Chipotle Mexican Grill (NYSE:CMG) Given New $3,500.00 Price Target at Robert W. Baird

Chipotle Mexican Grill (NYSE:CMG) had its target price upped by Robert W. Baird from $3,250.00 to $3,500.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the restaurant operator’s stock. Robert W. Baird’s target price would suggest a potential upside of 19.73% from the company’s current price.

A number of other equities research analysts also recently commented on CMG. Wedbush boosted their price objective on shares of Chipotle Mexican Grill from $2,850.00 to $3,200.00 and gave the company a “neutral” rating in a research report on Thursday. Stephens assumed coverage on Chipotle Mexican Grill in a report on Friday, April 12th. They issued an “equal weight” rating and a $3,010.00 price target for the company. UBS Group raised their price objective on Chipotle Mexican Grill from $2,900.00 to $3,400.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Morgan Stanley upped their target price on Chipotle Mexican Grill from $2,500.00 to $2,986.00 and gave the company an “equal weight” rating in a research note on Friday, April 12th. Finally, KeyCorp increased their price objective on shares of Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Eleven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, Chipotle Mexican Grill has a consensus rating of “Moderate Buy” and an average price target of $2,824.86.

Chipotle Mexican Grill Price Performance

NYSE CMG opened at $2,923.32 on Thursday. The company has a market capitalization of $80.16 billion, a P/E ratio of 65.91, a PEG ratio of 2.47 and a beta of 1.28. Chipotle Mexican Grill has a 1-year low of $1,768.64 and a 1-year high of $3,023.98. The business has a 50 day moving average price of $2,801.11 and a 200 day moving average price of $2,411.76.

Chipotle Mexican Grill’s stock is set 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 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 44.41% and a net margin of 12.45%. On average, research analysts expect that Chipotle Mexican Grill will post 53.49 earnings per share for the current fiscal year.

Insider Activity at Chipotle Mexican Grill

In related news, Director Albert S. Baldocchi sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $2,608.51, for a total transaction of $1,956,382.50. Following the sale, the director now directly owns 37,271 shares of the company’s stock, valued at approximately $97,221,776.21. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Brian R. Niccol sold 1,996 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $2,399.91, for a total transaction of $4,790,220.36. Following the completion of the transaction, the chief executive officer now directly owns 22,447 shares of the company’s stock, valued at $53,870,779.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Albert S. Baldocchi sold 750 shares of the stock in a transaction that occurred 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 sale, the director now owns 37,271 shares in the company, valued at $97,221,776.21. The disclosure for this sale can be found here. Insiders sold a total of 6,793 shares of company stock valued at $18,321,152 over the last three months. 0.96% of the stock is owned by insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several large investors have recently added to or reduced their stakes in CMG. Vanguard Group Inc. grew its position in shares of Chipotle Mexican Grill by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 2,707,233 shares of the restaurant operator’s stock worth $6,191,334,000 after acquiring an additional 23,151 shares during the last quarter. Capital World Investors grew its position in Chipotle Mexican Grill by 0.8% in the 4th quarter. Capital World Investors now owns 1,125,974 shares of the restaurant operator’s stock worth $2,575,057,000 after purchasing an additional 8,541 shares during the last quarter. Artisan Partners Limited Partnership grew its position in Chipotle Mexican Grill by 1.5% in the 3rd quarter. Artisan Partners Limited Partnership now owns 509,953 shares of the restaurant operator’s stock worth $934,147,000 after purchasing an additional 7,677 shares during the last quarter. FMR LLC increased its stake in shares of Chipotle Mexican Grill by 5.9% in the third quarter. FMR LLC now owns 449,942 shares of the restaurant operator’s stock valued at $824,217,000 after purchasing an additional 24,991 shares during the period. Finally, American Century Companies Inc. raised its holdings in shares of Chipotle Mexican Grill by 3.5% during the third quarter. American Century Companies Inc. now owns 399,902 shares of the restaurant operator’s stock valued at $732,552,000 after buying an additional 13,482 shares during the last quarter. 91.31% of the stock is owned by institutional investors and hedge funds.

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.