Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $2,750.00 at JPMorgan Chase & Co.

Chipotle Mexican Grill (NYSE:CMG) had its price target upped by JPMorgan Chase & Co. from $2,500.00 to $2,750.00 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the restaurant operator’s stock.

Several other equities research analysts also recently commented on the company. Wells Fargo & Company upped their target price on Chipotle Mexican Grill from $3,285.00 to $3,300.00 and gave the company an overweight rating in a report on Thursday. KeyCorp upped their target price on Chipotle Mexican Grill from $3,250.00 to $3,400.00 and gave the stock an overweight rating in a research report on Thursday. Oppenheimer reissued an outperform rating and set a $3,300.00 price objective (up previously from $2,825.00) on shares of Chipotle Mexican Grill in a report on Thursday. Morgan Stanley increased their price objective on Chipotle Mexican Grill from $2,986.00 to $3,100.00 and gave the company an equal weight rating in a report on Thursday. Finally, Stephens increased their price objective on Chipotle Mexican Grill from $3,010.00 to $3,050.00 and gave the company an equal weight rating in a report on Thursday. Eleven research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, Chipotle Mexican Grill currently has a consensus rating of Moderate Buy and an average price target of $3,057.68.

Chipotle Mexican Grill Trading Up 2.3 %

CMG stock traded up $71.82 during trading hours on Thursday, hitting $3,183.79. 228,919 shares of the stock traded hands, compared to its average volume of 241,128. 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 has a one year low of $1,768.64 and a one year high of $3,199.99. The company has a market cap of $87.46 billion, a P/E ratio of 67.09, a P/E/G ratio of 2.48 and a beta of 1.28.

Shares of Chipotle Mexican Grill are scheduled 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 issued to shareholders after the market closes on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last announced its earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share for the quarter, beating the consensus estimate of $11.63 by $1.74. Chipotle Mexican Grill had a return on equity of 45.46% and a net margin of 12.70%. The business had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Analysts forecast that Chipotle Mexican Grill will post 53.49 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Christopher W. Brandt sold 3,149 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Chipotle Mexican Grill news, CEO Brian R. Niccol sold 1,996 shares of Chipotle Mexican Grill stock in a transaction on Monday, January 29th. The stock was sold at an average price of $2,399.91, for a total value of $4,790,220.36. Following the completion of the transaction, the chief executive officer now owns 22,447 shares in the company, valued at approximately $53,870,779.77. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Christopher W. Brandt sold 3,149 shares of Chipotle Mexican Grill stock in a transaction on 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 completion of the transaction, the insider now owns 8,563 shares of the company’s stock, valued at approximately $25,071,093.92. The disclosure for this sale can be found here. Insiders sold 6,793 shares of company stock worth $18,321,152 in the last 90 days. 0.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

Several hedge funds and other institutional investors have recently made changes to their positions in CMG. Norges Bank acquired a new stake in shares of Chipotle Mexican Grill in the 4th quarter valued at $805,529,000. International Assets Investment Management LLC increased its stake in shares of Chipotle Mexican Grill by 220,249.6% in the 4th quarter. International Assets Investment Management LLC now owns 301,879 shares of the restaurant operator’s stock valued at $6,903,850,000 after buying an additional 301,742 shares during the period. Wellington Management Group LLP increased its stake in shares of Chipotle Mexican Grill by 41.6% in the 3rd quarter. Wellington Management Group LLP now owns 397,182 shares of the restaurant operator’s stock valued at $727,570,000 after buying an additional 116,723 shares during the period. Global Assets Advisory LLC acquired a new stake in shares of Chipotle Mexican Grill in the 1st quarter valued at $167,256,000. Finally, 1832 Asset Management L.P. acquired a new stake in shares of Chipotle Mexican Grill in the 4th quarter valued at $100,535,000. 91.31% of the stock is owned by institutional investors and hedge funds.

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.