Chipotle Mexican Grill (NYSE:CMG) Given New $3,100.00 Price Target at Morgan Stanley

Chipotle Mexican Grill (NYSE:CMG) had its target price increased by Morgan Stanley from $2,986.00 to $3,100.00 in a research note released on Thursday morning, Benzinga reports. They currently have an equal weight rating on the restaurant operator’s stock.

CMG has been the topic of a number of other research reports. Raymond James restated an outperform rating and issued a $3,340.00 target price (up previously from $3,300.00) on shares of Chipotle Mexican Grill in a research report on Thursday. Evercore ISI boosted their target price on shares of Chipotle Mexican Grill from $3,200.00 to $3,600.00 and gave the stock an outperform rating in a research report on Thursday. Wedbush upped their price objective 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. BTIG Research boosted their target price on shares of Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the company a buy rating in a research note on Thursday, March 28th. Finally, Jefferies Financial Group upped their price target on shares of Chipotle Mexican Grill from $2,350.00 to $2,700.00 and gave the company a hold rating in a research note on Tuesday, April 16th. Eleven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, Chipotle Mexican Grill currently has an average rating of Moderate Buy and an average price target of $3,057.68.

Chipotle Mexican Grill Trading Up 1.4 %

Shares of NYSE CMG traded up $44.54 during midday trading on Thursday, reaching $3,156.51. The company’s stock had a trading volume of 23,849 shares, compared to its average volume of 238,875. The stock has a market capitalization of $86.71 billion, a price-to-earnings ratio of 67.09, a PEG ratio of 2.48 and a beta of 1.28. Chipotle Mexican Grill has a fifty-two week low of $1,768.64 and a fifty-two week high of $3,175.00. The stock has a 50 day simple moving average of $2,811.11 and a 200-day simple moving average of $2,416.65.

Chipotle Mexican Grill shares are scheduled to split on the morning of Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly issued shares will be payable to shareholders after the market closes on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings data on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.67 billion. As a group, equities analysts anticipate that Chipotle Mexican Grill will post 53.49 EPS for the current year.

Insider Buying and Selling

In related news, insider Roger E. Theodoredis sold 898 shares of the firm’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 transaction, the insider now owns 1,529 shares of the company’s stock, valued at $4,009,420.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Christopher W. Brandt sold 3,149 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $2,927.84, for a total value of $9,219,768.16. Following the transaction, the insider now directly owns 8,563 shares in the company, valued at $25,071,093.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Roger E. Theodoredis sold 898 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $2,622.25, for a total transaction of $2,354,780.50. Following the completion of the transaction, the insider now owns 1,529 shares in the company, 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 valued at $18,321,152. 0.96% of the stock is owned by insiders.

Institutional Trading of Chipotle Mexican Grill

Hedge funds have recently added to or reduced their stakes in the business. Northern Trust Corp lifted its stake in Chipotle Mexican Grill by 5.0% in the third quarter. Northern Trust Corp now owns 283,203 shares of the restaurant operator’s stock worth $518,780,000 after acquiring an additional 13,513 shares during the period. Covestor Ltd lifted its stake in Chipotle Mexican Grill by 9.2% in the third quarter. Covestor Ltd now owns 95 shares of the restaurant operator’s stock worth $174,000 after acquiring an additional 8 shares during the period. NewEdge Wealth LLC purchased a new stake in Chipotle Mexican Grill in the third quarter worth about $205,000. Laidlaw Wealth Management LLC lifted its stake in Chipotle Mexican Grill by 69.8% in the third quarter. Laidlaw Wealth Management LLC now owns 270 shares of the restaurant operator’s stock worth $495,000 after acquiring an additional 111 shares during the period. Finally, Clearstead Advisors LLC lifted its position in shares of Chipotle Mexican Grill by 0.7% during the third quarter. Clearstead Advisors LLC now owns 773 shares of the restaurant operator’s stock valued at $1,416,000 after buying an additional 5 shares during the last quarter. 91.31% of the stock is 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.