BMO Capital Markets Boosts Chipotle Mexican Grill (NYSE:CMG) Price Target to $2,850.00

Chipotle Mexican Grill (NYSE:CMG) had its target price increased by analysts at BMO Capital Markets from $2,400.00 to $2,850.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “market perform” rating on the restaurant operator’s stock. BMO Capital Markets’ target price suggests a potential downside of 8.27% from the stock’s previous close.

Several other analysts have also recently weighed in on the company. Sanford C. Bernstein boosted their price target on Chipotle Mexican Grill from $2,800.00 to $3,200.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Truist Financial boosted their price objective on Chipotle Mexican Grill from $2,700.00 to $2,920.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Citigroup upped their target price on Chipotle Mexican Grill from $3,016.00 to $3,358.00 and gave the company a “buy” rating in a report on Monday, April 8th. Oppenheimer reissued an “outperform” rating and set a $3,300.00 price objective (up from $2,825.00) on shares of Chipotle Mexican Grill in a research report on Thursday. Finally, Stephens boosted their target price 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. Eleven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Chipotle Mexican Grill has a consensus rating of “Moderate Buy” and a consensus target price of $3,022.11.

Chipotle Mexican Grill Stock Performance

Shares of Chipotle Mexican Grill stock traded up $180.02 on Thursday, reaching $3,106.78. 402,700 shares of the stock were exchanged, compared to its average volume of 237,534. The firm has a market cap of $85.19 billion, a PE ratio of 69.85, a P/E/G ratio of 2.47 and a beta of 1.28. Chipotle Mexican Grill has a one year low of $1,768.64 and a one year high of $3,107.63. The firm’s 50 day moving average is $2,801.11 and its 200-day moving average is $2,411.76.

Chipotle Mexican Grill shares are going 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 market closes on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last posted its 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 firm had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Chipotle Mexican Grill had a net margin of 12.45% and a return on equity of 44.41%. On average, equities research analysts expect that Chipotle Mexican Grill will post 53.49 EPS for the current fiscal year.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, 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 transaction of $1,956,382.50. Following the completion of the transaction, the director now owns 37,271 shares of the company’s stock, valued at $97,221,776.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Albert S. Baldocchi sold 750 shares of the stock in a transaction that occurred 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 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian R. Niccol sold 1,996 shares of the business’s stock in a transaction 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 owns 22,447 shares of the company’s stock, valued at approximately $53,870,779.77. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,793 shares of company stock valued at $18,321,152. Company insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CMG. Vanguard Group Inc. lifted its stake in shares of Chipotle Mexican Grill by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 2,707,233 shares of the restaurant operator’s stock valued at $6,191,334,000 after purchasing an additional 23,151 shares in the last quarter. Capital World Investors lifted its position in Chipotle Mexican Grill by 0.8% during the 4th quarter. Capital World Investors now owns 1,125,974 shares of the restaurant operator’s stock worth $2,575,057,000 after acquiring an additional 8,541 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings 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 acquiring an additional 7,677 shares during the period. FMR LLC grew its position in 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 acquiring an additional 24,991 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Chipotle Mexican Grill by 3.5% in the third quarter. American Century Companies Inc. now owns 399,902 shares of the restaurant operator’s stock valued at $732,552,000 after acquiring an additional 13,482 shares in the last quarter. 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.