Chipotle Mexican Grill (NYSE:CMG)‘s stock had its “buy” rating reaffirmed by stock analysts at Maxim Group in a research note issued on Wednesday. They presently have a $410.00 price objective on the restaurant operator’s stock. Maxim Group’s price objective would suggest a potential upside of 28.26% from the stock’s previous close.
The analysts wrote, “We maintain our Buy rating and $410 price target on Chipotle Mexican Grill (CMG) following news that the company’s chief marketing officer, Mark Crumpacker, is exiting the company effective today. We regard today’s news as a sign that new CEO Brian Niccol is moving quickly to take action and make his presence known.””
A number of other equities research analysts have also recently weighed in on CMG. Wedbush restated a “neutral” rating and issued a $310.00 price target (up previously from $285.00) on shares of Chipotle Mexican Grill in a research note on Tuesday. UBS Group set a $275.00 price target on Chipotle Mexican Grill and gave the company a “sell” rating in a research note on Friday, March 9th. Stifel Nicolaus cut Chipotle Mexican Grill from a “hold” rating to a “sell” rating and dropped their price target for the company from $310.00 to $250.00 in a research note on Wednesday, February 7th. Goldman Sachs Group restated a “neutral” rating and issued a $285.00 price target (down previously from $330.00) on shares of Chipotle Mexican Grill in a research note on Thursday, February 8th. Finally, Wells Fargo & Co restated a “market perform” rating and issued a $290.00 price target (up previously from $270.00) on shares of Chipotle Mexican Grill in a research note on Thursday, March 8th. They noted that the move was a valuation call. Eight investment analysts have rated the stock with a sell rating, twenty-three have given a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $337.77.
Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Tuesday, February 6th. The restaurant operator reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.02. Chipotle Mexican Grill had a return on equity of 13.44% and a net margin of 3.94%. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the prior year, the business posted $0.55 EPS. The business’s revenue was up 7.3% compared to the same quarter last year. sell-side analysts expect that Chipotle Mexican Grill will post 8.29 earnings per share for the current year.
In other news, Director Paul T. Cappuccio bought 500 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was purchased at an average cost of $290.88 per share, for a total transaction of $145,440.00. Following the completion of the transaction, the director now owns 766 shares of the company’s stock, valued at $222,814.08. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Pershing Square Capital Manage bought 420,322 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was purchased at an average price of $318.14 per share, with a total value of $133,721,241.08. The disclosure for this purchase can be found here. Insiders acquired 423,822 shares of company stock valued at $134,819,781 over the last quarter. Corporate insiders own 2.01% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Xact Kapitalforvaltning AB raised its position in Chipotle Mexican Grill by 11.9% in the fourth quarter. Xact Kapitalforvaltning AB now owns 3,319 shares of the restaurant operator’s stock valued at $959,000 after purchasing an additional 354 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Chipotle Mexican Grill by 28.8% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 7,303 shares of the restaurant operator’s stock valued at $2,111,000 after purchasing an additional 1,635 shares during the last quarter. Sharkey Howes & Javer raised its position in shares of Chipotle Mexican Grill by 953.9% during the fourth quarter. Sharkey Howes & Javer now owns 12,647 shares of the restaurant operator’s stock worth $115,000 after acquiring an additional 11,447 shares during the last quarter. Stonebridge Capital Advisors LLC raised its position in shares of Chipotle Mexican Grill by 6.5% during the fourth quarter. Stonebridge Capital Advisors LLC now owns 13,190 shares of the restaurant operator’s stock worth $3,812,000 after acquiring an additional 800 shares during the last quarter. Finally, Lake Street Advisors Group LLC bought a new position in shares of Chipotle Mexican Grill during the fourth quarter worth about $248,000. Hedge funds and other institutional investors own 84.12% of the company’s stock.
About Chipotle Mexican Grill
Chipotle Mexican Grill, Inc (Chipotle), together with its subsidiaries, operates Chipotle Mexican Grill restaurants. The Company’s Chipotle Mexican Grill restaurants serve a menu of burritos, tacos, burrito bowls (a burrito without the tortilla) and salads. As of December 31, 2016, the Company managed its operations and restaurants based on 11 regions.
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