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

Chipotle Mexican Grill (NYSE:CMG) had its target price lifted by stock analysts at Evercore ISI from $3,200.00 to $3,600.00 in a report released on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the restaurant operator’s stock. Evercore ISI’s price target suggests a potential upside of 18.71% from the stock’s current price.

Other equities analysts have also issued reports about the company. Wedbush increased their price objective on Chipotle Mexican Grill from $2,850.00 to $3,200.00 and gave the company a “neutral” rating in a report on Thursday. Citigroup increased their price objective on Chipotle Mexican Grill from $3,016.00 to $3,358.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Raymond James raised their price target on Chipotle Mexican Grill from $2,450.00 to $2,550.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Stephens boosted their target price on Chipotle Mexican Grill from $3,010.00 to $3,050.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Morgan Stanley boosted 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. Eleven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $2,914.82.

Chipotle Mexican Grill Price Performance

Shares of Chipotle Mexican Grill stock traded up $105.87 on Thursday, hitting $3,032.63. 171,307 shares of the company’s stock traded hands, compared to its average volume of 233,911. The company has a fifty day moving average of $2,801.11 and a two-hundred day moving average of $2,411.76. Chipotle Mexican Grill has a one year low of $1,768.64 and a one year high of $3,071.71. The company has a market capitalization of $83.15 billion, a price-to-earnings ratio of 68.38, a price-to-earnings-growth ratio of 2.47 and a beta of 1.28.

Chipotle Mexican Grill’s stock is scheduled to split before the market opens on Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly issued shares will be payable to shareholders after the closing bell 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 EPS for the quarter, topping the consensus estimate of $11.63 by $1.74. The firm had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.67 billion. Chipotle Mexican Grill had a return on equity of 44.41% and a net margin of 12.45%. Equities research analysts anticipate that Chipotle Mexican Grill will post 53.49 earnings per share for the current year.

Insider Activity at Chipotle Mexican Grill

In related news, CEO Brian R. Niccol sold 1,996 shares of Chipotle Mexican Grill stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Roger E. Theodoredis sold 898 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $2,622.25, for a total transaction of $2,354,780.50. Following the sale, the insider now directly owns 1,529 shares of the company’s stock, valued at $4,009,420.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian R. Niccol sold 1,996 shares of the business’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 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 a total of 6,793 shares of company stock valued at $18,321,152 over the last ninety days. 0.96% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Chipotle Mexican Grill in the fourth quarter worth about $805,529,000. International Assets Investment Management LLC raised its position in shares of Chipotle Mexican Grill by 220,249.6% during the 4th quarter. International Assets Investment Management LLC now owns 301,879 shares of the restaurant operator’s stock worth $6,903,850,000 after purchasing an additional 301,742 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Chipotle Mexican Grill by 41.6% during the 3rd quarter. Wellington Management Group LLP now owns 397,182 shares of the restaurant operator’s stock worth $727,570,000 after purchasing an additional 116,723 shares during the last quarter. Global Assets Advisory LLC acquired a new position in shares of Chipotle Mexican Grill during the 1st quarter worth about $167,256,000. Finally, 1832 Asset Management L.P. acquired a new position in shares of Chipotle Mexican Grill during the 4th quarter worth about $100,535,000. 91.31% of the stock is currently 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.