Chipotle Mexican Grill’s (CMG) Outperform Rating Reaffirmed at Raymond James

Raymond James reaffirmed their outperform rating on shares of Chipotle Mexican Grill (NYSE:CMG) in a research report report published on Thursday morning, Benzinga reports. They currently have a $3,340.00 price objective on the restaurant operator’s stock, up from their prior price objective of $3,300.00.

Other research analysts also recently issued reports about the stock. Jefferies Financial Group boosted their price objective on shares of Chipotle Mexican Grill from $2,350.00 to $2,700.00 and gave the company a hold rating in a research report on Tuesday, April 16th. Morgan Stanley boosted their price objective on shares of Chipotle Mexican Grill from $2,500.00 to $2,986.00 and gave the company an equal weight rating in a research report on Friday, April 12th. Stephens boosted their target price on shares of Chipotle Mexican Grill from $3,010.00 to $3,050.00 and gave the stock an equal weight rating in a research report on Thursday. Barclays boosted their target price on shares of Chipotle Mexican Grill from $2,246.00 to $2,400.00 and gave the stock an equal weight rating in a research report on Wednesday, February 7th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Chipotle Mexican Grill from $3,100.00 to $3,300.00 and gave the stock a buy rating in a research report on Wednesday, March 20th. Eleven equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, Chipotle Mexican Grill presently has a consensus rating of Moderate Buy and a consensus price target of $3,057.68.

Chipotle Mexican Grill Trading Up 2.2 %

Shares of NYSE CMG traded up $69.27 during midday trading on Thursday, reaching $3,181.24. The company’s stock had a trading volume of 156,099 shares, compared to its average volume of 240,293. The company has a 50 day moving average price of $2,811.11 and a 200 day moving average price of $2,416.65. Chipotle Mexican Grill has a one year low of $1,768.64 and a one year high of $3,182.21. The company has a market cap of $87.39 billion, a price-to-earnings ratio of 67.09, a price-to-earnings-growth ratio of 2.48 and a beta of 1.28.

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 issued to shareholders after the market closes on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.67 billion. Research analysts anticipate that Chipotle Mexican Grill will post 53.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Albert S. Baldocchi sold 750 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $2,608.51, for a total value of $1,956,382.50. Following the transaction, the director now owns 37,271 shares of the company’s stock, valued at approximately $97,221,776.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $1,956,382.50. Following the sale, the director now directly owns 37,271 shares in the company, valued at approximately $97,221,776.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher W. Brandt sold 3,149 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $2,927.84, for a total transaction of $9,219,768.16. Following the completion of the sale, the insider now owns 8,563 shares in the company, valued at $25,071,093.92. 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 in the last 90 days. 0.96% of the stock is currently owned by insiders.

Institutional Trading of Chipotle Mexican Grill

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

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.