Morgan Stanley Raises Chipotle Mexican Grill (NYSE:CMG) Price Target to $3,100.00

Chipotle Mexican Grill (NYSE:CMG) had its price target lifted by Morgan Stanley from $2,986.00 to $3,100.00 in a research note released on Thursday morning, Benzinga reports. They currently have an equal weight rating on the restaurant operator’s stock.

Other research analysts have also issued research reports about the stock. BMO Capital Markets boosted their target price on shares of Chipotle Mexican Grill from $2,100.00 to $2,400.00 and gave the stock a market perform rating in a research report on Wednesday, February 7th. 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 research report on Thursday. KeyCorp raised their target price on Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the company an overweight rating in a report on Tuesday, April 9th. Wells Fargo & Company lifted their price target on Chipotle Mexican Grill from $3,285.00 to $3,300.00 and gave the stock an overweight rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Chipotle Mexican Grill from $3,100.00 to $3,300.00 and gave the company a buy rating in a research report on Wednesday, March 20th. Ten analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $3,137.12.

Chipotle Mexican Grill Stock Performance

Shares of NYSE CMG opened at $3,186.97 on Thursday. The business’s 50-day simple moving average is $2,822.95 and its 200-day simple moving average is $2,430.22. Chipotle Mexican Grill has a 52 week low of $1,768.64 and a 52 week high of $3,199.99. The firm has a market cap of $87.55 billion, a price-to-earnings ratio of 68.01, a P/E/G ratio of 2.67 and a beta of 1.28.

Shares of Chipotle Mexican Grill 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 payable to shareholders after the closing bell 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 EPS for the quarter, beating analysts’ consensus estimates of $11.63 by $1.74. The company had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.67 billion. Chipotle Mexican Grill had a net margin of 12.70% and a return on equity of 43.74%. As a group, equities research analysts forecast that Chipotle Mexican Grill will post 55.08 earnings per share for the current year.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 898 shares of Chipotle Mexican Grill stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $2,622.25, for a total transaction of $2,354,780.50. Following the completion of the transaction, 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 document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Brian R. Niccol sold 1,996 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 22,447 shares of the company’s stock, valued at approximately $53,870,779.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Roger E. Theodoredis sold 898 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 1,529 shares of the company’s stock, valued at $4,009,420.25. The disclosure for this sale can be found here. Insiders sold 6,793 shares of company stock worth $18,321,152 over the last three months. 0.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Steph & Co. bought a new position in shares of Chipotle Mexican Grill in the first quarter valued at about $29,000. Fortitude Family Office LLC bought a new stake in Chipotle Mexican Grill during the 4th quarter worth about $32,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Chipotle Mexican Grill in the 4th quarter valued at about $37,000. ICA Group Wealth Management LLC bought a new position in shares of Chipotle Mexican Grill in the fourth quarter worth about $37,000. Finally, Keener Financial Planning LLC acquired a new position in shares of Chipotle Mexican Grill during the fourth quarter worth approximately $43,000. Institutional investors and hedge funds own 91.31% of the company’s stock.

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.