Chipotle Mexican Grill (NYSE:CMG) Price Target Raised to $1,646.00 at Morgan Stanley

Chipotle Mexican Grill (NYSE:CMG) had its target price lifted by Morgan Stanley from $1,602.00 to $1,646.00 in a research note published on Wednesday, Price Targets.com reports. Morgan Stanley currently has an equal weight rating on the restaurant operator’s stock.

A number of other equities research analysts also recently commented on CMG. Robert W. Baird restated a buy rating on shares of Chipotle Mexican Grill in a research report on Thursday, May 13th. JPMorgan Chase & Co. increased their target price on shares of Chipotle Mexican Grill from $1,350.00 to $1,460.00 and gave the company a neutral rating in a report on Monday, April 12th. They noted that the move was a valuation call. Wells Fargo & Company increased their target price on shares of Chipotle Mexican Grill from $1,720.00 to $1,780.00 and gave the company an overweight rating in a report on Wednesday, July 14th. Cowen dropped their target price on shares of Chipotle Mexican Grill from $1,900.00 to $1,850.00 and set an outperform rating for the company in a report on Thursday, April 22nd. Finally, Credit Suisse Group increased their target price on shares of Chipotle Mexican Grill from $1,760.00 to $1,875.00 and gave the company an outperform rating in a report on Thursday, April 22nd. Eight investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Chipotle Mexican Grill currently has an average rating of Buy and a consensus price target of $1,719.29.

Shares of NYSE:CMG opened at $1,755.99 on Wednesday. The firm has a market capitalization of $49.43 billion, a P/E ratio of 78.48, a P/E/G ratio of 3.47 and a beta of 1.35. Chipotle Mexican Grill has a 52 week low of $1,094.93 and a 52 week high of $1,778.29. The firm has a 50-day moving average price of $1,445.33.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Monday, July 19th. The restaurant operator reported $7.46 EPS for the quarter, beating the Zacks’ consensus estimate of $6.52 by $0.94. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. Chipotle Mexican Grill had a net margin of 8.57% and a return on equity of 28.98%. The firm’s revenue was up 38.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.40 earnings per share. Analysts anticipate that Chipotle Mexican Grill will post 24.54 EPS for the current year.

In related news, CEO Brian R. Niccol sold 7,798 shares of Chipotle Mexican Grill stock in a transaction on Monday, July 12th. The shares were sold at an average price of $1,608.22, for a total transaction of $12,540,899.56. Following the transaction, the chief executive officer now owns 37,524 shares in the company, valued at approximately $60,346,847.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matt Carey bought 673 shares of Chipotle Mexican Grill stock in a transaction that occurred on Friday, April 23rd. The shares were acquired at an average price of $1,485.00 per share, for a total transaction of $999,405.00. Following the acquisition, the director now directly owns 687 shares in the company, valued at approximately $1,020,195. The disclosure for this purchase can be found here. In the last quarter, insiders sold 12,309 shares of company stock worth $19,365,245. 1.00% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of CMG. Berman Capital Advisors LLC lifted its holdings in shares of Chipotle Mexican Grill by 61.4% during the 4th quarter. Berman Capital Advisors LLC now owns 71 shares of the restaurant operator’s stock valued at $98,000 after acquiring an additional 27 shares in the last quarter. LPL Financial LLC lifted its holdings in shares of Chipotle Mexican Grill by 35.2% during the 4th quarter. LPL Financial LLC now owns 6,626 shares of the restaurant operator’s stock valued at $9,188,000 after acquiring an additional 1,724 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Chipotle Mexican Grill by 6.2% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 3,085 shares of the restaurant operator’s stock valued at $4,278,000 after acquiring an additional 180 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Chipotle Mexican Grill by 192.1% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 739 shares of the restaurant operator’s stock valued at $1,025,000 after acquiring an additional 486 shares in the last quarter. Finally, Tompkins Financial Corp acquired a new position in shares of Chipotle Mexican Grill during the 4th quarter valued at $118,000. Institutional investors and hedge funds own 89.19% of the company’s stock.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. As of December 31, 2020, it owned and operated 2,724 Chipotle restaurants in the United States, 40 international Chipotle restaurants, and 4 non-Chipotle restaurants. The company was founded in 1993 and is headquartered in Newport Beach, California.

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Analyst Recommendations for Chipotle Mexican Grill (NYSE:CMG)

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