Chipotle Mexican Grill (NYSE:CMG) Price Target Increased to $3,600.00 by Analysts at Evercore ISI

Chipotle Mexican Grill (NYSE:CMG) had its price objective increased by equities research analysts at Evercore ISI from $3,200.00 to $3,600.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the restaurant operator’s stock. Evercore ISI’s price objective points to a potential upside of 18.71% from the company’s previous close.

A number of other equities research analysts have also recently commented on CMG. BTIG Research increased their price target on shares of Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the company a “buy” rating in a report on Thursday, March 28th. Stephens increased their price target on shares of Chipotle Mexican Grill from $3,010.00 to $3,050.00 and gave the company an “equal weight” rating in a report on Thursday. UBS Group increased their price target on shares of Chipotle Mexican Grill from $2,900.00 to $3,400.00 and gave the company a “buy” rating in a report on Thursday, April 11th. KeyCorp increased their price objective on shares of Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. Finally, BMO Capital Markets increased their price objective on shares of Chipotle Mexican Grill from $2,100.00 to $2,400.00 and gave the company a “market perform” rating in a research report on Wednesday, February 7th. Eleven research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, Chipotle Mexican Grill has an average rating of “Moderate Buy” and a consensus target price of $2,914.82.

Chipotle Mexican Grill Trading Up 3.6 %

CMG traded up $105.87 during midday trading on Thursday, reaching $3,032.63. The company’s stock had a trading volume of 171,307 shares, compared to its average volume of 233,911. The firm has a market capitalization of $83.15 billion, a price-to-earnings ratio of 68.38, 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 $3,071.71. The stock’s 50-day moving average is $2,801.11 and its 200-day moving average is $2,411.76.

Chipotle Mexican Grill’s stock is going to split on the morning of Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly created shares will be distributed to shareholders after the closing bell on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data 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. Chipotle Mexican Grill had a net margin of 12.45% and a return on equity of 44.41%. The business had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.67 billion. As a group, equities research analysts forecast that Chipotle Mexican Grill will post 53.49 earnings per share for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On Chipotle Mexican Grill

Institutional investors and hedge funds have recently made changes to their positions in the business. Northern Trust Corp grew its stake in shares of Chipotle Mexican Grill by 5.0% in the 3rd quarter. Northern Trust Corp now owns 283,203 shares of the restaurant operator’s stock worth $518,780,000 after buying an additional 13,513 shares in the last quarter. Covestor Ltd grew its stake in shares of Chipotle Mexican Grill by 9.2% in the 3rd quarter. Covestor Ltd now owns 95 shares of the restaurant operator’s stock worth $174,000 after buying an additional 8 shares in the last quarter. NewEdge Wealth LLC purchased a new position in shares of Chipotle Mexican Grill in the 3rd quarter worth $205,000. Laidlaw Wealth Management LLC grew its stake in shares of Chipotle Mexican Grill by 69.8% in the 3rd quarter. Laidlaw Wealth Management LLC now owns 270 shares of the restaurant operator’s stock worth $495,000 after buying an additional 111 shares in the last quarter. Finally, Clearstead Advisors LLC grew its stake in shares of Chipotle Mexican Grill by 0.7% in the 3rd quarter. Clearstead Advisors LLC now owns 773 shares of the restaurant operator’s stock worth $1,416,000 after buying an additional 5 shares in the last quarter. 91.31% of the stock is owned by hedge funds and other institutional investors.

About Chipotle Mexican Grill

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.