BMO Capital Markets Boosts Chipotle Mexican Grill (NYSE:CMG) Price Target to $2,850.00

Chipotle Mexican Grill (NYSE:CMG) had its price objective hoisted by BMO Capital Markets from $2,400.00 to $2,850.00 in a report published on Thursday morning, Benzinga reports. They currently have a market perform rating on the restaurant operator’s stock.

A number of other research analysts have also issued reports on the stock. BTIG Research boosted their target price on shares of Chipotle Mexican Grill from $2,750.00 to $3,250.00 and gave the company a buy rating in a research note on Thursday, March 28th. Argus boosted their target price on shares of Chipotle Mexican Grill from $3,265.00 to $3,366.00 and gave the company a buy rating in a research note on Thursday, April 4th. Jefferies Financial Group boosted their target price on shares of Chipotle Mexican Grill from $2,350.00 to $2,700.00 and gave the company a hold rating in a research note on Tuesday, April 16th. UBS Group boosted their target price on shares of Chipotle Mexican Grill from $3,400.00 to $3,500.00 and gave the company a buy rating in a research note on Thursday. Finally, Wells Fargo & Company boosted their price target on shares of Chipotle Mexican Grill from $3,285.00 to $3,300.00 and gave the stock an overweight rating in a research report on Thursday. Ten analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $3,137.12.

Chipotle Mexican Grill Stock Performance

NYSE CMG opened at $3,186.97 on Thursday. Chipotle Mexican Grill has a one year low of $1,768.64 and a one year high of $3,199.99. The company has a 50-day simple moving average of $2,822.95 and a 200-day simple moving average of $2,434.49. The firm has a market capitalization of $87.55 billion, a PE ratio of 68.01, a price-to-earnings-growth ratio of 2.67 and a beta of 1.28.

Chipotle Mexican Grill shares are going to split on the morning of Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly issued shares will be distributed to shareholders after the market closes on Tuesday, June 25th.

Chipotle Mexican Grill (NYSE:CMG) last posted its 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. The firm had revenue of $2.70 billion during 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%. Equities analysts forecast that Chipotle Mexican Grill will post 55.08 earnings per share for the current year.

Insider Activity

In other news, insider Roger E. Theodoredis sold 898 shares of the business’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 sale, the insider now 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 can be accessed through this hyperlink. In other news, insider Roger E. Theodoredis sold 898 shares of the business’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 sale, the insider now 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 can be accessed through this hyperlink. Also, insider Christopher W. Brandt sold 3,149 shares of the business’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 transaction of $9,219,768.16. Following the transaction, the insider now directly 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 4,797 shares of company stock worth $13,530,931 over the last 90 days. 0.96% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Steph & Co. purchased a new position in Chipotle Mexican Grill during the first quarter valued at approximately $29,000. Fortitude Family Office LLC purchased a new position in Chipotle Mexican Grill during the fourth quarter valued at approximately $32,000. Turtle Creek Wealth Advisors LLC purchased a new position in Chipotle Mexican Grill during the fourth quarter valued at approximately $37,000. ICA Group Wealth Management LLC purchased a new position in Chipotle Mexican Grill during the fourth quarter valued at approximately $37,000. Finally, Keener Financial Planning LLC bought a new stake in Chipotle Mexican Grill in the fourth quarter worth approximately $43,000. 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.