Chipotle Mexican Grill (NYSE:CMG) Given New $3,350.00 Price Target at BTIG Research

Chipotle Mexican Grill (NYSE:CMG) had its target price raised by analysts at BTIG Research from $3,250.00 to $3,350.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the restaurant operator’s stock. BTIG Research’s price objective points to a potential upside of 5.04% from the stock’s current price.

A number of other research firms have also commented on CMG. Wells Fargo & Company upped their price objective on shares of Chipotle Mexican Grill from $3,285.00 to $3,300.00 and gave the company an “overweight” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Chipotle Mexican Grill from $3,400.00 to $3,600.00 and gave the company a “buy” rating in a research note on Thursday. Wedbush upped their price objective on shares of Chipotle Mexican Grill from $2,850.00 to $3,200.00 and gave the company a “neutral” rating in a research note on Thursday. Oppenheimer reaffirmed an “outperform” rating and issued a $3,300.00 price objective (up from $2,825.00) on shares of Chipotle Mexican Grill in a research note on Thursday. Finally, Morgan Stanley upped their price objective on shares of Chipotle Mexican Grill from $2,986.00 to $3,100.00 and gave the company an “equal weight” rating in a research note on Thursday. Ten equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $3,137.12.

Chipotle Mexican Grill Price Performance

CMG stock opened at $3,189.40 on Thursday. The company has a 50 day simple moving average of $2,822.95 and a 200 day simple moving average of $2,426.07. The stock has a market cap of $87.61 billion, a price-to-earnings ratio of 68.06, a P/E/G ratio of 2.60 and a beta of 1.28. Chipotle Mexican Grill has a 1 year low of $1,768.64 and a 1 year high of $3,199.99.

Chipotle Mexican Grill shares are set 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 distributed to shareholders after the market closes on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Wednesday, April 24th. The restaurant operator reported $13.37 earnings per share (EPS) for the quarter, beating 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 43.74%. The firm had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.67 billion. On average, equities research analysts anticipate that Chipotle Mexican Grill will post 54.07 EPS for the current fiscal year.

Insider Activity

In other 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 completion of the transaction, the insider now directly owns 1,529 shares in the company, valued at $4,009,420.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Christopher W. Brandt sold 3,149 shares of the firm’s 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 value of $9,219,768.16. Following the completion of 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 Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $2,354,780.50. Following the completion of the sale, the insider now directly 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 ninety days, insiders sold 6,793 shares of company stock worth $18,321,152. 0.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chipotle Mexican Grill

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Chipotle Mexican Grill by 0.9% in the fourth 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 raised its stake in Chipotle Mexican Grill by 0.8% in the fourth quarter. Capital World Investors now owns 1,125,974 shares of the restaurant operator’s stock valued at $2,575,057,000 after purchasing an additional 8,541 shares in the last quarter. Artisan Partners Limited Partnership raised its stake in Chipotle Mexican Grill by 1.5% in the third quarter. Artisan Partners Limited Partnership now owns 509,953 shares of the restaurant operator’s stock valued at $934,147,000 after purchasing an additional 7,677 shares in the last quarter. FMR LLC raised its stake 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 purchasing an additional 24,991 shares in the last quarter. Finally, American Century Companies Inc. raised its stake 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 purchasing an additional 13,482 shares in 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.