97. Chipotle Mexican Grill has a 52 week low of $383.20 and a 52 week high of $765.99. The company has a market capitalization of $20.86 billion, a PE ratio of 74.14, a PEG ratio of 3.01 and a beta of 0.67.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Wednesday, April 24th. The restaurant operator reported $3.40 EPS for the quarter, topping the consensus estimate of $3.01 by $0.39. Chipotle Mexican Grill had a net margin of 4.08% and a return on equity of 19.78%. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the previous year, the business earned $2.13 earnings per share. Chipotle Mexican Grill’s revenue for the quarter was up 13.9% compared to the same quarter last year. Equities research analysts anticipate that Chipotle Mexican Grill will post 13.03 EPS for the current fiscal year.

In other news, CTO Curtis E. Garner sold 9,276 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $738.02, for a total value of $6,845,873.52. Following the transaction, the chief technology officer now owns 15,780 shares in the company, valued at approximately $11,645,955.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Pershing Square Capital Manage sold 80,000 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $726.15, for a total value of $58,092,000.00. The disclosure for this sale can be found here. Insiders sold a total of 91,081 shares of company stock worth $66,273,971 in the last quarter. 2.21% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of CMG. FMR LLC increased its holdings in shares of Chipotle Mexican Grill by 88.7% in the 1st quarter. FMR LLC now owns 1,143,585 shares of the restaurant operator’s stock valued at $812,301,000 after purchasing an additional 537,677 shares during the period. Norges Bank acquired a new position in shares of Chipotle Mexican Grill in the 4th quarter valued at about $104,491,000. Investec Asset Management LTD bought a new stake in shares of Chipotle Mexican Grill in the 1st quarter valued at approximately $95,731,000. American Century Companies Inc. grew its stake in shares of Chipotle Mexican Grill by 42.3% in the 4th quarter. American Century Companies Inc. now owns 443,485 shares of the restaurant operator’s stock valued at $191,492,000 after buying an additional 131,803 shares in the last quarter. Finally, Macquarie Group Ltd. grew its stake in shares of Chipotle Mexican Grill by 495.5% in the 4th quarter. Macquarie Group Ltd. now owns 127,864 shares of the restaurant operator’s stock valued at $55,209,000 after buying an additional 106,394 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc, together with its subsidiaries, operates Chipotle Mexican Grill restaurants. As of December 31, 2018, it operated 2,491 restaurants, including 2,452 Chipotle restaurants in the United States, 37 Chipotle restaurants internationally, and two non-Chipotle restaurants. The company was founded in 1993 and is headquartered in Newport Beach, California.

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Analyst Recommendations for Chipotle Mexican Grill (NYSE:CMG)

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