Chipotle Mexican Grill’s (CMG) “Outperform” Rating Reiterated at Raymond James

Raymond James reissued their outperform rating on shares of Chipotle Mexican Grill (NYSE:CMG) in a report issued on Thursday morning, Benzinga reports. They currently have a $3,340.00 target price on the restaurant operator’s stock, up from their prior target price of $3,300.00.

Several other research analysts have also recently weighed in on CMG. Deutsche Bank Aktiengesellschaft boosted their price objective on Chipotle Mexican Grill from $3,100.00 to $3,300.00 and gave the stock a buy rating in a research report on Wednesday, March 20th. BTIG Research upped their price objective on 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. Citigroup increased their price target on Chipotle Mexican Grill from $3,016.00 to $3,358.00 and gave the stock a buy rating in a research note on Monday, April 8th. Jefferies Financial Group lifted their target price on shares of Chipotle Mexican Grill from $2,350.00 to $2,700.00 and gave the stock a hold rating in a research note on Tuesday, April 16th. Finally, BMO Capital Markets raised their price objective on shares of Chipotle Mexican Grill from $2,100.00 to $2,400.00 and gave the stock a market perform rating in a report on Wednesday, February 7th. Ten analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $3,137.12.

Chipotle Mexican Grill Stock Up 2.4 %

Shares of NYSE CMG opened at $3,186.97 on Thursday. The company’s fifty day simple moving average is $2,822.95 and its 200 day simple moving average is $2,434.49. The firm has a market cap of $87.55 billion, a PE ratio of 68.01, a P/E/G ratio of 2.67 and a beta of 1.28. Chipotle Mexican Grill has a 12-month low of $1,768.64 and a 12-month high of $3,199.99.

Chipotle Mexican Grill’s stock is going to split before the market opens on Wednesday, June 26th. The 50-1 split was announced on Tuesday, March 19th. The newly issued shares will be issued 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 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 business had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.67 billion. On average, equities analysts predict that Chipotle Mexican Grill will post 55.08 earnings per share for the current year.

Insider Activity

In other Chipotle Mexican Grill news, insider Christopher W. Brandt sold 3,149 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $2,927.84, for a total transaction of $9,219,768.16. Following the sale, the insider now 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 at the SEC website. In other news, Director Albert S. Baldocchi sold 750 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $2,608.51, for a total value of $1,956,382.50. Following the completion of the sale, the director now owns 37,271 shares of the company’s stock, valued at approximately $97,221,776.21. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Christopher W. Brandt sold 3,149 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $2,927.84, for a total value of $9,219,768.16. Following the transaction, the insider now owns 8,563 shares in the company, valued at $25,071,093.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,797 shares of company stock worth $13,530,931. 0.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chipotle Mexican Grill

A number of hedge funds have recently modified their holdings of the company. Steph & Co. purchased a new stake in Chipotle Mexican Grill in the 1st quarter worth approximately $29,000. Fortitude Family Office LLC bought a new position in Chipotle Mexican Grill in the 4th quarter worth $32,000. Turtle Creek Wealth Advisors LLC bought a new position in Chipotle Mexican Grill in the fourth quarter worth about $37,000. ICA Group Wealth Management LLC purchased a new stake in Chipotle Mexican Grill in the fourth quarter worth about $37,000. Finally, Keener Financial Planning LLC bought a new stake in Chipotle Mexican Grill during the 4th quarter valued at approximately $43,000. Hedge funds and other institutional investors own 91.31% 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. 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.